BREAD PRICES

Evening Star, Issue 22276, 29 February 1936, Page 13

BREAD PRICES

With.' reference to the advertised prices of bi - ead appearing in'to-day’s issue, Mr Thomas, district officer of the Department of Industries and Commerce, has explained for the benefit of those. interested that these prices, being the standard prices ruling on February 8, 1936, are from that date fixed under the Board of Trade bread price regulations. Stale 'bread sold cash over the counter must be charged for at 5d and lOd for 21b and 41b loaves respectively. The position of contracts under the regulations is not affected until the expiry of such contracts, when the prices must be brought into line with standard rates. Under the regulations no ‘discounts, rebates, or concessions of any hind can be made on either wholesale or retail sales. For any breach of the price-fixing regulations, such as price-cutting or the giving of discounts, heavy penalties are provided by the Board of Trade Act.

GOLD AND SILVER WORLD MARKETS REVIEWED UNITED STATES POLICY Reviewing the gold market, Mocatta and Goldsmid, of London, recall that the main feature of 1934 was the liquidation bv the United States of a favourable trade balance through foreign purchases of bullion. “In 19357’ they state, “ America’s silver purchases alone have more than sufficed to correct this balance ; her gold imports during the year, which amount to about £300,000,000 sterling, must represent the counterpart of capital which has been repatriated or _ has taken refuge from abroad. Belgium, too, has enjoyed, though on _ a more modest scale, an inflow of capital as a consequence of devaluation; although such capital seeks employment primarily in the short-term market, its influence in easing the immediate financing problems of countries where money is tight ought not to be overlooked in assessing the future prospects of the gold bloc. “ The pound sterling, although technically off gold, has in the last six months varied very li.ttle more than the gold currencies, as the British Exchange Authorities, by making brilliant use of the large resources at their disposal, have imposed a period of actual stabilisation with the franc and dollar, contrasting with the wide fluctuations of the early part of the year. For the rest, India has continued to sell on about the smae scale as last year—her exports amount to about £30,000,000 over the year—and there has been an intermittent but at times very keen demand from the Continent for gold coins .of all denominations and for sovereigns in particular.” Regarding silver, the firm states that the American silver-purchasing policy has had results very different from that hoped for by_ its sponsors, : thOugh_ its results have justified the expectations of Eastern bankers and others connected with China, the latest of these expectations being the complete dislocation ■ of the silver currencies and markets of the world. , • MELBOURNE MINT MODE GOLD RECEIVED SMALL DOMINION INCREASE. 'A net increase of - 27,158.24 fine ounces of gold is shown in the annual return of the Melbourne branch of the Royal Mint.! The total received in the year 'ended December 31 is 229,255.85 fine ounces, compared with 202,097£1' in the previous year; The receipt .of new gold is greater and the amount of light gold coin and gold from unknown resources, comprising - old ' gold' and jewellery, is smaller than that received in 1934. The reduction in these twoitems, is 12,914.550 z, so the actual increase in new gold is 40,072.790 z. The greatest increase was shown by' Victoria, the quantity being 16,535.430 z ahead of that of the previous year. Other increases were; Queensland, 10,074.950 z; New Guinea, 5,440.22; South Australia, including North Australia, 4,855.60; New South Wales, 2.471<61; New Zealand, 636.96; and Tasmania, 106.66. Decreases were : Western Australia. 19.96; Fiji, 20.58; Malay, 8.10; Light gold coin, 952.91; and unknown, 11,961.64. Of the gold received last year, 240,784.590 z standard were reissued for export.