LOWER PRICES FOR ELECTRICAL GOODS SOUGHT

Grey River Argus, 23 February 1949, Page 5

LOWER PRICES FOR ELECTRICAL GOODS SOUGHT

WELLINGTON, Feb. 22 The Price Tribunal was asked today to apply to the wholesalers and retailers of electrical goods, as well as industrial users, a ‘ cost-plus approved percentage” 4 scheme, estimated to effect reductions m the selling prices to the public, ranging from 7i to 9 per cent. . The director of price control, Mr H L . Wise, in making the application, said that in the case, of goods sold to retailers the reduction of five per cent., which was sought ontne wholesale price would mean a t 0 nine per cent, saving to the public. Mr Wise said the division considered as a result of a survey it had made over a representative sample of firms at all levels of distribution, that the profits taken in the trade, especially by the larger importing wholesalers, were so considerable and were like'V to continue so, that a schedule of mark-ups reducing the margins was necessary. . Mr C. J. Leniham appearing for ‘the New Zealand Electrical federation, asked for an adjournment of two m “Two months’ adjournment would bo ridiculous and there must be no non vine” said Mr Justice Hunter, in SSt tte hearing until March