TRUSTS’ ORIGIN.

Hawera Star, Volume XLVIII, 14 November 1924, Page 4

TRUSTS’ ORIGIN.

MEAT CONTROL BOARD. MAY NOT SUCCEED. AS PROMOTERS HOPE. [That the operations of the Meat Control Board', recently formed in New -Zealand, may hot be as successful as those who suggested its formation sanguinely hoped, was suggested by Professor B. E. Murphy in a lecture on “Trusts and Combines,” delivered in Hawera last evening.) Under the auspices of the Bank Officers’ Guild, Professor Murphy/ of Victoria College, delivered an address last evening on the subject of “Trusts and Combinations.” Mr R. A. Douglas presided over a large attendance. Professor Murphy dealt in a very lucid manner with his topic, and gave the reason why trusts were formed to enable them to control output and eliminate competition. The various means adopted, such- as the formation of boards of trustees, stock holding companies, etc., to evade the various Acts passed to suppress sueh combinations, were explained clearly, while the tern dene.ies of huge trusts in the restriction of output and the control ! of prices were also touched upon. In summing up Professor Murphy stated that the danger of trusts was the handing, oyer of the control of the resources. of any country to an irresponsible person, so t*o speak, who was not answerable to the people for any-of his acts. Judging by present tendencies it. seemed that in future some countries would be likely to be* ruled practically by boards of financial magnates, who controlled the finances and industries of such eoulitries. Professor Murphy also gave a resume of the Cartel system as operated iu Germany, and in the course of his remarks made reference to the Meat Control Board, recently formed in New Zealand, which is a phase of the Cartel system. He said that it was yet early to speak with confidence as to what results were likely to accrue from the operations of Meat and Dairy Control Boards,, but he would not be surprised if they’were not so successful as their sponsors hoped they would be.