PROFITEERING CHARGES.

Hokitika Guardian, 16 June 1920, Page 4

PROFITEERING CHARGES.

(Per Press Association.)

CHRISTCHURCH, June 15

Tile hearing of the alleged profiteering eases was continued to-day before Mi- S. E. McCarthy, S.M. John Wilmot. Duncan, mangaer for Brown and Dureau, continuing his evidence, said that in consequence of the increased cost, and freights, and the adverse rat* «£ exchange, the landed cost of the Big Ben clocks in March was los id. The wholesale price mas fixed at 18s 3d in case loads and 18s 9d for broken lots, giving the wholesaler a turnover profit of 133 and 16 per cent respectively. That meant for the retailer a profit on the turnover of 29 per cent when he bought in case lots and ■27 per cent when he bought in broken lots. Afl sales were made upon a stipulation that the wholesalers should * sell to the retailer at a certain price,'and that wholesalers should bind retailers to sell at a certain price. Evidence was given on behalf of the firms concerned, which was chiefly to the effect that replacement value must he taken into consideration when fixing prices of articles. The hearing had not finished when the Court adjourned till to-morrow.