PROFITEERING.

Manawatu Times, Volume XLIII, Issue 1510, 9 March 1920, Page 5

PROFITEERING.

PHUT: OF THE TWOPENNY REEL

(Per Press Association.)

WELLINGTON, March 8

Now that the personnel of the committee to deal with profiteering has been announced, complaints may be lodged in the four centres. The Government wishes it to be known that complaints may still be made through the Agency Board, which has recently made investigations into the increase in the price of cotton and thread, and reports that the prices are practically controlled from outside the Dominion. There is a central selling agency in Glasgow, with a branch in New Zealand, which is virtually the selling organisation of the cotton combine. No direct or distinct profits are made by the New Zealand branch, since there is no question of purchase by it. The recent increase in prices was advised by cable from the central agency on 16th February, and all orders for immediate delivery ».n the firm's hands before receipt of the cable were executed at the old prices. Orders received since and orders for delivery after the I6th February were filled at the new prices, whicn average an increase of about 25 per cent. On the main selling line of ordinary sowing cotton in 200 yard reels, the increase was from 52/- to 7.-./- per gross, an increase of 50 per cent. The Board of Trade is considering the question of any increase in the prices of stocks in hand or on the water for transit for New Zealand The Board is further investigating the prices of leather in AticUland. in relation to the recent rise in the pice of hides.