THE COST OF LIVING.

New Zealand Herald, Volume LIII, Issue 16233, 19 May 1916, Page 7

THE COST OF LIVING.

TAUPIRI COAL DEARER. COMPANY'S EXPLANATION. A rise in the price of coal has been decided upon by the Taupiri Coal Mines, Ltd. Referring to the matter at vesterdav's annual meeting of shareholders the chairman, Mr. E. W. Alison, said the directors had found it absolutely necessary to increase the price. They were exceedingly loth to take this step, but a combination of adverse circumstances had made it imperative in the company's interests to advance the- price. There had been a serious shortage of miners, and a consequent diminution of output! Wages had been increased by hlO per cent, owing to the granting of tß&war bonus. Railway freights, heavy, had been increased by 10 per cent. AH-mining requisites and materials had increased in price at rates varyTh g k™ l *} P er cent " to 150 per cent, -mere had been a large increase in the amount of the company's ordinary taxation, and the various war taxes had Increased the company's working expenses, inera had been an increase in the rate ol insurance of employees against accidents—a heavy item. There had also been a large increase in the amount of rates the company had to pay. These circumstances, together with the fact that the company had suffered heavy financial losses, and was working so unprofitably that it was unable to pay dividends to its shareholders, had forced the directors reluctantly to increase the | price of its coal. Mr. Alison said it was ! realised that, as the company's coal was household coal, the increase in price would add to the cost of living. But there was absolutely no alternative. The company must either raise the price of coal or go into liquidation. Mr. S. J. Nathan agreed that the directors had no option in the matter, and he thought the public would- also realise it.