INCREASED COSTS

New Zealand Herald, Volume LXXIII, Issue 22579, 18 November 1936, Page 9

INCREASED COSTS

THE WOOLLEN INDUSTRY EFFECTS OF LEGISLATION NECESSITY FOR PROTECTION [by TELEGRAPH —OWN correspondent] DUNK DIN, Tuesday The effects of the recent financial and labour legislation on the operations of the Mosgiel "Woollen Factory Company. Limited, were discussed by the chairman, Mr. . S. Sinclair, at the (i'in! annual meeting of shareholders to-day. "Shareholders will appreciate that throughout; the present year the company must bear the full burden oi increased wages anil salaries, shorter hours, and higher income tax," said Mr. Sinclair, "and, generally speaking, all commodities required by the company will he at a higher cost. To meet these increases the woollen manufacturing companies felt bound to raise their prices, but not to an extent that will anything like cover the extra cost. Competition from Abroad "Local manufacturers, however, face more serious competition from abroad, and the reluctance on the part of tho Government to give further protection by increasing the tariff lias caused some concern. Properly regulated trade tariffs must continue so long as there exists non-uniformity of working conditions and wages in other countries. In this respect, comparison of the wages paid to mill hands in New Zealand with that in England shows the New Zealand rote to be higher. The hours worked a week will be found to be very much loss in New Zealandactually 18 hours in Fngland, against ■lO in New Zealand." Overhead Expenses An interesting point in regard to tho cost of woollen goods was mentioned by Mr. Sinclair. "It lias been said." he stated, "that woollen manufacturing companies have made far too great a profit on their goods. Tho popular theme is to inquire into the value of the wool in any particular article and to regard that as an indication of the profits which the manu; facturer makes, "The contents of the manufactured article, however, are but a very small portion of its cost, ft is wages and overhead expenses which comprise the major cost of goods manufactured. As an indication, the conversion of wool into a manufactured article such as suiting involves at least 20 major processes." The annual accounts of the Mosgiel Woollen Factory Company were published in tho Hf.rald on November 7. THE CITY MARKETS PINEAPPLES SCARCE CAULIFLOWERS DEARER Pineapples were in short supply at the City Markets yesterday and the fruit realised high prices. There was a fair demand for good quality dessert apples and pears, while hothouse tomatoes also met with a moderate inquiry. Oranges and grapefruit were keenly sought, both lines Realising higher values. Grapes were rather slow of sale, but there was a good demand for strawberries and cherries, although some of the last-named fruit sold at low prices on account of its condition. Gooseberries were marketed in plentiful supplies. Cauliflowers again were available in fair supplies and although the quality was comparatively poor, higher prices than those realised last week were obtained. The market was still oversupplied with cabbages, while peas and beans were available in fair quantities at high prices. Outdoor cucumbers were marketed in heavier supplies and values were lower than last week. Good quality lettuce, carrots and beet again sold at high prices, but rates for rhubarb were lower.

Poultry, which Again came forward in heavy supplies, sold to a keen demand. the prices paid revealing a falling tendency. Values for fat hens, however, remained stable. Values were:— FRUIT Apples, Delicious, (is to :Ug; Dougherty, 4s (o Ss Gd; Granny Smith, 3s to ss; Rome Beauty, 4s to 7s; Statesman, fis to lis; pears, Peter Barry, fts to Ss (id; Winter Nelis, 7s (Id to 1 '.is; tomatoes, hothouse, Gd to 10d; oranges, Jamairan. 35s to 4:25; grapefruit. New Zealand, extra choice, Ss to 12s; others, -Is to 7s; California!!, 3os; Jamaican, 30s; lemons, choice cured, Ss to 10s; others, 3s to 7s; bananas, ripe, 10s to 28s; pines, Queensland, 23s to 20s; crapes, Californian, red, 2'Ss; white, 28s; black, 38s; plums, cook.inc. 3s; strawberries, Captain Cook, extra choice, Is Od to Is Od; others, Is to Is sd; Marguerite, extra choice, Is 5d to Is 7d: others, Od to Is 3d; cherries, (Is to 10s. FIELD PRODUCE Asparagus, 5d to fid a bundle; beet, Od to 1s 2d a dozen; broad beans. 4s to 5s fid a bag; carrots, Is to 2s a dozen; cauliflowers, (is to 8s a sack; cabbages, 0(1 to 3s a sack; on benches, 4d to Is a dozen; cucumbers, 2s (id to 5s a dozen; French beans, hothouse, Od to Is 4d per lb; green peas, (is to 12s » bag; leeks, Is to 2s a dozen; lettuce. 2s to Os a case; marrows, new season's. 2s to 5s (id a dozen; onions. Canadian. 22s (id a bag; potatoes, new. No. 1. 3s to Is (id a bag; No. 2, 1s to 2s; pumpkins, 15s to 21s a cwt; parsnips. Sd to Is a dozen; radish, (id to Od; rhubarb, Is to 3s; spinach, Od to Is (id; spring onions, 3d to fJd; turnips, (id to Is a dozen. TOULTRY Cockerels, heavy breeds, prime, 3s to 5s (id; not prime. Is !)d up; light breeds, prime, 2s to 4s; not prime, Is 3d up; fat, roosters, heavy breeds, prime, 2s 3d to 2s Od; light breeds, Is !>d to 2s 3d; fat liens, heavy breeds, 3s Od to Is (id; light breeds, 2s to 3s Od; pullets, heavy breeds, best, 3s to 4s :id; smaller, Is (id up; light breeds, best. ;ts to Is 3d; smaller, Is (id up; drakes, young, prime, 2s 3d to 3s 3d; smaller, Is lid up; old, Is (id to 2s 3d; ducks, young. 2s '.ld to -Is; old, Is (id to 2s 3d; geese, 4s (Id to Ts; turkey hens, 5s to !>s; gobblers, ss to 17s (id; cockerel chicks, heavy breeds, (id up; light breeds, 1 \'A I guinea fowls, Is to (is; ducklings, Od. FARMERS' BUTTER AND EGGS Eggs, hen, A grade, 1s OV 3 d a dozen; B Kradc Is 5',4d; C grade. Is 2'id; duck. A grade,' Is 5V;d a dozen; n grade. 1s 4', 2 d; C grade. Is 2'/ad; farmers' butter, lOd to llVad per lb. MINING IN CANADA EXCEPTIONAL PROSPERITY NEW YORK, Nov. 10 The Toronto correspondent of the New York Times says the exceptional prosperity of the mining industry has enhanced' materially the economic status of the Dominion. Goldmining is particularly noteworthy. The output for 1U;!(3 is estimated at 24,000,000 dollars. BUILDING ACTIVITY TILE COMPANY'S BETTER YEAR [BV TELEGRAPH —OWN O R RF.S I*ON D ENT ] DUNEDIN, Tuesday The directors of the Petrous Tile Company, Limited, state in their annual report that buoyant conditions have continued in the building trade, enabling the company to increase the turnover in its lour branches. After writing off depreciation and making provision for income tax and contingencies there is a net profit of £141(3, which reduces the debit in tho profit and loss account to £2488.