WORKING AT A LOSS
INSUFFICIENT LOCAL WHEAT FLOUR MILLS MAY CLOSE DOWN IMPORTED ARTICLE TOO DEAR Per Press Association. DUNEDIN. June 28. “The Dunedin mills are in the same position as those in the north,” said a local miller. “We are buying wheat at prices which do not permit of making any profit.” Though his company was working at a loss, it would lose still more hy closing down, because it cost a fair sum per week to shut a mill down. It was common business prudence, therefore, to keep running in the meantime. With the recently increased railway charges wheat was costing 7s a bushel on trucks. Australian wheat at 8s 8d bushel was prohibitive, and he did not think any mills in New Zealand could keep going after September. The whole position had arisen through New Zealand not growing enough wheat for its requirements, and this season New Zealand would probably be over two million bushels short. The position was serious, not only from the point of view of the miller, but from the unemployment aspect. There were certain stocks in hand, but it was probable that the mills would have to close in about f--r months.
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Bibliographic details
New Zealand Times, Volume LIII, Issue 12485, 29 June 1926, Page 6
Word Count
199WORKING AT A LOSS New Zealand Times, Volume LIII, Issue 12485, 29 June 1926, Page 6
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