ALLEGED PROFITEERING

Wairarapa Daily Times, Volume 46, Issue 14144, 16 June 1920, Page 5

ALLEGED PROFITEERING

“BIG BEN” CASES. (By Telegraph—Press Association.) CHRISTCHURCH, Tuesday. The hearing of the alleged profiteering cases was continued to-day before Mr-8. E. McCarthy, S.M. John Wilmot Duncan, manager for Byown ami Bureau, continuing his evidence, said that in consequence of increased manufacturing costs, freights, and the adverse rate of exchange, the landed cost of clocks in March xvas 15s 4d. The wholesale price xvas fixed at IBs 3d in the ease of lots, and 18s 9d in broken lots, giving the wholesales a turnover profit of L'pf per cent.and 1G per cent respectively. That means.to the retailer a profit 011 the turnover of 29 per cent when he bought broken lots-. All the sales were made upon the stipulation that the xvholsealevs should sell to the retailers at a certain price, and that the xvholesalers should bind retailers to sell at a certain price. Evidence xvas given on behalf of the firms concerned, which was chiefly to the effect that the replacement value must be taken into consideration xvhen fixing 'the price of an article. The hearing had not finished xvhen the Court adjourned till to-morrow.