COST OF LIVING

Waikato Times, Volume 89, Issue 13937, 12 December 1918, Page 6

COST OF LIVING

PREVENTION OF EXPLOSTATION. LEGISLATIVE ACTION. IN WAR LEGISLATION ACT. (liy Telegraph.—-Special to Times.) WELLINGTON, Wedne«lnv. Addilion.il provisions designed to p->>. vent exploitation were added to the War Leg latum Act on Monday night, as follows: Every person commits an offeive against this section who either as principal or agent sells supplies, or offers for sale or supply, in New Zealand, any goods at a price which is unreasonably high if the opportunity of obtaining such price in New Ziaiaiul arises by reason .of the existence, present or past, of a war in which Mis Majesty is engaged or by reason of a scarcity of sueb goods in New Zealand caused by war conditions present or past. For the purpose of this section the price of any goods shall be deemed to be unreasonably high if it produces more than a fair and reasonable rate of commercial profit to the person selling or supplying, or offering to se'l or supply, the goods, or to his principal.

A fair and reasonable rate of commerieal profit is for the purpose of this section such rate as would have been fair and reasonable on similar goods prior to the 4th August, 1914, with a fair and reasonable addition for war conditions of freight charges and business expenses. Every person commits an offence against this section who being in possession ' of goods for mercantile purposes hoards and refuses to sell, or make available for sale, such goods, if such hoarding or refusal raises, c.r lends to raise, the cost of other similar goods to the public. Every person who is guilty of an offence against this section is liable on summary conviction to a penalty r<ol exceeding in the case of an individual 1200 and in the case of an incorporated company £IOOO.