WAR PROFITEERS

Waikato Times, Volume 128, Issue 21410, 2 May 1941, Page 6

WAR PROFITEERS

robbing of people SPECULATION IN FOOD BIG RISE IN PRICES iUnited Press Assn.—Elec. Tel. Copyright) LONDON, April 30 Evidence that the public is being robbed by speculators who traffic for profit in foods in short supply is revealed by Sir Douglas McCraith, chairman of the Food Price Investigation Committee, North Midland Region. “Speculation is rampant,” he said. “Goods are changing ownership many times, like stocks and shares, without even leaving the warehouses. People who do not render service in distribution are enriching themselves at the expense of the consumer. “Prices to the public have risen out of all reasonable proportion and have contributed considerably to the increase in the cost of living, with inevitable discontent.” Sir Douglas quoted the case of a dozen cans of soup supplied by a manufacturer at 6s 6d. After passing through the hands of seven middlemen they retailed at 14s 6d. One middleman appeared twice in the transactions, buying and selling the same soup, each time at a profit. Sir Douglas also quoted an instance of canned marmalade sold by an importer at BJd a tin. After passing through the hands of three middlemen it was retailed at 3s 6d a tin. Some members of the House of Commons today accused the Food Ministry of belated action, inattention to rocketing prices, mishandling of voluntary rationing, and ignorance of the activities of food racketeers. During March there were 2141 prosecutions under the food control orders, 1994 being successful.