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Wednesday, 10 July 1946

Mr MOUNTJOY (SWAN, WESTERN AUSTRALIA) - Has the attention of the Minister representing the Minister for Trade and Customs been drawn to a news item in the Sydney Sunday Sun of the 7th July announcing that the Prices Commissioner has allowed an increase by a per cent. of the wholesale price of tyres and that this increase is to be passed on to the public ? In view of the fact that the published report of the Goodyear Tyre Company's balance-sheet reveals that the company has paid a steady dividend of8 per cent. on its 250,000 preference shares, and paid over the war years an average dividend of 2011/15 per cent. on its 750,000 ordinary shares namely: 19.40, 24 per cent.; 1941, 12 per cent.; 1942, 142/5 per cent.; 1943, 16 per cent.; 1944, 172/5 per cent. ; 1945, 403/5 per cent. - does he not consider that the Australian motoring public and the primary producers are being grossly overcharged ? Will he consult the Minister for Trade and Customs with a view to having the price of tyres reduced instead of increased ?

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