We all know how remorselessly prices have soared, and we have read various apologies, such as the tenpenny reel one, which bring us no consolation. A' Shanghai resident, however, who has just re turned from England, brings witn him a ray of sunshine which appears almost celestial amid the encircling gloom, for he has a brand new overcoat which cost him less than £4—a good article in every respect, well made and a perfect fit Such a phenomenon deserves attention, so we give his narrative. Ho found a tailoring establishment which announced that its nett profit on every article sold would be 5 per cent.—under certificate from a reputable firm of chartered accountants—and in the matter of overcoats it asked the public throughout England to purchas: 1,000 of them at the price above quoted in order that it might absorb the output of one factory producing these articles. The firm in question operates 2 chain of shans throughout the country, and upon this announcement business was so enormous that instead of the whole chain of shops taking the 1,000 overcoats, each branch sent in orders for 1,00), As a consequence there was some delay, -but in 2 comparatively short time after the orders had been given, they were duly fulfilled. The story shows up the huge extent to which profiteering must run, for obviously if a return on capital of 5 per cent. can be made with such prices, the profits on other articles which are at an extortionate figure must be colossal, even allowing for the fact that the large orders the firm in question would have cheapening effect.
Text read from the printed page and cleaned; old type leaves the occasional error.