AUSTRALIAN MEAT TRADE.

Auckland Star, Volume 55, Issue 3, 4 January 1924, Page 5

AUSTRALIAN MEAT TRADE.

THE RETAILING SCHEME. A POINTED CRITICISM. LOXDOX, January 3. London newspapers are giving prominence to Sir Henry Jones' scheme for marketing Australian meat in England. The '"Daily Telegraph" says that it is proposed that besides meat 1300 retail shops should sell butter, fruit and other produce. The whole scheme eventually would require £S.f)00,000 to £10,000,000 capital. This would mean poing beyond anything attempted by the American [packing houses or of the New Zealand . pool. The suggestion to open retail establishments has always raided a storm of opposition in Britain.— (A. and X.Z. Cable.) At the first annual meeting of the Australian ileat Council on December If), Sir Henry Jones outlined a proposal I for establishing a distributing corporation with the aim ultimately of acquiring, say, about 1000 snops in England. He anticipated that this would give a profitable return without adding 1 to the cost of meat to con sumers. Speakers, discussing the proposal, expressed the opinion that as such sheps would necessarily have to deal with other meats besides AusI tralian the proposal should include the payment of a bonus to shopmen to push Australian products. The council carried a resolution expressing sympathy with the project, but stating that the council could undertake no financial responsibility in connection with it. It is understood that Sir Henry •Tones suggested that £1.000,000 could be raised to finance the scheme by means of ordinary shares, which his firm would be prepared to underwrite Another suggestion was that £500.000 could be raided by Government debentures and £500,000 by preference shares the whole carrying 7 per cent interest.