COMMERCIAL.

Press, Volume LX, Issue 18265, 26 December 1924, Page 14

COMMERCIAL.

FROZEN PRODUCE LETTER. BRITISH FOOD PRICE ENQUIRY. FOOD PRESERVATIVES. (f ROM OI.'R STKCIAI I ' IKforONDBNT. ) LONDON. November 18. Although there is yet time before Ihe arrival ot' 1 lie Christmas markets for meat prices to move appreciably, it ii is noted on Smithfield that the steady maintenance of high values all round is an outstanding feature. This is leading many to think that we may get over the turn of the year -without any sensible fall ia rates, and, if so, the frozen meat trade will find 1925 a dear meat period. Regarding the part that Argentina may play in this contest, the high prices which growers in South America are now obtaining for their cattle is said to be pushing exporters hard in the exploitation of their business for profit. The opinion is ventured in some quarters that there is an approaching cattle shortago in Argentina, an eventuality which has been scouted in the past.

Government and Food Prices. The Conservative Government, fresh and elated from the polls, has, as a new broom, expressed its immediate intention of making wide and searching enquiry into the prices of food. This policy has been compelled by recent events, inasmuch, as in the past month alono the cost of living index figure has risen four points, until at the beginning of this month it stood at 79 per cent, above pre-war level. There has, of course, been the usual fanfaro of Press trumpets to herald such a public cnuiry, and the newspapers have not been, backward in comment on the points which may be seized upon in this national investigation. Regulation of • supplies by monopoly has been one thing pointed at, and here tho National Board of New Zealand has not escaped attention as an authority, it was alleged, capable at least of regulating or holding-up* supplies against tho consumer. The last has probably not been heard of this, but it ' is at least satisfactory that Mr R. S. Forsyth, the British representative of the New Zealand Meat Producers' Board, has entered prompt and timely protest in the Press against this canard, which, according to the London "Morning Post," emanates from a "Smitnfield authority." The inference was that New Zealand had held back supplies, which Mr Forsyth categorically denies, and cites in proof the fact that at the end of last month only 1445 carcases of lamb and 52,472 carcases of mutton remained as stocks in the Dominion. He has amplified his statement, in explanation of the position as-to marketing prices by giving a useful comparison between tho rates obtained by the grower and those realised in retailing on this side.

Meat Marketing Costs. Concerning the complaint that the British retail public has to pay unduly high prices for New Zealand meat, and that the big profits go to tho middlemen in Great Britain, Mr Forsyth quotes figures showing that the difference in wholesale and retail prices is not abnormal. Taking an average, he states that the New Zealand meat growers receive 6J d per lb for prime wether mutton and IOJd per lb for prime lamb, on the hoof, in New Zealand. The exporter who purchases the lambs and sheep has to bear the cost of the slaughtering, freezing, and freight. The average price which they receive at Snxithfleld for the meat is 7jd per lb for the mutton and lid for the lamb. Ho explains that retail prices for tho meat vary in different districts, but West End prices average about 11? 3d per lb. The retailers have to transport the meat from Smithfield, cut it up, sell the neek and scrags at a low price, keep it stored in a refrigerator, deliver orders to the suburbs, and extend credit. On the whole, retailers add from 20 to 25 per cent, on to the wholesale price—a charge which is not considered abnormally excessive.

Food Preeorvativw and BofrigoraiioiL Britain has bean treated of late to a rather feverish anti-preservative campaign, this culminating in the Press at the time of the issue of the final report of the Ministry of Health Committee on I"ood Preservatives. This Committee's conclusions are likely to bo favourably received and aeted upon by the new Government, seeing that the appointment of the investigators -was made by the last Conservative administration prior to the Labour regime. In Va word, the Committee's finding are ■wholly condemnatory of food preservatives, only a few of the more innocuous agents being passed in special cases. Formaldehyde and borie compounds aro the particular object of censure. Rather remarkable is the length of phrase at which the Committee sets itself to commend and urge the wider use of refrigeration as a food preservative. It goes so far aa to lament the backwardness of the railways in the matter of cooled traffic facilities, adding, "We cannot regard the present defective methods of transport aa justifying the , use of preservatives, and any steps which are taken in the direction of limiting or controlling preservatives will, we are confident, create a pressing demand for improved transport arrangements, and -will be effective in securing them." It is thought that not only should this declaration by a Government Committee prove a fillip to the refrigerating industry of Great Britain, but that it should also serve to some extent to increase the public faith in all manner of produce handled under refrigeration.

NATIONAL MUTUAL LIFE ASSOCIATION.

Mr P. W. Nicholson, general manager for New Zealand! of the National Mutual life Association of Australasia, Limited, bas received the following cable from bis head office in Melbourne: His 55th annual general meeting of members was held on the 17th instant. The sew business for the year was very satisfactory, 14,782 new policies having bees issued, assuring £6,279,105, an increase of £394,329 on ihe previous year. Tbo total income for the year, including premiums and interest, was £3,260,73/. The large sum of £1,496,917 has been added to the funds, which now amount to £20,365,160. The post rear baa been a most successful one, and the bonus certificates will reach members early in March neat. BLACKWATER MINES. {special TO "THX PRESS.") BEEFTOK, December 24. Tko Bkckwater Mines, Ltd., report for the month of December ifl as ioUowa:— Tons crashed, 3096; yield, 1563 fine ounces; total -value of yield at £1 6e per fine ounce, 1 #B7B.