SMITHFIELD MEAT MARKET

Press, Volume XCIII, Issue 27985, 4 June 1956, Page 14

SMITHFIELD MEAT MARKET

LAMB AND MUTTON SELL WELL

Frozen lamb sold well at Smithfield last week and prices were mostly firm, according to the Meat Producers’ Board’s weekly report. Light supplies of wethers were in demand at firmer prices. Ewes had a fair sale at slightly easier rates. Moderate pitchings of chilled beef had a steady trade at firm prices. There was a fair inquiry for frozen beef, and supplies were reduced. Hindquarters values moved up noticeably. Prices for N.Z. meat (ex store, London, for frozen meat; delivered to Smithfield for chilled beef) in the week ended May 30, with the variation since the previous week, were as follows:

WAGE RISES IN AUSTRALIA

EFFECT ON ANTHONY HORDERN’S COSTS The quarterly basic-wage adjustment and the Saturday morning penalty rate cost Anthony Hordern and Sons Ltd., about £130,000 in the year to February 29, said the chairman, Mr S. G. Rowe, at the annual meeting in Sydney. This outlay made “all the difference in our net figures for the year.” he said. Figures for the first half of the year had raised expectations of the previous year’s record result being beaten, but expenses increased and sales fell in the second half-year. An increase of £426,945 to £2.6m m stocks as at February 29 reflected anticipated import restrictions and requirements of the Canberra branch to be opened soon. Some items of imports would become more difficult to obtain in the face of import restrictions. He could not see any relaxation of the restrictions while the balance of payments problem remained. "I am happy with this increase in stocks in the light of the severe import restrictions and of the higher costs of local materials and wages,” Mr Rowe said.

"We carry a very full range of merchandise. not exceeded by any departmental store in Australia.” The company’s new premises at Canberra in an attractive location, were almost ready for opening, said Mr Rowe.

HOUSING LOANS IN AUSTRALIA

POLICY OF NEW SAVINGS BANK ANNOUNCED

The policy of the Bank of New South Wales Savings Bank in its advances for housing in Australia was announced by the alternate general manager, Mr ’R. J. Abercrombie, in Sydney on Wednesday. Mr Abercromibe said that the bank was gratified at the support it had received from the public to an extent which now enabled it to say that for the present the bank could make funds available at the rate of £350,000 a month, or more than £4,000,000 annually. Subject to continued progress this figure could be enlarged. Loans will be made available in

Australia for new houses to both individuals and registered building societies. Advances to individuals will bear interest at rates not exceeding 5| per cent, and to societies at 5 per cent. The maximum loan will be £2500 and the longest term 25 years. The loans will be made available against the security of homes of brick, timber and fibro, said Mr Abercrombie. “Our policy will be, as far as possible, to make loans available in those States and localities from which the savings bank’s deposits have come.”

Sheep Per lb s. d. Var'n pence per lb Crossbred Wethers. Maiden Ewes— Under 481b 1 31 N.C. 49-5rlb 1 21 57-641b 1 01 + 1 65-721b 0 Hi + 1 Under 481b 0 91 N.C. 49-56 0 8 —A 57-641b 0 71 —1 65-721b 0 €1 —1 Canterbury ,am n First QualitvUnder 231b 1 iu —A 29-361b 1 101 N.C. 37-421b 1 95 -1 43-5Clb 1 71 4-1 Seconds— Under 281b 1 IP? —4 29-361b 1 92 N.C. First QualityOx hinds Frozen Beef (145-210’b) 1 3 N.C. Ox tores (145-2101b) 0 91 Seconds— Ox hinds 1 21 N.C. Ox fores 0 91 Ox hinds Chilled Beef (100-185lb) 1 71 4-1 Ox fores (100-1851b) 0 81 N.C.