BEEF TRUST INVASION.

Dominion, Volume 4, Issue 1069, 7 March 1911, Page 5

BEEF TRUST INVASION.

A PARTIAL RETREAT. By Telegraph—Pros? Association—Coprrisht. Melbourne, March 6. Mr. Elder, of the firm of Messrs. John Cooko and Company, states that owing to strong expressions of public opinion, the debenture schomo of the Beef Trust (the Trust intended largely increasing its capital, a portion being reserved for subscription in Australia) has been withdrawn. Yet he docs not expect a complete retreat.- The men to whom the debentures were offered are faced with the alternative of buying shares or meeting competition from new works.

WHAT AUSTRALIA HAS TO FEAR. When questioned with regard to the prospects of the American meat combine operating in Australia upon lines similar to those reported in America and Argentina, the Homebush selling agents and fat stock bnvers (says tho Sydnoy "Her-' aid") are not inclined to be very communicative. • Representatives of the alleged trust have occasionally visited the Homebush yards and watched the proceedings in both the cattle and sheep sections. They have also, it is said, been in negotiation for at least one meat company, but have not purchased it. The representatives are spoken of as "Swifts," but it is understood that they .rcajlv represent, the combined.packers,.of. AmeWca,' with forty millions sterling to back up any proposition that they may make here or in any other part of the world where they may operate. At present, it would seem, that they are buying preserved mutton and beef in Australia, and are not at present intending to start freezing and canning works. Their object, so far as can be seen, is to purchase supplies from existing establishments. _ , Tho Minister for Customs, Mr. Tudor, is keeping n close watch on the domes of the American Meat Trust, and is taking every precaution to see that it does not get a footing in Australia if he can help itl He referred to the subject last week, and said that he had learned on good authority that the trust was trying to dispose of some of its shares in Australia. The object of this, he claimed, was to get important people fn the Commonwealth in the trust, so as to secure a firm footing here. Their plan was. roughly, to get Australian money and influence to defeat Australia's policy against the creation of trusts. The Government was going to fizht the trust, and he was confident that the Government had sufficient power to prevent the trust securing the same controlling power in Australia as it had elsewhere.