COLD STORAGE EGGS

Dominion, Volume 12, Issue 214, 4 June 1919, Page 10

COLD STORAGE EGGS

SPECULATORS' HEAVY PROFITS IN SIIMY

£15,000 IN SIX MONTHS - After having lost considerable money in cold-stored eggs in the winter mould.) of 1817 and 11118, the speculator .(.says the Sydney "Sun") is now enjoying a (jreat and when Hie pifttenl surplus is cleared it is estimated lh.it Uio net profit wiil be in the vicinity of iIS,OUU. When suburban new-laid vvero quoted at troin IOJd. to Is. per dozen in the Sussex Street markets they were rushed by the speculator, and it was fitatcd that over 20,000 cases, each containing 3G dozen, were taken up, repacked, and placed in the various cold storage rooms in tho city. J.'astry and biscuit manufacturers and some prominent city and suburban grocers also t;iok large parcels to tide them over the present month*.

Considerable risks were taken by the speculators when it is rcineinbrrea that for two lyi'Aii'S previously largo )sums wero lost, cliielly on account of Adclaiilu and Queensland tinns iiiiiiy able to undercitt the Sydney rates. Thu production oi' new-laid egije ceased much earlier tliis year than ivus anticipated, ami as the prices asked by Melbourne, Brisbane, and Adelaide houses were considered prohibitive, attention was paid to stocks held in local cold stores. The serious position of the influenza, epidemic during March, triitl April caused increased buyiug of the new-laid hen eggs, aiid prices immediately rose to the abnormal figure of '.'s. 9d. per dozen wholesale and. 3s. 3d. retail. Tliimo prices are still being maintained. The speculator has now started to unload, and has been obtaining from is. 10d. to 2s. 2d. for the new-laid placed in storage in October, Is. 7d. mid Is. Sd. for the country eggs, and Is. fid., per dozen for those that wore pickled. It is estimated that the average profit on the 20,000 cases of egg» is 15s. per ease.