TRADE EXCITED

Evening Post, Volume XCVI, Issue 36, 10 August 1918, Page 9

TRADE EXCITED

(FROM OUR OWN CORRESPONDENT.) •;■ •'■ SYDNEY, 31st July. It was that the action "of llw Federal authorities in fixing, throughout the Commonwealth, the prices of so important a. food commodity as meat would cause much. : excitement and disorganisation in the- trade—and everything happened as anticipated. The new rates came, into operation on Monday. The retail and wholesale butchers and pastoralists declared in aloud and unanimous fashion- that they were ruined—although, the prices officially fixed are such; as were never dreamed of before the war —and they tried. to ' stampede public opinion into, the belief that, if the neworder of things did not quickly ■change, there would be a meat famine. The reports on Monday of stock sales in various parts of Australia indicated greatly decreased yardings, and the trade shouted "I told you. so." The Government did not get excited. The Acting-Prime Minister calmly announced that the Government had decided that those should be the rates for meat, and it did not propose to be flouted. ■ If stock did not come forward in sufficient numbers, the Government would- act drastically. -At the same time a regulation strengthening the-law under which, persons may . be prosecuted for'withholding from .sale goods which, are, subject to price-fixing was ostentatiously] gazetted. . The Minister for Pricefixing said he was sure that the market; would readjust itself, and he did not propose to take.any immediate action. The faith of the latter Minister appears to be justified already. Although Monday's sale at Homebusb. was such a fiasco, "the truckings' for to-morrow indicate that there will be 7000 sheep, and 1100 cattle on offer, which is not so very far.short of normal requirements. Sydney's meat requirements—-25,000 sheep, 2500 cattle, and 1800 pigs petweek—are provided for by two sales per week at ITomebush: and a considerable independent supply. The trucks alreadyordered for next week's sales show that the supplies of stock tend to increase rather than decrease. Meanwhile some retailers only report a scarcity of supplies.