FOOD PRICES COMMISSION

Evening Star, Issue 18852, 29 January 1925, Page 5

FOOD PRICES COMMISSION

.VESTEYS AND THE MEAT TRADE,

SPECULATION CONDEMN ED

Press Association—By Telegraph—Copyright.

LONDON, January 28. The ‘ Daily Herald,' in a special article discussing Lord Vesiey s deni, a.l before tho Food Prices Commission that bis firm controls tho price of moat, asks: “Why do the representatives of tho Vestey Trust and the American Meat Trust confer at 9.50 each morning ?” The writer suggests that tho purpose is to discuss tho market position, and prepare for the next days market. He. says : “ Vestev’s do not control the. market, but they take part in controlling it alongside their bigger brethren. Operations at Srnithfield begin at 4 o clock in the morning, and a lot of business is done by 6 o'clock. Immediately tho position is gauged telegrams and telephone messages are sent from the trusts to all tho country branches fixing tho minimum prices.” The writer condemns the sale and the resale of meat while on the high seas or in cold storage, and declares that this speculation and changing of hands is specially noticeable in tho case of colonial consignments. It has been suggested that cold storage is not used to hold up supplies against a. rise, but he declares that that is exactly the purpose for which it is used.—A, ami N.Z. Cable. WHEAT AND BREADSTUFFS. INDEPENDENT LABOR FARIT’S PROPOSALS. LONDON, January 28. (Received January 29, at 11.10 a.m.) In giving evidence before the Royal Commission on Food Prices in regard to wheat and breadsfuffs, Mr I. F. Wise, a member of the Food Council, explained tim Independent Labor Party s policy in respect to food prices and supplies. He expressed the op in ion that the stability in the price, and the supply of wheat was impossible until Russia, was again contributing a substantial quota. Thus it appeared that in tho future Europe must look for her supplies mainly to Canada, Russia., and (in much smaller quantities) to Australia, South America, and in some years to India.

The Independent Labor Party proposed that the importation of wheat and flour should be centralised in a specially-con-stituted Import Board, charged with the following duties: —

Firstly: To import all the wheat, a.nd flour required by Britain. Secondly; To eliminate all the unnecessary middlemen’s charges, and to reduce tho distribution costs. Thirdly; To make bulk contracts with organised producers, especially in the dominions. Fourthly: To maintain steady prices for British wheat over as Jong a period as possible, corresponding with flip anticipated average prices for imported gram which would be supplied io the mills in quantities sufficient to secure the absorption of British wheat at stated prices. It was proposed that the board should be ’guaranteed by the Treasury, under parliamentary sanction, a working capital sulliciont for its operations, and which would proceed on ordinary business lines without political interference, —Reuter.