FREIGHT RATES

Evening Star, Issue 19319, 4 August 1926, Page 5

FREIGHT RATES

A REDUCTION ANNOUNCED mPOOTAOT TO POINT IHDUCTRIES [Per United Pkess Association - .] WELLINGTON, August 3. The Prime Minister announced this afternoon in tho House of Representatives that the meat and dairy boards had signed an agreement with the shipping companies providing for the termination of the existing contracts on August 31, 1927, and that the rates are subject to a reduction of 7] per cent, as from to-day. If the ship has already commenced loading tho reduction will commence at tho next port of loading. The two boards had accepted the new contract for three years from September 1 to August 31, 1930—the first two years at a reduction of 7] per cent., and tho third year at a reduction of 12] por cent., all based on the termination of the rates of the present contracts.

The Fruit Control Board had also secured a contract for four years at a reduction of 12] per cent, on the present rales. The new rate is 3s 6d per bushel case, and represents a saving to fruitgrowers, bused on last year’s shipments, of £18,224 per season, or a total reduction for four years of £72,896.

The new agroment as regards frozen meat represents a further saving (o the meat producers of £617,500 lor the lour years.

The new freight rates, when compared with the rates in existence in 1922, represent a saving of £1,117,000 per season on frown meat, tallow, and polts.

Tho new agreement for dairy produce, estimated on tho shipments for the past season, which were small, represents a reduction of £77,270 for each of three years, and a reduction of £128,784 for the fourth year—a total reduction of £380,594 for the four years covered by the period of tho agreement.