“Cut the Losses ”

Hawke's Bay Tribune, Volume XI, Issue 243, 18 October 1921, Page 5

“Cut the Losses ”

MEAT TRADE IN DANGER. AUSTRALIAN PASTORALISTS’ REQUESTS. CLEARING OF MARKETS SUBSIDY AND FREIGHTS. (Received 18, 10.25 a.m.) Sydney, Oct. 18. A deputation of pastoralists and moat exporters urged Sir Joseph Cook to approach tho British authorities who are holding up Australian and New Zealand frozen meat in England to tho prejudice of the colonies, with tho suggestion that Britain cut the losses immediately and put tho meat into consumption. They also asked for a subsidy from tho British Commonwealth and New Zealand Governments of £d per pound, and that shippers reduce tho present freights by |d, otherwise the meat industry would approach a crisis. Sir Joseph Cook replied that Britain should adopt a sympathetic attitude even at a sacrifice, which was small compared with the sacrifices made by the colonies that gave England cheap meat during the war. If the subsidy, which would amount to £150,000, would stabilise the industry, no government would hesitate to pay it. Respecting freights ho was unable to offer a solution until the Commonwealth’s five big ships were completed, which would make an impression on tho present rates.—(A. and N.Z.) BEEF SLUMPS HEAVILY. BELOW PRErWAR PRICES. (Received 18, 12.30 p.m.) London, Oct. 17. Yesterday the wholesale prices of best chilled beef slumped below prewar standards but recovered somewhat later. The fall is regarded as an indication of the general trend of prices. —(A. and N.Z.)