The Profits of the London Middleman.

Mataura Ensign, Volume 17, Issue 17, 4 June 1895, Page 5

The Profits of the London Middleman.

A PRACTICAL ILLUSTRATION. An Account sales of a shipment of 145 bagß oats per " Port Albert " to London, per the J. G. Ward Association, on account and riskofMr Frank Milne, Chatton, was produced by that gentleman at Saturday's meeting of the Gore Farmers' Club. It showed that the 145 bags realised 3d, a total of LI 16s 3d, and the oate, which were Bold at 2s 5d and 1-llth of a penny per bushel, equal to LBS 7s 1 Id— a gross credit total of LB7 43 2d. The charges amounted to no leas 'than L 46 7a 9J, of which the large proportion of L 35 4s 6d was incurred at the London end, and only Lll 3s 3d from Bluff— thus making the nett sale of the shipment, L4O 16s sd. This transaction, Mr Milne said, showed that the middlemen received a half of the worth of the producein his case they got more tnan half. Mr Dun, who had shipped a similar consignment, confirmed what Mr Milne had said, He stated his belief that ths charges were arrived at by a system of averaging. His total coßt per bUßhel to London was 13£ i, and he thus had a clear Is 2d out of the speculation. Mr Sloan Millar did not think that "averaging" was practised— anyway, hia returns brought him 2s 6^d a bushel, and he did not suppose he had ueen better treated than his reighbors. Mr McQueen said the lesson evidently was that they must Bhip quality as well as quantity. The matter than dropped.