ARGENTINE MEAT

New Zealand Herald, Volume LXXV, Issue 23196, 16 November 1938, Page 11

ARGENTINE MEAT

INQUIRY IN BRITAIN M • : • • ' . • • ■. : "h % - £ - COMPANIES CRITICISED HELP NOT FORTHCOMING V [FKOM OUR OWN CORRESPONDENT] LONDON, pet. 27 Strong comment upon the attitude: I of importing companies, with three ex-/£ ceptions, toward the provision of facili- kties to the Joint Committee oil Inquiry, into the Anglo-Argentina meat trade ; for collecting evidence is made in tji'ei s Board, of Trade report. It is si own, for-V instance, that on a margin o:: 3d p®tX lb. of profit as between the stage purchasing the cattle in Argentina and'".? ' the point of wholesale distribution Jdu-" the United Kingdom thjp profit realised ' on the whole chilled beef trade 1934 would have been £2,47(1,066. The report states that "the: stage .is ' past when secrecy, unlimited pirofits, or \ cut-throat competition can !ii© justified," and that the companies l engaged} in the trade "should realise that their security to continue can rightly be made conditional on their being able to convince the public authorities in both - countries that in their operations they... are really rendering service of public' > value at no more than an equitable £ charge." The inquiry arose not so much from-: the British consumers' standpoint as/ from dissatisfaction felt in Argentina producers of beef cattle at the prices*" paid to them for their stock. It alleged that the packing companies have. .'." been able to retain a comparatively *, sheltered position "and to pass the -, main shock of the economic crisis on ! to the cattle producers." The companies criticised are consider- Hi ing the report, which also stated in recent years 85 per cent of the traddr * ' was controlled by six companies. These/:' : include Armour and Company, Swift I . and Company, Wilson Meats,/ and Argentine Meat Company , and the j/f . Sansinena Meat Company. A. P- Poels. and Packing House Products are also f' interested. These two and also Sansi-'j; nena Meat Company alone, ■ iiccording ' to the report, did not refusal informa->j tion. ; ■ ;■ ,!r v The British and Argentine Meat-.;' Company is a subsidiary. of • U:i lion Coild;)* Storage Company, which has an issued. . | capital qf £12,000,000, and controls number of companies engaged in the'X meat trade. Mr. Roger P. Sin||| is chairman of the company, which largely. controlled by Lord Vestey. Armour ahd'j. Company is a private company and am subsidiary of an American cojnpany-Of similar name. Issued capital is £2oo,Ci|)Ct/ in £2O shares. Swift and Company |fi(% similarly controlled itrom America and, is a private company with an issued?' .capital of £IOO,OOO id £lO shares. WUv' son Meats is controlled by an can company. QUOTATIONS FOR WHEAt LONDON AND! LIVERPOOL FUTURES IN CHICAGO ■ ■' /; london, Sfor. i±!J Wheat. —Cargoes are unchanged,, but? parcels are firm. Futures:-—Londo^i' November, 22s 5Jd a quarter; March,;, 22s 4d. Liverpool: December, 4s sf)i£ a cental; March, 4s sfd; May, 4s 6id. ' CHICAGO. Nor.-V' Wheat. —December, 63J cents "a*" bushel; May, 66; July, 66. HIDES AND SE3NS EASEP^ GENERAL DECREASE SHOWN i; '",t > ' «r.r Prices for hides at the fortMßhtly ratttr held by Auckland brokers yesterday decreased Id per lb. for almost evory line, although competition was reasonably keen. Pry sheepskins also eased firom %d to VA per Jjj.-y Prices for be&t grades were:—V' Hides.—Ox (abattoirs), heavy, 6%d per lb; medium. 6%d to B%d; light,'; 5%d; ox (country butchers), heavy. 5%d U)'f sVad; medium, 5d to 5%d; lijtht, sd; cow (abattoirs), heavy, 5%d; light to medium, 5%d; cow (country butchers), heavy. 4Vad; light to medium. sd; farmers' (all weights) v--3%d to 4%d; yearlings (abattoirs). heavjJJ G%d to 7Y t d-, light to medium, S%d to B%d: second grade. sMtd to 7d; faulty and cut, 5d to GVid; calfskins. 31b to iilb. B%d tor B%d; seconds and cut, 7%d; slippy, Salted Sheepskins.—Three-quairter *to tnukf wool, large. 5s 9d to 6S 3d each; 4s 9d to 5s 2d; light and-small, 2s 9d to 4s; quarter to half-wools, pelts, Sd to Is; other grades relatively lower. j. ■ ; Dry Sheepskins.—Three-quartsr to fufl- r wool, medium to fine crossbred, BV«d per Hftfi damaged and faulty, 5%d to 7%d; medium to fine crossbred. 7V£d t» 7%d; damaged and faulty. sVad to 5%d; bare to quarterwool, sound, 4d to 4%d; damageii and faulty, 2d to 4%d. , ' Tallow.—Good quality. 12s to 13s 6d per cwt: second grade, lis to 11b 6d; third, 9s to 10s. k