MEAT CONGESTION

New Zealand Herald, Volume LXXVI, Issue 23302, 22 March 1939, Page 9

MEAT CONGESTION

FREEZING STORES TAXED LACK OF SHIPPING SPACE WORK STAFFS REDUCED Pressure on storage? spnee at meat freezing works throughout tho Noltli Island has become acute as a result of the inadequacy of shipping space allotments for the current period of the season. The restriction on killings at the West field and Southdown works, which has been operating throughout the early part of this month, has been increased, and at the Westfield works it has been found necessary to reduce staff this week by some J2O to 130 bands.

It was stated by the managers of the works yesterday that the companies had reached a position in which they could operate only on a "kill and load basis. As meat was loaded out from the stores, so fresh killings could be undertaken. This meant a loss to the companies as well as to the farmers, as not only could much larger numbers of stock be bandied under normal conditions, but. farmers were obliged to hold animals during a particularly difficult time. Dry weather was seriously affecting pastures, and stock was bound to lose condition as a result of the delav.

Cattle are chiefly affected, as preference is being given to the killing of lambs and pigs where possible. Both classes have passed the peak of the season, but more pigs are available than lambs, which already are showing the effects of the dry spell. Difficulty had been experienced with chiller cattle, but the position in this class of meat will be further relieved by tho loading of several steamers early in April. In frozen meat no relief can be foreseen until at least, the end of April. The Overseas Shipping Allotment Committee will he allocating April space next week, and, although the industry has no idea of what will be made .'nailable, it is hoped that allocations will be on a liberal basis. Meantime, exporters have practically stopped all buying, not being prepared to accept tho risk of holding stock until killing facilities become available.

While it is felt tliat space requirements have Itoen under-estimated, it is also believed that the sudden onset of the dry spell has greatly accentuated the position, causing farmers to rush stock to tho works before pastures are burned up. Two days' good rain would be a boon at the present juncture.

PRESSURE AT GISBORNE POSSIBILITY OF KESTIUCTION [nv TEI.KGHAPIl —OWN CORBKSPOXIIF.NT] GISBORXE. Tuesday A shortage of freezing space at the Kaiti works is threatened, and. if heavy killings continue before relief is provided, consideration may have to lu< given to imposing restrictions. The position is not nearly as acute as in some other centres, where restrictions are already operating, and there is no suggestion yet of killings being curtailed, but the situation has developed to a stage where it requires close attention. Shipments of frozen meat from Gisborne have not been frequent this season. Following the Port Denison's departure on March 11. no further vessel is scheduled for loading meat in the Gisborne roadstead until the middle of next month. Mr. F. Tolcrton, manager of the Gisborne Refrigerating Company, Limited, stated that the freezing chambers would be full by the time the next ship arrived if killings continued as at present. The dry weather was causing fat stock to arrive at the freezing works in large numbers, hut it was impossible to say hew long that would last. Th 6 butchers were still dealing with approximately 4000 sheep and lambs and about 150 to 170 cattle each day and the freezing chambers were filling rapidly. The killing tallies for sheep were ahead of those at the corresponding date last year, although lambs showed a reduction.

LUSTRE HOSIERY, LIMITED PROFITS AND DIVIDEND RISE Not profit of T,nst.ro Hosiery. Limited. Sydney, for t!ie rear ended Decern ber .'sl amounted to £31,0-16, compared with £33.457 in the previous year. Tlie profit was struck after providing £24,565 for depreciation, whereas in 1937 depreciation was £20,792. Dividend on both classes of shares is 8 per cent, compared with 71 per cent in thr* previous year Dividend absorbs C 24.800. and, with £13,497 brought forward, there is £15.116 carried forward, after adding £1596 to general reserve.

The directors state that difficult overseas and local conditions experienced in the trade throughout the Commonwealth during the last four months of 1938 prevented the company from obtaining the full volume of profitable business which the experience of earlier months of the year indicated.

BASE METALS FIRMER LONDON MARKET RATES LONDON. March 20 Following are to-day's quotations on tlif London metal market, compared with those of March 17: Mar. 20 Mar. 17 Per ton Per lon £sd £ s d Copper, stun., spot 12 13 It 42 8 0 Copper, stnn., 3 mos. 12 10 I'-' a 12 It 11/,l l/ , Copper, electrolytic IS 0 0 17 15 0 to to 48 15 0 48 15 0 Copper, elect., wire, bars . . .. 4R 15 0 4K 15 0 Lead, soft, spot .. 1t 13 I' 411 13 IV, Lead, soft, forward 14 HI lo'j 14 IS 1% Speller, spot .. 13 13 13 11 10% Spelter, forward .. 13 10 I0 1 , 13 HI 10% Tin, stnn., spot .. 214 17 0 213 12 <i Tin, stan., 3 mo*. 21 t 0 0 213 2 0 MINING NEWS YIELDS OF COMPANIES Clutha River (Otago).—l42oz. in 142 hours. Gillespie's Beach (Smith Westlnud). —390/.. 14dwt. from 16.042 yards in 127 hours. Okarito Dredging (South Westland). —2soz. in 125 hours. Wellington Alluvial* (New South Wales). —Four weeks ended March 4 a total of 400oz. from 103,000 yards in 257 hours. REPORTS OF MANAGERS Una Hill Conioliriateri (Thames).—During the week ended March 17. Ihe Inclined drive was advanced a farther lift., making liOft. down from the No. 4 adit level. The leader encountered last week shows coarse gold in patches with fine gold freely distributed Ihrough Hie quartz. The leader appears to be a continuation (seaward of the Flinty break) of (lie Occidental Reef. The ore is typical and lis occurrence may prove to he nn important development. In Ihe meantime work will continue without interruption toward the reef Junction at the 200 ft. level.

NEW GUINEA COLD SHARES LONDON, March 20 On the mining market to-day New Guinea gold shares sold at 1» 3d.