CHICAGO BEEF TRUST.

Otago Daily Times, Issue 14581, 21 July 1909, Page 5

CHICAGO BEEF TRUST.

INCREASE OF CAPITAL. ATTEMPT TO CONTROL TIUS WORLD'S SUPPLY. Press Association—By Telegraph—Copyright. LONDON, July 20. (Received July Hi), at 11.30 p.m.) ills Daily lelegraph's New \ork correspondent states that the meat packers in Chicago -ecently issued £11,300,000 worth oi r.sw securities with a view to controlling tho world's market in beef and hides, lho Swifts are spending £3'I0,(!00 out ol' theii £2,020,000 noncapital in purchasing the La Blanca Company in the Argentine. • Sclnvarzschild and Sulzberger failed to secure the I'rigorilico (Argentine) Company. Writing ou June 4 tho Now York correspondent of the Daily .Mail stated .Despite the recent denials issued by ti:« Chicago moat-packers, j. learn to-day from .in authoritative . source that American firms arc negotiating to sccuio the contiol of the meat trade in the Argentine, whence Ivnghmd uraws a. largo part of her supplies.. Inquiries Inivo ai.-.o been made by American interests in Australia and New Zealand with the object of controlling supplies from thosa countries also. 1110 negotiations are being 'conducted through piivalu ugeneics in tho names of ..iriou.i individuals, but there is only one aggregation of capital in tho meat trade here capable of handling so vast an enterprise, and this U tile so-called licef 1 ru-t. It is composed of fo. r big Chicago packing linns—tho Armour. Swiit, .\lorris, an(i Cltdahy Couipanir There is no doubc that tlio Beef Trust is the leal forco works of its own. Tho ultinialo result is to control tlio world's meat supply. " The trust is believed already to own tho La Blanca Company, mul besides ibis there aro only four or live ollwr plains I of iinpoi'tiinco in v:ie moac tra<lc. L learn that tho negotiations have aiivai.iy reached a point at which their success is only a question of price, 'i'r.o sum asked is at present considered too high, but witnin a week the trust will decide either to buy tho existing plants or to erect Works of its own. The ultimate result will bo tho Santo whichever course it adopts. " Tho' question of the control of tho Argentine insat supply has advanced beyond mei'O words add newspaper articles," said iiiv '.nfurniain, who is in a position to know ihc full facts. "Tho representatives oi lite trust lII'O now in Buenos Aires to report whether it is advisable to acquire coniroi of the Argentine plants or to crush them' out by direct competition. I have scon tho blue Tirinis of the new establishments which the trust proposes to erect in the Argentine in the latter event. "Tho British authorities are cognisant of these facts and aro watching tlio outcome with some anxiety, as the American supply of beet is uncertain, and if the Argentine supply passes into the bauds of an American trust tho question of feeding the British public iu iuturc will become a, grave one. " f rom other sources of information I learn lhat the increasing shortage ot American, cattie has led the trust to turn its attention to Iho Argentine. It is prepared to equip its own refrigerating snips to carry beef hore. In connection with these plans it is noteworthy thai tho Senate last week accepted Senator A!drieh's amendments reducing ' iho import duty on all kinds of incur. " In 1903, of a. total amount of' 23 liv'llions' worth of meal and cattle imported inio Britain, 7i millions' worth came from the Argentine, 8 .millions' worth from the United States, and tj millions' worth from Canada, Australia, and New Zealand. Tho Argentine supply is thus of tho extrcmcsc importance, ami if tlio Beef Trust controlled it the price of meat could be raised to high figures."