FROZEN PRODUCE LETTER.

Otago Daily Times, Issue 16120, 8 July 1914, Page 12

FROZEN PRODUCE LETTER.

MEAT MARKET'S FIRMNESS. A 0.1. K. FIIAUD. (FfiOA Oca Own CoKnsapONDura.) LONDON, May 29. The pos-it.ion in file meat market this ■A'l.i'k-i'ud is thjft .sakts an; ikisi-*;L>Lo and i.'V.;n i any in l.irjjo lines lor million at current I'iiu.o il l.lic !*-llers Will give storage to the meat f<.r a, month or tw until the buyer want.-; uelm-ry ol it. i'e.rhaps tliiu statement iw a.s eloquent as any of the strong confidents tin re i.s of tin; near future, vliw is* not discounted; the meat trude hero expects the is'cv/ Zealand sruson to lx! not jiji unduly lung ono. Australian mutton are aimo;t exhausU.il, and Kivoy Plato mutton is only available to any extent in the heavier v/eighte, so that New Zealand mutton h:is full sway just now, and tho output -here is distinctly improving at tho easier rates now ruling. Tliero ie quite liecn ooin.pelit.ion for cargoes afloat, I lcaiii, anj if the New Zealand l season should provo no longer than some expect there may ultimately be insufficient meat to last through the entire season. Light Canterbury iambs are fetching to-day.

BEEF BETTER . Frozen beef in some respects shares the present tendencies of mutton and ktrnb. As a matter of fact, forward business in beef is at a standstill, as buyers are hardly willing to pay the rates aeked on a firmer market. But holders have confidence of tho future. For ono thing, tho return of really cold weather at the end of Ma,y has considerably strengthened tho retail demand again. No confirmation can bo gained of the report that the South American freezing works—English aud American owned—havu arrived at another compact to limit supplies of chilled beef on tho British market. Nevertheless, tho tradn in London is firmly convinced that this arrangement hae been mack, and the better tone noted in tho market results from this belief, which, like sundry other impressions that at times gain hold of Smithfield, has grown froni a mere belief into a sound and rooted conviction. FALSIFIED DATES Whether or not the wise will come into tho courts I cannot say, but one of tho faulty frozen meat shipments arriving recently—there has boen trouble in several of late —points to the perpetration of a deliberate and wicked fraud on tho meat buyer. Without naming tho vessel, it may be said that one firrn of importers here, struck by the fact of its late arrival, has discovered that the date of the bills of lading for a largo portion of tho frozen sheep and lambs on board was actually earlier than that on which tho ship arrived in port to load, and beforo tho date of the freezing works' certificate. It cannot be thought but that tho parties inculpated will do everything to see that this matter is hushed up. However, it reflects very gravely on someone, and is calculated to shake tho foundations of confidence which, of co-uree, are the whole mainstay of the o.i.f. trade. I may add that it was an Australian port which is concerned.

P. AND 0.-8.1. COMBINATION. The latest shipping combine, that of the Peninsular and Oriental and tho British India interests, is one which, although it concerns two important companies and two sea-carrying concerns which are also big refrigerated transporters, does not represent any striking coup or change of contending interests as have some of the recent combinations in the chipping world. It is generally recognised that the chief importance of the combination is the placing of Lord luchcapo in the managing directorship of the combined concern. Sir Thomas Sutherland was a feature which it was impossible, in a way, to replace, and one, moreover, whom it is essential to succeed, in his advancing years, with a figure head at once alert, diplomatic, and skilled in high direction. This Lord lnchqape, who i 3 a personal friend, of Sir Thomas's, may be said to be, and his experience from the time when he was a member of tho wellknown firm of M'Kenzie, M'Kinnon, Mackay, and Co., ae Mr J. L. Mackay, is second to none. Lord Inchcape, by the way, is interested in the Central Queensland Meat Export Company (Ltd.), and also in Queensland pastoral properties. Tho P. and 0. Company, of course, has been interested in routes from Queensland southwards, whereas the British India Line has been from Queensland northwards. PASTORAL PURCHASES. Tho above mention of Queensland pastoral properties reminds mo that a leading London importing house, also operating in Australia, has just recently acquired a very considerable tract of breeding estate land in Australia, as an introduction to a determined policy to secure assurance of supplies of oattle in view of tho new situation opening out through American operations in Australia. This is an important move, because it is the first of its kind that I know of on tho part of any leading British house. It is a sort of reply to those who are standing by and affecting a nonchalant attitude as to the Americans' arrival, and it -will be interesting to see whether this example is followed by others. Of course, Messrs Vestey, the enterprising , owners of tho Union Cold Storage Company, havo purchased land in the Northern Territory, but that was for the purpose, of erecting works afterwards, and not to assure supplying of existing works. Messrs Vfiatoy, by the way, who now have on foot a '"reczing works enterprise in Venezuela, are loported to be making big purchases ot breeding land in that South American State for the purpose of securing supplies for their own enterprise. A LONDON GODDS CLEARING HOUSE. A rather well (supported proposal for a mammoth goods clearing house for London, which has just been brought forward, has some- interest for New Zealauders in view of schemes which have been promoted* in the past for the organisation of imported supplies of produce at London ports. The present scheme, which is on a. gigantic scalo, involves a capital outlay of £14,000,000, and its promoter, Mr A. W. Gatihie, explained its features last month to a. meeting of members of Parliament. The idea is for the establishment of one central goods station at Olerkenwell, whereall work of London goods clearance could bo effected in 1 per cent, of the time, 2 por cent, of tho space, and 20 per cent, of the present cost. Seeing that of the cost of transport of goods no less than 95 por cent, is absorbed in terminal expenditure, the saving, if it could be effected, would bo colossal. It was estimated that the London Goods Clearing House would easily be able U\ deal -with 100,000 tojis of goods per 24 hours. Railway communication would be made by moans of 10 underground tubes of 161 It diameter. An annual surplus of over 9i millions sterling was_ forecasted. Tho proposal ■will be considered further, and, it is not unlikely that &oon there will bo a Board cf Trade inquiry mto the question of transit.