FROZEN PRODUCE LETTER

Otago Daily Times, Issue 17081, 13 August 1917, Page 13

FROZEN PRODUCE LETTER

ANOTHER. STEP IN MEAT CONTROL. SOUTH AMERICAN PROFITS.

(Fboii Odp. Special Cokrespondent.) LONDON, June 5. A moro or; less chaotic state of affairs reigns in the meat market at the present moment We seem to have arrived at another of those progressive stages or milestones in the war history of the trade, when further restriction may be 'looked for in relation to Government control. A month ago the frozen meat section was boiling over at the grievance thrust on them by the Americans backing out of their promise to sell cheap meat, but cutting up carcases and selling at 10 per cent, increase. Ihe result of that controversy was that the Government effected a sort of compromise which did away with 75 per cent, of the cutting complained of. Now wo have the larger imbroglio in which we are landed by th® public complaint against dear meat and the step taken by the Government towards fixing maximum prices. Just at present the position is not clear, but, at any rate some step has been taken to deal with that difficult and complex problem, the control of the home-killed meat interests. The Meat Sales Order, 1917, which has been announced, is in two parts, the former part coming into operation on June 11 and dealing with the sales of fat cattle so as to prevent multiple handling and consequent raising of price before slaughter The second part is stated to have as its object the elimination of jobbing transactions m dead meat sales, providing that any salesman may only sell the dead meat he has bought to a retail butcher or to a consumer. A salesman selling a carcase, side or quarter may only charge 3d a' stone above the price at which he bought, but he may chargo • a further Id a stone if he cuts the carcase, side, or quarter into smaller joints. Meat importers can only chargo Id a stono for carcases, etc., cut into joints above the price charged by them for carcases sold whole.

FROZEN TRADE, LIMITED,

Ten days ago it was stated that arrangements had been made for an increase 'n the releases of "Colonial" ewe, mutton, and lamb, but tho Board! of Trade has not carried this out, and consequently the frozen beef has been arriving more abundantly at intervals, and States beef has been in good supply, but in_ the present hot weather the demand for this has only been slow in snite of the fact that it has been moderately cheap at lid per lb. Chilled Argentine beef has been 10' d for fores, and 13for hinds. ARGENT 1 NE COMPANIES' PROFITS. The reports of ihe two British-owned feouth American frigorifico companies on their past year's trading do not show much variation from th© fortunes of 1915, and the fact that the British and Argentine Meat Company (the combihation of the old River Plate Britisn Meat Company and James Nelson and Sons, Ltd.) is able ao-ain to pay on a year of moro or less Govern-ment-controlled trading a dividend and bonus equal to 12i per cent, to its ordinary shareholders, and 8i per cent, to its nreferenco shareholders; and tho SmithfieM and Argentine Meat Company, a smaller concern, a dividend and bonus amounting to 15 per cent.—both of these distributed being made after excess profits income tax is settled, —indicates that tho Argentine producers have still been in enjoyment of a very profitable career. As a matter of fact the net profits of tho British and Argentine Ccmpany represent about 5 per cent, on the turnover, a by no means excessive amount;, but yet, perhaps, quite 2 per cent beyond that at which tho gigantic Beef Trust firms .are content to work, m viov* of their inter-organisation. Some of th'j remarks of tho chairman of the British and Argentine Mciit Company at tho annual mooting of his company aro of special in, terest, as throwing light on the present posi- ; r J- A- Wood said that, of their total shipments, only 20 per" cent, was available for sale to tho civilian population J. lie prices paid by the company f w ]J V o stock in Argentina should, he added, certainly have the effect of increasing tho breeding of caitla, in that country suit

S'mo d W m nf Cam P allia altogether nearly oa.UUO tons of frozen or chilled meat or frozen sundries during 1916 ThmV ™ >ng director (Mr Sidney long personal visit, had been able to report £*•» opportunity had been foLd for starting work m Brazil at Rio. A small subsidiary company had been formed Told The' lf ß S and ß A Ca and , bl, siness started. a " d A - Company's sales last year ust £8 of»n n or/i an abroad were value/ at just £8,000,000, and during the year the cold storage accommodation and by-product enlarged a m?'" pana bec n c °n s ide r ably he Smithfield and Argentine tho i^ mPany l ak ° taken advanfage of the good year to enlarge its works, which its for , which Purpose us capital had been enlarged to one million sterling authorised, £600,T00 issued. " POST-WAR MEAT COMPETITION. Sni^ G it i is S V f^ SS is undoubtedly \dmLbl7^til^te^ r f o en^ to fe ti fiTSfK CfSSTL*? portamf, »ill not bo ™,°K market ln iTn t r J on ?l, y l° r °° m P oti tion in this market. Under the handicap of greater dia. frV 06 ' f 3i x increased difficulty of refrigerated transport, tho Antipodes may be so favourably placed. France? H believed, will-be inclined to neglect Wn po°r a ts 10 T r £T- ur of chmet i ports, as the national habit of the not nn feu, or boibng-pot cooking, 6 Cf t sur | m f at an almost imperative necessitv Si c &/ a th tir r Se SSSSvi to Ci th- hands if - they c «apl chilled meat * Much an 'l organising, may have to be £ ? 4.1* ac^levo this with entire success tackled* 3 the° bSter ° Pr ° Mem * thoro^W