WAR TIME TRADING

Otago Daily Times, Issue 18676, 4 October 1922, Page 7

WAR TIME TRADING

MINISTRY OF FOOD. FOUR YEARS’ OPERATIONS. Pros* Association—By Telegraph—Copyright LONDON. October 2.' A Blue Book on Government trading to March 1, 1921, states that the Ministry Food from its inception in 1917 to its cessation in 1921 spent £809,913,396 on foodstuffs, including £206,526,849 on frozen meat. It made a profit on the latter of £5,663,559. The Wheat Commission in the same period spent £757,614,968, including losses on cargoes and ships at sea, making a net logs of £152,212,034, which represents approximately the outlay on the bread subsidy. A note in connection with frozen meat states that a profit of £3,000,000 was made on Australian meat in 1919-20, whereas in 1920-21 the operations involved a loss of a corresponding amount. The whole of the stock of Australian 'and New Zealand beef was sold in September, 1920, to a contractor, who intended to dispose of a considerable portion of it in Continental markets. It subsequently - became impossible thus to dispose o-f it, and the Treasury sanctioned large_ concessions to the contractor in 1921, with the result that the net amount realised for the stocks was very materially reduced.—A. and N.Z. Cable. ,