TINNED MEAT.

Poverty Bay Herald, Volume XLVI, Issue 15081, 2 December 1919, Page 7

TINNED MEAT.

HEAVY AUSTRALIA^" STOCKS. SERIOUS POSITION DEVELOPING. There is-: threatening ini the canned meat trade a. crisis ' which may prove E'erious for. fitockownersvand'-thd^sandb ofemployees in -Sydney, says, the Sydney Daily *Telegraph of November 15. •; Operafons at Homebush are elomtrg down; one* has stopped, .and- the- others fear they r will .ha-ve-t6 cease '.very soon. The difficult}' lies in the lack -of markets/ It is estimated, that £1,500,000. worth of Australian tinned meats here- aud x>n, the water is unsold, and news. from London ia discouraging. • <. ' , . - , .. -.. Large, stocks, of ca.nned meat have accumulated in. Great Britain,'.' from North, and South America and Australia, and the market, for" them is limited to theBritish Isles. British contracts wjth Russia have been, ■cancelled, • and otljer European countries, while- willing to buy, have not the money to pay. ■ . ' The British Government is letting -its stocks go. cjioauly— at much less, indeed, than is paid lor them. Even, then 'the market is too limited. Opera.tpre at Homebiish who were ' paying up to .s^-d six months *go are now .paying as low as 2^d per lib.. At this drop of over 60 per cent, they are asking whether; they are wise in going «on. . They have nx) contract?, and; the speculation,' they say, is rieky now, at any price, aaid c'a'llß for the out'.ay of considd'able <capital.