FROZEN PRODUCE LETTER.

Wanganui Chronicle, Issue 12856, 13 April 1912, Page 7

FROZEN PRODUCE LETTER.

STRIKES AND NATIONAL MEAT CONSUMPTION.

BIG FROZEN MEAT FLOTATION

Special Correspondent,

" Christen v re!;1

Press.")

LONDON, March 1. Those who are watching the meat market closely just now to discover sign s of what the complexion of affairs may be later in the year—for the present season is always a fairly cri.ical one—have been rather disquieted by the t end of trade. Frozen meat business has steadily dwindled since my last letter, and, this has been owing to a diminishing retail trade. Thi s is plainly due to troublous times, the fever of strikes in the air having affected the meat purchases of the working classes even in advance of the strikes themselves. Although this can bo proved, the better class home-killed trade has, on the other hand, been unaffected. Smithfield market, for instance, has received and cleared 7,000 tons more home stuff since November Ist than in the corresponding period a year ago—in the past weeit Britishbred meat has increased 303 tons in supply. The remarkably mild weather ha s surprised even the farmer himself as to what stock he has been able to get off the land. I have heard more than one illustration of the actual fall-ing-off in the working class consumption of meat, i.e., frozen meat. Butchers are quoting on market the way their customers are "drawing in theirhorns" in mea; purchases.

THE* YEAR'S PROSPECTS. • There is little doubt that the prospects of 1912 Jbeing a good frozen meat year are being, discounted a s time goes on. General trade in the country is good, but only to-day the newspaper placards inform the public that a million miners have come out on strike. This does not merely affect their families, but there will be impoverished almost to starvation point the further millions of workers employed in the long list of firms which in consequence of :he trouble, have given notice of discharge to their employees, either immediately or in one, two, or three weeks as the case may be. That is, supposing the strike has any duration, a national calamity whicK will have to be decided ono way or the other long before these words are in print. From the point of view of output, therefore, things could hardly look blacker at the moment, and this being so, the policy of the holders of Australian meat in' going on selling ha s been quite a wise one. SOME COMPARISONS. The new season's market has not opened this year in the way that was expected, and although the quality of the arrivals has, speaking generally, been excellent, forward buyers have not realised the prices they paid. Doubtless, their experience of this time last year will still be fresh in their memory. Prices bo:h of New Zealand lamb and mutton are still slightly above what they were this time last'year, but the rates arc not what they should be if a respectable demand were forthcoming. There are some criticisms that Canterbury lambs in_some cases are not quite up to tho mark in quality—prices range about Jd. in excess of last year. North Islands, becoming more plentiful, are nearly a farthing behind. Australian lamb, merely beeaiise of. its cheapness —4£d. —commands a steady sale. SUPPLIES. Supplies, of course, are short on the year, so far. Australia, in the first seven weeks of this yar, has' sent fully 25 per cent less mutton, and over 30 per cent less lamb, and New Zealand's figures with a later season are also considerably down. South America has sent practically the same amount of mutton and—everybody should note— she has forced her consignments of lambs up quite 30 per cent. New Zealanders should bear in mind this determination of the Argentine companies to make their lamb's figure in the market at this season. With the lambbuying trade it is the critical time of the year, and more attention and cus-tom-winning is done now than at any other time—wherefore the South Americans are to the fore. Chilled beef is down again, and this would have its effect on frozen, but New Zealand beef is unquotable because of its absence from tho market. BUTTER. Bearing in mind that labour troubles, or their shadow cast before them, naturally tend to affect the butter as well as the meat trade, the way butter prices wave kept up is very satisfactory. 130s. to 1325. for New Zealand is pretty well where we stood a fortnight ago; Australian is slightly down owing to receding qualfty towards the end of its season. The discussion lis to the unreasonableness of high values has continued to wago in the trade nress, but the advocates of the genuineness of 1 he position as reflected in curr ;nl r;tes have had all the best of tho arg-unent. With a 27 million Ib. short-igo in tho j United States in the month of 'January, 1912. against 191T, and butter at JG&s. in New York and 100s. in Canada, the situation is universal. By the way, last year 135,5-12cwt. of butter was re-ex-ported from the United Kingdom, as against 68,341cwt. in 1910, this because of the drought on the Continent. New Zealand cheese has firmed up recently, and the trade is regarded as very promising. A MULTIPLE-SHOP SALE.

ITio prospectus of the new company formed by Messrs. W. and "E. H. Vestey to take over the business of W. and R. Fletcher, Lid., recently acquired by them, contains several interesting items. The name of the new concern is the Proprietors of Fletchers (Meat Importers), Ltd., and the capital is £900,000, divided into 200,000 6 per tent, cumulative and participating £1 preference shares, and 200.000 ordinary 10s. shares, with also £250,000 4* per cent, first debentures, all of which, with the 200,000 preference shares, were offered for public aai/.x-ription ten days since. £-iR").000 is the purchase price payable to the vendors, who are taking up* all the ordinary shares and 100,000 preferences, for cash. The prospectus states that tho business has 388 retail shops, besides a number of wholesale establishments in ten leading centres. Thirteen new shops have recently been completed, and a further 16 will be shortly oprned. The annual turnover of tho business in 1910 was £1,481,900, and the average p'-ofit for the past three years £-18,517.' Doubtless, the fixing of tho value of the goodwill at £212.805 will bo considered a very high, figure indeed. The Union Cold Storage Company has a seventeen years' agreement to undertake the company's cold stora g,e.

About a hundred suggestions for inventions are given in our free booklet . "Advice to Inventors." Many ol them are very simple and should make a few fortunes with tho aid of a little deep thinking. Secure a copy of this intCre!H^RY knCOHES, LTD.. In? l<-EVnTF>RSTOX STREET, WELLINGTON.

Tf you want the finest grade. Orfcrirs at bodror-k cash priors—Gibsons and Paferson, Ltd., the Cash Stores.

Fnr Child.-mi s Hacking Cough at night, Wo-vcls' l»r»:it Peppermin* Cure, Is. 6d.,

5«- (id