BEEF TRUST IN ARGENTINA.

Dominion, Volume 3, Issue 841, 13 June 1910, Page 10

BEEF TRUST IN ARGENTINA.

RECENT MOVES. A gentleman interested in the meat trade who read the Hon. T. Mackenzie's remarks in Tim Dominion on Saturday as to the appearance of tho Beef Trust in the Argentine meat trade has directed our attention to tlie'following from the Argentine correspondent of tho "Pastoralists' Review," published in tho April issue of that journal:—"All the freezing companies have reported steady work, and presented satisfactory bal-ance-sheets. Unusual interest centred round the action of the North American Trust in carrying out the plan of campaign to acquire controlling power of Argentine beef supplies. In April the purchaso of El Argentino Frigorifico by Armour and Co. was confirmed at £550,000 sterling. In June tho same firm acquired laud at La Plata close to the frigorifico of that name belonging •t) Swift and Co., on which . freezing works are to be erected. In September one learnt that Swift and Co. are' .to put up works at Zarate, close to the Smithficld and » Argentine Company's Factory; - subsequently National Congress passed a Bill permitting machinery, etc., to cdrne in duty free; it was also announced that Swift and Co. intend extending their La Plata works." Tho same month a concession was granted to Theq. -Bracht. (representing the {Trust) .to'.erect' freezing works at La Plata of capacity to deal with 400 cattle and 4000 sheep per day. During July/and. August:a: fairly, large buying of Smithfield and Argentino shares oh the local Bolsa was generally.voted as for account of the Trnst. Just about this time rumours were abroad as to purchase of the Nelson's concern at Las Palmas, but they turned put groundless. Towards the close of November it became'pretty certain that Armour and Co. will build near the Smithfield and Argentine : and the River Plate' Fresh Meat Company's works on the Parana". The Trust,' in November, acquired tho closed .. down 'freezing, works at San Nicholas."