A THREATENED INVASION
-fr- U* Fob. some time past stories • have been current coiicerunig a projected invasion of this Country by a powerful American. Meat Trust, It has even been asserted that operations have already commenced here, and that negotiations have been proceeding for the acquisition of certain meat freezing works with a view to gradually cutting into existing businesses and ultimately securing the control of the market. Probably the progress made here has been overstated, but the fact cannot be ignored that in Australia the federal Premier recently declared that
ho was watching developments in the Commonwealth, where an American Trust is operating; while in this Dominion Mr. Mas«ey has indicated that he l'ms reasons to believe that it is necessary to keep an alert eve on what is transpiring here. In the Argentine the American Meat Trust has been at work for some time, and according to a recent issue of the financial Times it has made progress at the expense of the English and native meat companies. In ordsr to secure the complete control of the chilled and frozen meat trade from the - Argentine, the American interests, it is stated, have been willing to do business on almost aiiy terms, cattle in cnoriSoiis quantities having been bought at inflated prices, mainly with a view to preventing their acquisition by rival interests, and quite irrespective of their probable market _ value when slaughtered. This policy has been pursued in tho belief that as soon as the English branch of the industry' has been captured, selling _ prices can be raised to a level which will recoup the Beef Trust for its present losses, Sonus idea of tlie poWfir and magnitude of these Trust operations can bo gathered from a glance at the funds at the disposal of the five companies which until quite recently were known as the National Packing Company. According to tlis ,11 '(ill Street Journal they were as follow : Capital. Resßtvo. X .£ Swift and Co 15*000 fi.7(ie.Wi9 Armour and Cs, 4,150.006) 1.7,000,000 Mortis awl Co- 800,000 Cudidiy and Co 2,45fi,M0 1,120,000 Siitabefger ami Sons 1,1.00,000 28,G;>0,()00 S'l.JjO.MO' The turn over of those firms for last year is stated to have amounted to 525J,000,000, and the net profits to £<1,210,000. The financipl Times holds that owing to a diminution in the'available supplies of beef in'the United States, European Russia-, and the United Kingdom, coupled .'with tlic fact that the import duties hitherto imposed in America on imported meat have been reduced, there 1 is a strong probability that during th<; next few years beef and mutton prices' will advance. This is thought to be likely to stimulate the efforts of the American jnter<&bs associated with tlie ines-t trade, and strengthens tho ftecje-ss'ity for a close watch beingkept on any _ movement liable to prove prejudicial t-o the producers of tlic Dominion.
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Dominion, Volume 7, Issue 2146, 12 May 1914, Page 4
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472A THREATENED INVASION Dominion, Volume 7, Issue 2146, 12 May 1914, Page 4
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