The Smithfield Middleman and his Methods.

Feilding Star, Volume XVII, Issue 72, 21 September 1895, Page 3

The Smithfield Middleman and his Methods.

' -. ■,■■■ ■-"■■-■ : .— Or—r- — The statements of Mr Nathan with regari to the Siiiithfield mode of conducting business were in some degree substantiated by an action which was taken in the High Court to compel one of the dealers, to proctace his hooks in confirmation of the account sales rendered to a New Zealand consignor of irozen mutton. He was not satisfied with the returns hence the action. The court granted the order, but the plaintiff never saw the books, and it subsequently transpired that the plaintiff received £7000 and costs. The 'Mark Lane Express,' comment, ing on this business wrote :— " The natural deduction from such a state of affairs is that their must be something very rotton in the London central meat market. The agent alone could not act in tnis way, or he would soon lose all his business. "When a man can afford to pay £7000 to settle a dispute of this kind he must have made huge profits. If tbis were an exception it wouli mean thai others would soon get the trade, for one man could not expect to get it unless he "returned as good profits as others. Another natural deduction which New Zealand sheep farmers will draw is that, the agent in question did not pay the L7UUU as a balance due on the consignment, but that the money was subscribed by the much-denied Sruithfield ring to prevent the methods of the market bemg exposed." This is a matter which should be sifted to the very bottom. There has for long been the impression that more than the legitimate profits are made by the Smithfield dealers. In other words that the actual result of sales are not revealed to the consignors by the brokers. They are simply brokers, and if they sell atonep'rice and render account sales at a less, they are liable to be criminally prosecuted. This is no doubt the secret of the payment of the L7OOO. A criminal prosecution or two would go a long way towards breaking up this ring.