ARGENTINE MEAT TRADE.

King Country Chronicle, Volume VIII, Issue 646, 25 February 1914, Page 7

ARGENTINE MEAT TRADE.

Prior to the advent of the American Beef Trust in the Argentine meat trade the five or six freezin? companies were working under an agreement which prevented ruthless and violent competition. The Beef Trust managed to secure control of two of the meat freezing companies, and the agreement waa speedily broker. Then began a strenuous fight. The Beef Trust's plan of campaign wa" to buy live stock at extreme prices, end sell the meat in London at cut prices, in point of fact, the Beef Trust set nut to wear out the opposition, and has gone very near to succeeding. Messrs James Nelßon and Son, well known in connection with the Argentine meat trade, did not pay the half-year's dividend on the 6 per cent, first preference shares which was due on October Ist last, owing to the adverse conditions. In the previous year this company paid out of profits the preference dividends, and 6 per cent, on the ordinary shares', besides carrying forward a substantial surplus A committee ot the members of the Argentine Senate mads inquiries into the conditions of the trade some months back, and found that the Beef Trust was adopting tactics which threatened to eliminate all competition and place the entire industry in ths hands of a few individuals. The English and native-owned companies pointed out that unless sometbirg was done to improve ths situation they would be forced to close their works, as it was impossible for them to continue killing cattle at a loss to them of £3 to £4 per head. li is announced that James Nelson and Son and the River Plate Fresh Meat Company are amalgamating to fight the American Beer Trust. The Argentine experience makes it necessary for New Zealand to keep a close watch and not to give the Beef Trust the chance of getting a footing here. Fortunately our tradw is principally in mutton and lamb, and the Beef Trust is more concerned withcattle.