1927-12-10 — Page 6

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THE HONGKONG TELEGRAPH,

HOME MEAT “WAR” ENDS.

· RIVALRY THAT HAS COST TRADE £30,000,000.

CHILLED BEEF DEARER.

After more than two years of aut-throat competition, with con- acquently Beavy losses

to an concerned, the eight Argentine ment exporting firms have settled the matters in dispute between them and expect to have their busi- ness .on a profit-earning basis again by early in December, says a Home paper:

The four chief points at issue have been thrashed out at a ten days' conference which concluded late last night, and the Meat Conference, which ceased to func tion in March 1925, is to resume its deliberations.

At the ten days' conference concessions have been made by all the firms engaged in it (says the Finducial Times.)

The chief points at issue

were:-

the

be-

(1) The ratio in which trade was to be distributed tween the exporting firms; (2) The position of new panies and their claim to a per- cantage;

.com-

(3) Allowance for new works and expansión;

(4) Claims for higher, quotn by American Arms.

In all, eight importing firms are directly affected by the dispute over the quotas. These are Vestey & Co., Armour & Co., Swift & Co.. Smithfield and Argentine Meat, Wilson & Co., Sansinera Co., English and Dutch Meat, River

Plate and Continental Ment.

The first three comprise the large companies which between them handle 69 per cent. of the imporis. Disagreements Wreck Conference,

The Meat Conference was form-[ ed in 1911 to regulate and control

SATURDAY,

the trade, but owing to growing disagreements between larger com- panies on the above questions it broke up in March 1925.

Many formal and informal meet- Ings have taken place since, be tween the members of the old con- ference, to try and solve the pro- blem of percentages but without success.

On several occasions unofficial reports of an agreement haying been arrived at have been cir culated, but these have never aubsequently been confirmed, and the companies have continued their detrimental policy of com- petition instead of the previous conference plan of co-operation.

Before the differences arose the firms interested in the Argentino meat trade consisted of three large companies two American and One British-and three small. er companies-American, Argen tine, and British.

Previous to the break up of the conference the proportions of the trade were 68 per cent..to the American and 41% per cent. to the other companies.

The Start of the Fight. Two of the large companies sub- sequently erected new works in the Plate, and that is alleged to have begun the fight.

The facts were that two new works from

two old companies purchased

a British company. and they had to be provided with a percentage of the trade.

DECEMBER 10, 1927.

In consequence, there has been cut-throat competition between the companies, rates being reduced and supplies being sold in excess of market requirements, so forcing prices down to below the cost price of the produce. Lossou were inevitable and presumably it is the realisation of the seriousness of the position that at length has caused reason to triumph.

What will the Increase Bot During this "war" prices have been cut to admittedly uneconomie prices (says a correspondent of the Yorkshire Post), and it has not been denied that the testants have suffered the, most severe losses-put in some quar tors at as much as £30,000,000.-

con-

From the point of view of the British meat producer and the consumer, the agreement now understood to have been reached is of great importance. Varying estimates have been put forward as to the probable. Increase in the retail price of Argentine meat which is likely to follow the "armistice."

It has been suggested in some quarters that the effect will be ah) immediate incrense in the price, by as much as 2d. a pound, but one of those who has been engaged in the "war" considers that estimate to be ridiculous, and thinks the increase is more likely to be in the neighbourhood of d. to 1⁄4d. a pound.

The negotiations which have proceded the settlement have been The big British company erect.carried on in an atmosphere of ed new works, as did also the big great secrecy, but I have authority American company, and dispute for stating that the view of the that the new arose over the changes in the participants is quotas made necessary by the claims of the new companies for a share in the trade and those of the old companies for the right to retain their ratio or increase it in consideration of the expenditure on extensions.

The problem of assessing justly and to the satisfaction of the several firms the proportions of the trade to be allocated has "baffled all attempts at an amicable

solution until now.

freight committee to be officially known as a "freight conference" will succeed in satisfying the com- peting interests in regard to the total amounts of chilled beef to be imported in future and the amount to be allotted to each firm.

"What is required," I was told (says the Post correspondent, in conclusion), "is" a regulation of supplies to prevent violent fluctua- tions of importations, and that will, be the first duty of the new freight conference,"

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Sale Agents

W. R. LOXLEY & Co.

Christmas Bazaar That Promotes Economy in Joy

Chinaware for Christmas Feast Now in Full Swing!

We have grouped a large selection of chinaware

for Christmas requirement. Included in our collection are GENUINE china tea sets in Chinese design, imported dinner sets, coffee sots, cups and saucers, and pudding bowls,

Buy Her a Bottle of Scent

There is nothing more sentimental than a gift

of perfumery or toilet articles. We have made a thorough search for the preparations that appeal strongly to the fair sex, from-

HOUBIGANT, COTY, RICHARD HUDNUT, PIVER, CHERAMY, COLGATE, ETO. Charming Gifts of Chinese

Silverware

Exquisite Chinese handicraft rendered in pure silver representing curios, ornaments, toilet articles, table requisites, and all sorts of useful thinge.

Cutex and Manicure Sets

One of the finest selections we have ever made and stocked. Just the things every woman likes to beautify her nails.

Cutex Sets $2.50 $4. $4.50 Manicure Sets. $5 to $30

For Fun of Christmas

The following are abundant and interesting in our stock, which mean so much to your hap piness in Christmas Eve.

CRACKERS, PAPER CAPS, MAŠKE, FIREWORKS, XMAS TREE DECORATIONS.

SHOP EARLY

Why still hesitate. Time is increasingly pressing. If you are confronted with the problem of Christmas shopping, let us help you. Truly, this is the Store full of wonderful gift suggestion for everybody, and you will get things, here JUST AS GOOD besides the advantage of MONEYSAVING. All we urge you to do is to

SHOP EARLY AT

Sincere's

HongKong Emporium

Artistic Chinese Design

Phonographs

Something new! An array of artistic portable phonographs just turned out to our special order. The wooden cases are richly lacquered, with pictorial, flowery, or mottled design in various charming colours. It is the Chineas labour that make the prices so law; but not at the sacrifice of the officiency of the motora which are of best Swiss make. Nickel-plated reflector. Double spring. A delightful present. $27.50 $28,50 $30

Give a Watch for Christmas

A gift of good timepiece is a constant remin- der of the giver, You may draw on the wealth of our collection which consists from the reli- able nickel ones to the luxurious platinum, at attractive prices.

Ladies' Hand Bags

For, Holiday Gifts"-

Very fashionable indeed! The bags any wo- man will be proud to carry. Made of real morocco in various enticing colours, with compartments for mirror, nate book, handker chief, and money. ..

$14.50 to $30

Also some cheaper kinda from $3 Tons of Christmas Candies

Our assortment of Christmas dandies is un-. usually rich, and they are priced at such a wide-range that any requirement in candies for gifts can bo gratified -FANOY BOX CHOCOLATES, CRYSTALÍS. ED FRUITS, TURKISH DELIGHT, XMAS PUDDING,, BUTTER SCOTCH, NOUGAT, ETC. ETC.