wr prices to be paid to the producer and as to quantities to be shipped, their ownership both of works and means of distribu- tion would place them in an unassailable position in the chilled beef trade. Their potential power in this respect has recently been the subject of investigation by the Royal Commission on Food Prices, which recommended that future developments should be closely watched by the proposed Food Council. Lastly, control can be attempted through the ownership of retail shops. This is a most difficult form of control to exercise— unless it is accompanied by control of supplies—as owing to the smaller capital needed for retail trading, competition more sasily arises. Butchering is a highly skilled trade, and its success largely depends upon the individual who works at the block. To operate the business in a large way, administrative abilities of a high order are essential; but, even given these, experience shows that multiple meat-shops not infrequently pay less than similar shops independently owned.* To sum up, it cannot be said that the British consumer, so far, has suffered from the growth of “ big business” in the imported meat trade. In the Australian and New Zealand trade, no company dwarfing the others has yet arisen or is likely to arise. There are grounds for uneasiness regarding chilled meat supplies, but, in this case, there are limiting factors, for though the American companies constituting the South American group are powerful, and two important firms, namely, Armour and Morris, have recently amalgamated, they are not sole operators on the market: there is a parallel British combination, namely, the Union Cold Storage Company, in addition to two smaller independent firms, one of which, the Smithfield and Argentine Meat Company, is British, and the other, the Sansinena Company, is South American. The high degree of perishableness of chilled meat, and the ‘ waywardness” of the market, impose limits to any price-fixing policy, which is again affected by the com- petition of fresh-killed supplies and by Dominion supplies of frozen meat. In the case of fresh-killed meat, for example, a telegram fetches supplies from, say, Liverpool, or as far away as Aberdeen for the next morning's trade. © wer © mort Af 7? val Commission on Food Prices.” Cmd. 2390. IO