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get over-heated, abundant drinking water, and, in the case of 
long journeys, mid-way rests. Cattle from a distance are usually 
turned out to pasture near the frigorifico before being killed. 
The frigorificos are models of up-to-date efficiency, and it is 
true to say that no part of the beast is wasted. It is frequently 
asserted that the freezing companies sell the beef at or below 
cost and make their profits out of their by-products. The list of 
the by-products is imposing—hides, tallow, meat-extract, tongues, 
bails, kidneys, casings, glands, blood, &c.; hence, the freezing 
works are not only selling to the meat trade, but also to tallow 
merchants, manure merchants, and to merchants of medical 
requisites. This very specialised business is made possible by 
the large turnover and the regularity of the trade throughout 
the year. 
The cattle are graded broadly into three classes— chillers,” 
“freezers,” and ‘ continentals.” Formerly, buyers from the 
freezing works paid a head price for a * mob ” and sorted them 
out after purchase, but recently it has become more general to 
fix the price for the three classes separately. As ‘ chillers 
secure the higher price, it is probably better for the stock-raiser 
that the second method should be pursued, as it encourages 
improvement of herds. For the same reason, it would appear 
that the dead-meat method of payment is the soundest: it 
ensures for the producer a return measured not only by the 
weight of beef he has produced, but also by the care he has 
taken to grow good quality. After chilling, the beef is promptly 
shipped and, on arrival in this country, is promptly marketed. 
This is a necessity for chilled meat, as its limit of “ keeping ”’ is 
about five to six weeks, which largely explains the organisation 
of the trade. Directly a ship arrives, its cargo is sent to the 
various depdts to which it has been allocated, where it is sold 
even though prices drop seriously during the course of the day’s 
trade. If any of the steamers are held up, say, by a strike, and 
it is evident that discharge will be unduly delayed, the tempera- 
bure in the holds is lowered and the heef is sold as * frozen 
chilled.” In much the same way, when chilled beef is cheap, a 
Smithfield speculator may buy quantities to be sent from the 
ship to cold-store, there to be held until the price again rises 
sufficiently to cover storage and ensure a profit. Such beef is not, 
of course, sold as chilled, but as ‘“ frozen chilled,” and its price 
will depend on its condition and on the state of the frozen beef 
market. It is, on the whole, a dangerous speculation, as the 
heef may show “ signs of storage ” very quickly. 
The trifold classification into “ chillers,” * freezers” and 
“ continentals ” gives to the South American merchant the 
advantage of three markets. In this country, he disposes of 
his best, that is his chilled beef, and he also finds here the 
market for his good beef, which, not being quite of the standard 
demanded for the chilled trade, is yet of sufficiently good quality 
to suit the frozen beef trade in this countrv. a trade. as shown