! 
* 
Storage rates are usually charged per ton, per month. They 
vary considerably in different parts of the country and, propor- 
sionately to the price, are higher in the case of beef than of mutton. 
In London the first 28 days’ rate is at present 37s. 6d. per ton and 
is called the first month’s management rate. The rate covers 
the cost of collecting from the ship, conveying to the store, 
piling and delivering to the door of the store. The 28 days, it is 
interesting to note, are counted from the day on which the ship 
“ breaks bulk,” i.e., begins to discharge her cargo and not from 
when the goods enter the store, which may be several days 
later. After the first 28 days, the goods come on to a daily rate 
of 2s. per ton, with a maximum charge of 33s. for the second 
period of 28 days, 31s. 9d. for the third and fourth. and 30s. 2d. 
per ton for subsequent periods.* 
In theory, there is no limit to the time of keeping meat in a 
cold store, but in practice there is a limit. Moulds, for example, 
sometimes appear, while the meat is also liable to lose its fresh 
appearance. This “store staleness ”” does not necessarily affect 
the eating qualities of the meat; but, as meat is sold on its 
appearance, it frequently affects the wholesale price. If meat is 
allowed to remain in store after deterioration has set in, its 
value may depreciate altogether. When meat is being stored, 
the owner usually inspects it from time to time; he may do 
this by visiting the storage chamber or by having a few carcases 
“ pitched ” on a stall and examining them there. Apart from 
toss of condition, there is also a liability to loss of weight. 
Holding in cold store is a fairly common form of speculation. 
If prices fall because of heavy arrivals, and prospects seem to 
indicate that the surplus will be temporary and will be followed 
by a shortage, merchants buy with the intention of holding in 
store until the shortage begins to be felt. This often enough 
leads to considerable profits, and perhaps more frequently to 
considerable losses. It is usually a leap in the dark, for condi- 
tions in the producing centres may suddenly change and, instead 
of a shortage, heavy shipments may be made for weeks, so that 
the merchant, with charges mounting and his goods in danger 
of losing their freshness, may be compelled to sell on a depressed 
market. Again, he may have seriously under-estimated the 
quantities held in cold store here, and as these will be offered 
directly the market is favourable. the expected advance in price 
may not materialise. 
No publication of stocks of meat held in cold store in this 
country is made. The New Zealand Meat Producers’ Board, 
however, issues periodically a statement of shipments made 
and of stocks held in the Dominion. There are many advocates 
of a similar course in this country. The question was referred to 
by the Linlithcow Committee,* which expressed the view that 
* See also * Report of Royal Commission on Food Prices,” para- 
oraphs 261-263, also “Report of Imperial Economic Committee.” 
Cmd. 2499. 1925, para. 20. 
rt “¢ Renort on Meat. Poultry and Eggs.”? Cmd. 1927. 1923.