New-York tribune., 1922-05-07

BUENOS AYRES. April IL
Prices ruling this last week in
Buenos Ayres for beef are Indicative
Of the hard times upon which one of
the staple industries Of the republic
has fallen. Reduced to United States
currency at to-day's rates Of eX-
change, this is the situation:
First-class chillcrs, s5.al per 100
pounds; young steers 400 pounds,
sl.37 to S. per 100 pounds; young
cows, very good class and condition,
1924 TO $3.50 per 100 pounds.
In the case of chillers the packing
house further reduced their prices ,
ccntavos per pound from the previous
week. There was better demand for
young steers and hoifcrs, but taken all
around beef prices have not been so
raisers are frantic with alarm over
the situation.
The sole explanation is that there is
no demand from Europe for anything
like substantial quantity Of Argen-
tine beef, but it is traordinarily diff
cult to get the cattle raiser TO see
this He persists in attributing the
paralysis Of the industry to the machi-
nations Of the packing plants and the
foreign speculator, and the consc-
ouence is that ALI sorts of schemes, in
volving frenzied finance on the part
of the state, arc being put forward.
Seek Government Aid
Not 3 day passes but scrc individual
arises with a plan to restore the in
dustry TO state of great prosperity,
and no less an authority than the
Argentine Rural Society considers that
il only the government will get busy
everybody viii be happy. In svery in
stance the scheme embraces plan for
doubling or trehling our exports Of
chilled beef but just how il is proposed
to make the SmithGeld market absorb
more meat than it now wants is not
definitely stated
One scheme is for q huge cooper
atlnc freezing company to establish
packing plants in score or more cat
tie zones. and tho government. it IS
suggested. shall take shares. It is
hoped from this scheme to save all the
heavy railroad freight charges on live
cattle. and by opening shops in the
principal cities 10 sell meat at a price
favorable both to the producer and tho
consumer. and so "strafc" the middle
men and rings. who do actually control
the domestic meat trade. II the state
takes hand this scheme may 90
through; otherwise IFS enormous cost
will frightcn out even tho wealthy men
who arc interested in it now. Tnc Ar
gentinlan does not like to stake hi7
own money in any industrial PROPOSE
ton. He likes the foreigner to do that
State Agricultural Bank
Another plan launched this week is
for the creation of a state agricultural
bank. with capita Of 800 100000
pesos. to advance money to cattle grow
ors and farmers; colonizc large tracts
Of land; buy ships and build freezing
plants. and hustle along the cXporta
tion Of meat. The governmcn is asked
to put up half the capital and raise it
by land tax What is to be done
with the appetite or consuming ca
pacity OF the masses in Europe is not
stated. so while it is agreed that this
its money. the fear is expressed that it
might have hard job TO get it back
when the foreign demand for beef and
nation refuses to respond. and cattle
prices stay where they are to-day.
That beef prices will remain at the
present low figures nobody believes,
but a state agricultural bank viii not
push them up.
Keen interest is being shown il, the
inquiry proceeding in England as to
the existence of trust. said to he
controlled by packers in the United
States, which is restricting the i'm
portation OF Argentine meat to the
Smthfcd market and is responsible
through its operations for the unsat
isfactory condition Of the beefgrow
ing industry in this country. Regard
less Of the results Of the inquiry it
will be hard TO convince the Argcn-
tine cattle raiser that expectation is
not being checked and prices reduced
through the Vaccinations Of some or
ganization in which British and Amer
lean operators are associated Spe-
cial inquiries made by LA Nacion,
the leading newspaper Of Buenos
Ayres, indicate that huge stocks of
chilled beef are held in England. still
under government control, and it is
the disposal OF this reserve which is
affecting prices unfavorably.
New Tariff Rules.
American exporters who are contnu-
ally receiving advice regarding the
packing Of goods for the Argentine
market will do we'll to note the latest
customs decision Wnlch provides that
after July | all goods that have to be
weighed with their packing will be
dutiabe to the further extent Of 10
per cent above the tariff This means
also that all wrapping paper. straw,
cartons, case, etc, be included in
the weight and be dutiable at 10 per
cent above the tariff.
Following recent advices there is a
renewal here of the rumors regarding
a new loan to be hoated in the United
States by Blair & Co., who have been
prominent in South American finance.
A cablegram was published yesterday
stating that a loan Of $4,000 900 was
being arranged at 3 per cent for Rio dc
Janeiro. as we'll as loans for Argentina.
Pefu and Bolivia. the amount for this
! republic being set at $4,000 900
Whether it is the suggestion in these
rnmors that Argentina as field for
lnvestment ls attracting lot Of inter
eat In thu IInited ctata. a.A -i.A1