acres, maintained on the banks of the Thames to deal with live cattle imported from abroad, pay its way. But there has been a serious decline in imported stock in late years, especially from America. At this market extreme precautions are taken to prevent the entry of cattle disease that might spread infection to British flocks and herds. All animals landed there must be slaughtered within ten days and submitted to rigid inspection. All hides and offal are immediately disinfected. Five hundred cattle can be unloaded from vessels at Deptford in twenty minutes. Last year 104,351 animals were killed, the meat being sent for sale to Smithfield and Whitechapel.

Billingsgate, the famous fish market of London, is also administered by the Corporation. Its records cover over six hundred years. It is hampered by narrow street approaches, but a very expeditious system of direct delivery of fish from the Thames side of the market building enables the licensed auctioneers to dispose of supplies very quickly. Steam carriers collect the fish from the fleets around the coast and deliver them packed in ice at Billingsgate every night. Billingsgate market has cost the city $1,600,000. Stand prices are high, but there is keen competition whenever a vacancy occurs. Last year the receipts amounted to $182,455. The auctioneers dealt with 194,477 tons of fish, of which 120,905 were water-borne and 73,572 land-borne. The City profited to the extent of over $40,000 on this fish trade.

INSIDE SMITHFIELD MARKET
The City of London Corporation's $1,940,000 Terminal—one of the Aisles with Wholesale Stands on each side.

On the wholesale and retail meat, fruit, vegetable and fish market at Leadenhall there is also a profit of over $5,000.

On the entire municipal market enterprises of the city there is a profit of $156,000. The markets are regarded with especial interest by the Corporation and the Committee which regulates them is considered one of the most important in the whole administration of the city. In order to keep abreast of the times most of the profit is expended on improvements and extensions.

Covent Garden, London's great fruit, flower and vegetable market, is owned by the Duke of Bedford, whose family have held it for hundreds of years. In the past century they have spent $730,000 on extensions and improvements. Of the present modern buildings, the fruit hall cost $170,000 and the flower building $243,000. Formerly the producers were chiefly concerned in the market, holding their stands at a yearly rental. But with the expansion of London the growers have gradually given place to dealers and commission men, who pay twenty-five cents a day per square foot of space, and on the produce, at a regular scale, according to its nature. On flowers there is no toll, but each stand holder pays a fixed rental. Though this market has direct access neither to river nor railroad, it still retains its premier position among the wholesale markets of England. As the approaches are extremely narrow, most of the produce has to be carried on the heads of hundreds of porters from the wagons outside into the market buildings. As it is under private ownership, no figures are issued, but there is known to be a huge profit on the market. For outer London there are fruit and vegetable markets at Stratford, in the east, Kew in the west, the Borough in the south and two railroad markets in the north.

Birmingham, England's chief midland city, has owned its markets since 1824, administering them through a markets and fairs committee. Since 1908 the profits have been somewhat reduced, owing to outlay on improvements and extensions; but although the city has expended $2,156,362 on the markets, the profits have paid off more than half of that indebtedness, besides relieving taxation in other directions.

Not far away is the small city of KIDDERMINSTER, that may be mentioned as affording a demonstration of provincial municipal enterprise, under more restricted conditions. On its vegetable market it makes a profit of $1,000, and on its butter market a profit of $1,500. The population of the city is only 25,000. Another midland city, WOLVERHAMPTON, makes a profit of nearly $20,000.

BILLINGSGATE FISH MARKET, LONDON
The Thames Side of the Market, Showing the Steam Carriers Unloading their Cargoes Direct into the Sale Room.

Liverpool, the great northern port on the Mersey, has spent $1,242,534 on six municipal markets. The only market to lose money is the cattle market, which shows a deficit of $8,000. Liverpool has a cold storage capacity for 2,176,000 carcases. On the whole municipal market enterprise, in this city of 700,000 people, there is an average annual profit of $80,000.

Manchester serves not only its own area but surrounding industrial centers, with a total population of nearly 8,000,000. There are twelve markets and four slaughterhouses. Since 1868 the city has benefited by their administration to the extent of $3,250,000 profit.

Next to that of London, the fish market here is the largest in England. Its annual profit is well over $10,000, in addition to heavy extension payments in late years.

Dublin, the capital of what is often called 'the distressful isle,' makes a profit of $14,000 on the food market and $12,000 more on the cattle market, while EDINBURGH, Scotland's chief city, makes about $15,000 a year on municipal markets.

Statistics are available of something like 150 other British towns and cities, ranging from a population of 5,000 upwards, where there is the conviction born of experience that municipal markets pay not merely in profits, but in convenience to the community, and they have a powerful influence in keeping prices down.

Germany

Perhaps more than any other country in the world Germany places reliance on municipal markets, because of the peculiar pressure of the problem of the high cost of living in the cities of the Fatherland. On several occasions, during the last twelve months, the butchers' stalls have been raided by women in protest against the ten per cent increase in one year on the price of meat. And when, to meet the clamor, the government reduced the hitherto prohibitive import duties on meat by one-half and the inland railroad charges by one-third, it was on condition that the meat brought in should be for delivery to municipal markets or co-operative societies only. The result has been an immediate fall in retail prices ranging up to fifty per cent.