CANTERBURY FROZEN MEAT EXPORT COMPANY.

Dominion, Volume 4, Issue 1005, 21 December 1910, Page 6

CANTERBURY FROZEN MEAT EXPORT COMPANY.

/HANDLING OF CARCASSES IN LONDON. REPLY TO RECENT CRITICISM, (By Telecraph.—Press Association.)

• Christchurch, December 20. The annual meeting of the Canterbury Frozen Meat and Dairy Produce Export Company was held this afternoon. The chairman of directors (Sir Geo. Clifford) occupied the chair, and there were a small number of shareholders present. The annual report was presented as follows: — . , ' The directors have pleasure m presenting to the shareholders the balance-sheet and profit and loss statement for tho year ended November 30 jjist. .he net profit for' the year is ,£15,863 Cs. id., and with the amount brought forward from last year makes the amount.at credit of profit and loss account JJ4G.<a 13s. lOd. Out of this .£6886 4s. tit. lias been added to the. general reserve fund, making it now stand at ,£40,000. ,An addition of .£5723 2s. -Id. has also tern made to i the insurance -reserve fund, bringing the same up to. £SOOO. The amount of .£10,972 lias been reserved for renewals and replacements in progress and authorised, and the sum of ,£BOOO has been written off works. After apportioning these amounts, and deducting the dividend paid at the half-year, there remains the sum of .£9664 10s. Id., wliicli the directors propose should be dealt with as iolWTo the payment of a further dividend of 3 per cent, on preference irrt j per cent on ordinary shares, making ' a total dividend for tho year of 6 per cent, and 8 per cent, respectively, .£'6B6 is. 6a. ; to carry forward. .£1978 2s. 7d.total, ,£9664 .10s. Id. The quantities of stock dealt with .at the company s works were: At Belfast, 499,G72; at Fairfield, 366,413; at Pareora, 320,082; total, 1,186,167, being an increase of 275,899 head on tho previous year's figures. In moving the adoption of tho report and balance-sheet the chairman said: I do not propose to enlarge upon the general aspects of tho frozen meat trade. From the confined nature of our con : nection with it,, its'reform, or alteration in its Home management,, and its extension to fresh outlets, is rather a matter for our clients than for this company, though any sympathy or assistance we can give will' always be cordially afforded. I will only touch briefly upon the accusations freely uttered cently as to careless and-even , nltr handling . of, carcasses in i London. I do not for one'-moment credit the accuracy of these report?. . In the: first place, their complete truth is ~ highly improbable, because there/are 'a' largo number of. importers; business, men- vi ho have immense' consignments, . who may be trusted:' fr6m their own ; .j)oint of view, to guartf- against the deterioration of their property 'byareckless mismanagement so easilyvTectijied'.. ; .Secondly,, the reports "of oiir ; own and commissioners disprove the allegations, and all - the.information we have been able to obtain -shows that ' abundant care is takQ\\X'eonsistently with the unavoidable in dealing -" with I the enormous 'ill ai]ih\;tpd time, j We arc always indebted to anyone wno reasonably and temperately strives to improve the conditions of the trade, but the loud of tho sensation-monger effect nothing, and his exaggerations are injurious all round/ 1 The chairman added that a, letter- had , been received from their London ' r that morning. . It stated that 33r. Chappie s report had been discredited, not only in London, but also in the colonies. The charges had been sent out to store owners and different meat companies, and when the replies were received they would be sent'out as an official and authorised answer to the various charges. The chairman read extracts from various other letters traversing the' charges made by Mr. Lysnar and Dr. Chappie. He (the chairman) considered that the letters showed that the charges were unjustifiable. It was impossible-,to believe that the large companies in would allow their property to be'spoiled, in the way which had been described. Tho report' and balance-sheet were adopted. ; __ _ Sir George ' Clifford and Mr. James Gough were re-elected directors.