GEAR COMPANY.

Dominion, Volume 6, Issue 1623, 14 December 1912, Page 8

GEAR COMPANY.

THE ANNUAL MEETING. The annual meeting of the Goar Meat Preserving and Freezing Company of New Zealand, Limited, was held, in the company's office last night. The chairman of directors, Mr. IV. H. Millward, presided, and thero were somo twenty shareholders preBent. ' Tho Chairman's Address. Tho chairman moved the adoption of tho annual report and balance-sheet. "In the first place," ■ho said, "I have to conffratulato you on tho successful outturn of the year'e operations, which I am sure must be gratifying to you all. The period under review has, generally speaking, been one of rising markets, and therefore, not such an anxious one as is cuetomaryfin this business. The outlook for. the immodiato future of the Dominion's products is very good, but it must bo remembered that tho prices being paid here for sheep off tho shears are relatively advanced; in fact, are the highest on record for the North Island at this period of the soason. Inquiries for meat arc being made by Canada, and the United States, but as yet the quantities are small and the specifications more suited to Australian stock. In courso of timo, too, paTta of the Continent of Europe will also be buyers. No doubt tho trade outside of Great Britain will grow, and, even if our moat does not go to tho countries named, tho market will be relieved of bo much of other production and tho Dominion benefited thereby. Tho spread ■of dairying is considerably affecting the supply of prime cattle, and even the purchasers of tides lave felt the change. • "During tho year the plant and promisee have been maintained in their, usual 1 flret'class order, and many improvements tending to further efficiency and economy have been effected, notably in tho fellrcongery and engine departments. For a few months in tho busiest part of each, season the boHer? and generators are taxed to their utmost, and although in: the past the company has been particularly fortunate in having no Btoppago through breakdown of any kind, it is as well to be provided against such a contingency, and the chief engineer, having carefully investigated tho merits of various systems, has reported very favourably with respect to » British make of Diesel ongino. The directors have therefore ordered two sets of 240 b.h.p. each, with generators coupled. Theso mil take the peak of tho electTio load at the heaviest time of tho year, and will, in addition, be. very useful and eoonoraioat at other periods. "You have doubtless followed with interet the conferences which have been hold at Intervals with tho view of improving tho conditions of handling frozen meat. The oomnany is not connected with the North Island Freezing Association, which Is a combination of those not having a London office of their own, buK every possiblo help is given to it where the interests of tho meat trado in general are concerned. I need hardly add that our representative in England is constantly doing his utmost, in the fame f'irection, Tho Port of London Authority, which was formed in 1909 expressly for tho purpose of bringing that port up tr> date, is gradually improving sorting, and storage conditions. Tho position of our insurance fund inrtic.iles in a telling manner tho careful handling of our products at both ends. "In view of the consolidation of interests takin" place in nil directions, and in order to cover risk's incidental to a business of such a. fluctuating character _as this, and contingencies which may arise in oiincetion with the operations of trusts, war, stoppage of work through fire or other causes, the directors deem it adviEaolo to maintain the stability of Ot company, to create strong reserves, and with this obItot in rism substantia! additions ban beta inodo to tojseiflooosst*. V.,.#teM9 mw& * saa & &sm tea