WELLINGTON MEAT EXPORT COMPANY

Dominion, Volume 7, Issue 2232, 19 August 1914, Page 8

WELLINGTON MEAT EXPORT COMPANY

ANNUAL MEETING.-, -, -_ PROPOSED NEW -WORKS AT I KAKAIUKL' .. Tho annual.'meeting oftlie • Weliingt tou Meat Export and.l'reezing Company.. ! . as held, yesterday, Mr.. W. G. Foster i (diairman of-the coihpany) presiding.';lu l moving: the 'adoption of the Teport 'iiid i balance-sheoD (a summary of wnicli -has i appeared), 'Mr."Foster- -said that;, the puces Kiwi opened ,much abovo.the"par-. ; lty ot markets, and owing to .loco! fcbm■pc tit ion had continued so throughout. ; tho season. Tho natural effect of heavi..- ■. ier shipments was a. declinom value on the Homo markets, 1 with resultant, bad' \ : business. The' seasfin had .not "beeri'so | . good as; usual. Jor fattening, especially j as regards'-laihb.s.: Whilst tho. weights I:' 'ihad.',been > 'gq6d, i -. the. (juaUty'';waß''below "■ previous .years. - Tho | coiitmuedTncfeiiseof freezing'capacities jj v and ad<Utimial' works! was; _accenwatihg. 'tho ■;pressure; : 'up.on 'pipping,; aiid. fwas- !:•. tending to glut''our'oversea ■: lhon j South American;;and,Aiistralian beef. Tho r of •'"certain.'-.;' North. £' . AnicrieanMeit' companies in'tlie Ar'ge'iijV ' tiuo .had 'led to, such"red-hot comiwti- >. lion that' prices paid for'-tho'animals on p; hoof had rcaclied .extreme figures, such,: 1 11. ■ 111 faict,.as coMd oiily. mean loss-.to ex- ; portors. Australian shippfers ;had.,also I inflated prices, and vhad-pohred' larger quantities oF beef 'tha'n-\<svcir:\'into ; the i; ';;; United KMgdomr ; VThe ;quality,aent was | .in great-proportion, quitei - mg.-It pitching |'; of..beef: of :. Que. |y ; thing tstoMUut.-promihently.:. as -<{<r thefuture, and'ltha.t.waj3. ; the necessity for. a. jgreater storage and i;V ; ; tiie consequent"" ability ito"spread shipliients hioro-yevenly throughout-the year: i: He did not thihk.'that'thV'wbrld liwd ha. : "alarmed 'iti.Vtho/.'c'oiniiug *y6ar-*asV to ■..■the supply • ...' . (Jieat agitation/had, Resisted tho past .fow-.nioiiths' for ..the. formation ... of, how companies.to orect^ivorks,in up- . country, districts;.- Feildihg,, . Martou, Hunterville ; -and; Taihap'e ■ %aviiig.;j)deh . particularlji'.eii-ihusiastio 1 and-eiiergetic. i The directors' of 'the companjf.held that tho more, prudent and economical scheme . Would; fa extend at . the varrous-.ports, but in tho case of the AVest Cba'stVof-ihisisland'aconsiderable section pfcthb producers'being;determin- -. cd tb constrti.et I ,works;- the board deemedthat it woilldibe more prudent if the -company -induced--to;- --erect iroriis, 7>etiveon<.,Feildiug, and ,Mangaoiioho. * ' Conferences siritE-, the producer's resulted iil; th'd board (subject; of course, - to the approvah and cbnsent of the share- • . hplders) following offer, . .Viz.,— Y' " v ... .' -■ "The : do so (i.e., erect works) provided at least . that iwas suliscribed by ;itaniors" .and in. that ' district, 3s' -issuedof- /: £100,000 <rf; capital I: ,.sucli. shares; to' be •' • -of 10s. per addition-to,^tlio' BubscriptioiL'.bf .'ca])ital,',.it-is.' to.be'imderstbod tliat tile-copip^aiiy;jyi 11 :liaye:Jho- - ..support of- tli'e producei's' in' the district.That this'.blier/.is conditibriali-upon'-thb company's "approval 7 of;' the,' selected - site • and locaiity''of .'wbfks,' and'- also: upyn(the , consent of the;present, shareholders-to' the proposed increasei'iri''tbb capital." ' Tho various.jsites. suggested were..inr ■-Epected by tlie;;dir^torSj^;md-,Kakariki was decided: upon as tliejonost- - suitable - .•••* and tatively accepted,; J!nd"iKlargß immlier^bf: i .shares wero by '! fnr'mcrs for the" l £50,000;; was proceedirigj when'war was'declared by Britain, and matters were. Tib doubf held up until I 'hotter" conditions : prS-' • vailed. The report was adopted. - . .-. . Tho retiring 'directors; Messrs. W: Hr Deetham and J. AV. Marshall, wero re< .< elected.- The directors'.-fees were'fixed; / at last year's figure, and tho Retiring auditors wero-re-elected. Tho goodnork. dono .by tlie staff during the year was; ~v suitably, acknowledged. "I