THE GEAR MEAT COMPANY

Dominion, Volume 12, Issue 70, 17 December 1918, Page 8

THE GEAR MEAT COMPANY

MEETING; 'OF SHAREHOLDERS.

he annual meeting of shareholders of : Gear Meat Preserving and Freezing:iipany, Ltd., was held, at the comiy's office, Lambton Quay, the- muling director (Mr. W. 11. Millward) preUJff. ho company's balance-sheet, for the t--year, ■ and the report'of the direcs ..(already published) were submitted. .' moving the adoption of the report | I balance-sheet Millward said, Ji' four and a quarter years of the atost war that the world has ever i|rienced I have very much pleasure meeting you during a cessation of tilities. 1 hope that the discussions .the Peace Coufefence, tf be. held rtly, will establish such relations as 1 in future leave our Empire and jies free to pursue a course of ecojiic. development under the most, titrable conditions. |he operations during the past year je, owing to the shortage 'of shipping, 111 considerably' less than normal, [.slaughtering will for the'same reside further reduced, at any rate dttrIthe early part of the. coming season, fi signing of the armistice has natury- eased the tonnage situation and lef is ill view, but so far as (his pora of the iKoi'th Island is concerned, ;Jieavy press of stock will probably be sed before . loading is l.ereas last December, our frozen meat res were practically empty they are lay three-quarters' filled.". As", on •'ount' of the smaller.' quantity of anils to be'de«lt with, the whole of the ling room attached to our slauglitsrise will not -be required during the a-large part 0i- it-is ,'ng Temporarily 'converted into rejerated storage. -This necessarily in-j yes] expense, hut it is done for the r'pose of retaining our connection and '.assisting our old clients, who. may upon getting the maximum benefits company can secure - for them.. In j meantime every one of our farmer pnds with large or small numbers of ck is being -proportionately limited, :1, if shipping comes to'"'hand earlier In can at present be foreseen, the adItage will be immediately and rela- ; ely available. . Every efi'ort is being :de, by canning- and 'using the comly's. plaDt- and resources to'■ the* fnll- . extent,; to do the best possible for' r valued conriection. It is in the inests ,of. the company to do. this as diaish'ed' output, obviously increases rcively'the overhead charges and' work- ; expenses.' . .'he period under ,-.reyifew is without f noteworthy feature.';-Heat and wool re taken" liy-the Government und«r the perial purchase scheme, and the slor- ! charges allowed have been 'very usein producing the satisfactory, results >wn ■in the balance-sl;eet. AVitli the se of-:' hostilities fresh- proWeim; will ve to' be faced, and a period of diffi.ty..and, anxiety will have to be enmtered Irefore complete adjustment of .licet conditions - shall have been i'ught- about. In this connection it is bed that our Government may still be :e to arrange with the Imperial au-' jrities for the continuance of tlie nftat rchase coterminuously with the wool, e present agreement expires three ihths- after tne >■ termination of the r. Supplies will be wanted during ocjition:; and : demobilisation, arid it •ins only fair that the Dominions,] icli, owing to ..the exigencies of hosIties, have Jieen. mmble .to get their .•pltfs.products shipped, should-receive s slight measure of relief, 'particular|as our keenest competitors in Argena have not only Jtad. higher prices, t owing to the -increased shipping sent >re through close proximity to Great itain, have been able to considerably irease their: normal output. It will turally take 'some time to clear the •basses iir stores, which' for ordinary irkot purposes have been rendered ire unsaleable by' telescoping for space ;ing/ During the poriod occupied by i carrying and" 1 realising of' these •cks, storage charges, interest on adaces, etc., on meat jutside Goyeni•nt contract will accumulate, and genilly speaking values can -be pierely )culative, and finance to many will be, ficult. The demand for war pnrpose.s has Might into the field ficsh sources of ?ply> which will freely compete with in, future. I refer, particularly to ,azil', with 30' million, head'of cattle;, nth Africa, 8i millions; Jladagascai\ millions; Rhodesia, Nigeria, etc., with ■ge and increasing herds.. The figures oted are exclusive of sheep, and the tntries named are nearer to their' nltiite markets than is New Zealand. ,'erhaps it may here be fitting to call ;ention to the greatly augmented ;ength of the AinericanVlfeat Trust, licli, according to the U.S.A. Federal mmission's report, is international in ; activities and controls more than half b meat output of the world. Further, organisation also embraces many jer descriptions of primary products d 'the manufactures resulting tliereim. Beyond absolutely necessary maintence and the alterations already rc;red to, there has been little done in 3 matter of improvements. Expericed labour has been scarco, and good iterials have been too expensive and ficult to obtain to warrant such work, it there will need to be fair e.tpendire under this head in the near future, he debit in the profit and loss account r taxes is a large one, and much releif this respect cannot he expected for ine years. The company has continued generous ntributions to patriotic funds and has so assisted willingly in toping yith b influenza epidemic. Its activities in e latter direction were mainly at Peae, where motor-cars and drivers were aced at the disposal of tho local (loci's to enable them to get to sufferers omptly. Daily supplies of mutton broth, :., we'rn provided free of cost to Ihe. strict Hospital and ldl those in need such comforts. As a further indication of the equity's desire to assist thd pa'blic during lies of' Stress. I may refer to the fact at the cash prices for meat sold in' its ops have not bee;i raised during the ar, consequently those who have been ile',to'call for their-requirements have irchased below "Imperial? Government Intra.ct basis,. ,In order to avoid thv mblan'co of ulterior motives a : voliuirj'. undertaking' was given not to accept iw hooking customers. This left other itellers free to conduct their 'businesses i, the usual lines.

Before closing, I wish to express our sympathy with those who have lost relatives or friends during tile year, and to thank nil our employees in all branches, departments, and offices for their loyal alid unstinted servico during n, period if difficulty and anxiety. i The report and balance-sheet Were Adopted, and the dividend and bonus m recommended by the directors were passed ,for payment. " • Messrs. \Y. H- J. Mooi-house and Allan Strang were '(selected directors, and Messrs. G. H. Hunt and E. K. D.vmoek were re-bleeted auditors. A special vote of thanks iva.s passed to the stall'.