THE OTAGO MEAT PRESERVING COMPANY.

Evening Star, Issue 3031, 6 November 1872, Page 4

THE OTAGO MEAT PRESERVING COMPANY.

The report submitted at the annual meeting of this company on the 25th ult., speaks of a very considerable loss having been sustained on the operations of the first season. The principal causes that conduced to that loss were First, the fall in the value of preserved beef in the English market, where it for a long time commanded prices at least Id per lb. higher than those ruling for mutton. Before the manufactures of the company reached home this difference, which had. been calculated upon when purchases of cattle were made last year, had ceased to exist. The loss on this part of the company’s operations was increased by the very inferior yield of tallow obtained, a point in regard to which the cattle of this Province are very inferior to those which the Australian Preserving Companies are able to secure. The second cause of loss has been the comparative unsaleability of preserved meats in Gib. tins, in which form a large proportion of the company’s earlier manufactures was shipped. Whilst the smaller tins have been saleable at 7d per lb., it has been difficult to move Gib. tins at sd. The third cause has been the groat excess of expenses in London beyond what the directors Lad been led to expect, by which their calculations as to probable net results have been defeated, Something must of course be allowed also for the extra expenses incidental to a first start, and the high prices which had to be paid for tin plates, etc., purchased in the Colonies before the company's own importations came to hand. Luring the past season the company’s operations have been very limited. For some time, at the outset, it appeared doubtful whether any supply of stock, at prices which the company con'd venture to give, would bo ( htain.ahle. The improved condition of the English market, reported early in the present year, induced the directors to extend the limits as to price originally ffxed, and the factory was kept in full work for about three months. Luring that period 19,722 sheep

and 324 head of cattle were converted. The present position and prospects of the European markets for preserved meats render it somewhat doubtful whether their manufacture by the process hitherto used by the company can be profitably continued. The attention of the manager has therefore been directed to the subject of improvements on that process, which, without materially enhancing the first cost of the product, will secure a higher price for it iu London. The results of Mr Louglman’s experiments appeared to be sufficiently satisfactory to warrant an arrangement with him tor securing patent rights, for New Zealand and the adjacent Colonics, for his improvements. A sample shipment of meats preserved by the new process has been made, and should the report be as favorable as the directors venture to expect that it will be, there can be no doubt that tho result of the invention will be highly profitable to the company.