CANTERBURY FROZEN MEAT COMPANY.

Gisborne Times, Volume XVII, Issue 1364, 27 January 1905, Page 2

CANTERBURY FROZEN MEAT COMPANY.

LOSS ON FREEZING OPERATIONS XEeri Press Association.) Christchurch, last night. At the annual meeting of the Canterbury Frozen Meat Company to day, a report was presented showing for tho first time in the history of the company a loss on the freezing operations for the year, which, with the interim dividend paid in June amounting to £3927 6s Id, left the total at debit of the profit and loss account of £6092 6s Bd. The result was attributed to unforeseen diminution of stock in Canterbury, the slaughtering operations at Belfast and Fairfield having diminished by one-third, the figures being for 1903, 950,741 head, for 1904, 608,464 head, a decrease of 342,337 ; or at the rate of 36 per cent. The decreases in slaughtering for freezing ware at Belfast, 132,925 sheep, 76,951 lambs : at Fairfield, 69,012 sheep ; for local consumption 29,250 sheep, cattle and pigs. The chairman, Sir George Clifford, made a lengthy speech, stating that the position was duo largely to the shortage of stock in Canterbury and consequent lessening of the number of sheop and lambs available for export. The continual freezing of ewe lambs was at tho root of tho falling off and the remedy lay with the farmers. He confidently hoped to see a different face on tho balance sheet next year.

A lengthy discussion followed, the action of the directors in declaring an interim dividend in June being criticised. In reply to Sir John Hall, the Chairman said the directors would bo glad of arrangements with the other Christchuroh company to raise the charges for freezing.