FORMATION OF A FROZEN MEAT EXPORT COMPANY.

Lyttelton Times, Volume LVI, Issue 6496, 22 December 1881, Page 6

FORMATION OF A FROZEN MEAT EXPORT COMPANY.

The adjourned meeting of perron* ir.U>reeted in the formation of a Froxen Meat and Dairy Produce Export Company wae bold yesterday at the office* of the Agricultural and Pa*toral Association. There wae a fair attendance, and Mr John Origg occupied the ohtir. A letter of apology for non-attendance, on account of ill health, «u received from Mr E. 'Wilkin, who stated that he would have much plweure in allowing hi* nemo to be placed on the )i*t of Provisional Direotor*, and alro in assisting tbe enterprleo by every means in hi* power. Letter* were read from Messrs H. J. Mathias, W, Boag, and O. Qould, declining to act a* Provisional Director*, on account of other engagement*, hut wishing success to the Company, and expressing their willingness to become shareholder*.

Telegram* were received from the Hons John Hall and W. Bolleston, who bad been asked to become Provisional Directors, stating that they did not consider it espediout that Minister* of the Orown should be connected as director* with a Company, but wi»hiog tbe undertaking every snooes*. " The report of the Committee appointed fo collect information on the subject of Meit Freesing, which ha* already been published, was adopted by the meeting. Tbe decretory, Mr F, Weymouth, read the prospect os of the proposed Company a* follow* 1 —

" Prospectus of the Canterbury Frown Meat and Dairy Produce Krport Company, to be Incorporated under tho ‘ Joint HP ck Companies Ltsbiiitie* Acts.' Capita), £Bo,oCo, in 8000 shun a of £lO each, to he paid up as follows:—10s on application i 10s on allot* meat j and tho balance by call* not exceeding BC* per share, at interval* of not low than three month*. It is proposed to call up not more than half the capital in the first in* stance, the balance to .® reserved for the ex* tension of operations when required. “ The Company is projected with the object , of providing the mean* of preparing and ren* ' dering fit ‘tor export the surplus stock and dairy produce of this district by tbe refrigerating or other process. The present inten*

) Manor the promoters Is to restrict the Corn* puny * operations t« the preparation of meat nntl dairy produce for shipmsot on owner's account, and to tmtin for iti« sale thereof in the London markst. It {• intended that the Company shall have power either to purchase orehip on owner's m count, m me/ be found desirable j end aim, that they shell control the sale as well m the f serin* Mid export of the produce, until the eohsme ie fully in operation, it bwt»< evident that a concentration of interests i» necessary in placing shipments oh the market*. The preparation and storage of cheese and butler for export will become one of the mo»t important operation* of the Company, end a* the market in KttgUni for these product* ia practically unlimited, at price* showing 60 per cent advance on cheese and 100 per cent on butter over tho»o current in thi* Colony, an extensive export may he confidently anticipated. The promoter#, recognition thi* allimportant feature in the project, propose to provide o.rol storage for butter, cheese, Ac,, whore such may ho collected from farmers, ns produced and accumulated, until a vessel is ready to receive it. After careful enquiry, it I* estimated that the amount of capital to bo called up (£10,000) will bo sufficient to acquire suitable premises, erect the necessary buddings, provide all requisite machinery, and meet the preliminary expenses. The Jfngllsh Insurance Companies offer to cover shipment* against all risks, including deterioration on board ship from any cause, for 6 per cent premium. The promoters are assured that the London and St Katherine Docks Company have already arranged to fit up vaults with proper appliances for cool storage specially to meet the requirement* of the troxen meat and provision trade. Tito promoter* have sufficient evidence before them to prove that the proposed business could be carried on at once with a reasonable certainty of substantial profits, on any purchase* of stock at current rate*. They will therefore confidently roly on those who are directly or indirectly interested in developing the grasiog industry of the country, to assist them in carrying out that which, if properly managed, cannot fail to prove a very profitable undertaking. The promoters would draw particular attention to the report of a Committee appended." Tho Chairman said that since drawing np the prospectus the Committee had learned that all the Colonial insurance companies in London had combined and agreed to guarantee tho insurance of tho fresco meat exported at 6 percent. This was an absolute guarantee against loss by deterioration or otherwise. Mr John Cooko hod much pleasure is moving the adoption of the prospectus, and also that it bo printed and published, with the additional information mentioned by Mr Qrigg—that tho insurance companies were willing to take tho risks of the cargos#. In answer to Mr Wostenro, the Chairman said that tho insurance companies referred to were those Colonial institutions having representatives ia London. One large English Company had made the same offer previously, but the Colonial companies had evidently determined not to allow the business to pats away from the Colonies. Mr M. Dixon suggested tho adjournment of the meeting till after lunch time, when there would perhaps be a larger attendance. Tho Chairman pointed out that the Mayor's banquet would tase place in the afternoon. The motion for the adoption of tho prospectus was seconded by tho Eon K. Richardson, and carried '«*» com. Mr Ohrystali asked what information bod been received as to tho fitting up of vessels with refrigerating machinery. The Chairman replied that no further information than that given in tbo report had been obtained, but he would point out that two principal shipowners had of their own eceord, and without any representations from the Oo'ony, fitted up two vessels, thus showing their confidence in the undertaking. It would bo no very large demand on the shipping companies to meet the requirements of the promoters, os each ship would carry a large number of carcases. Mr J. atudholmo was in favour of trying the experiment. The shipping companies were no doubt waiting to see what action the Refrigerating Company took. The Chairman raid that the present Company hod an advantage in starting of tho two companies in full operation the Orange Company, and one in Victoria. Why should they suppose that the present shipments would not be as successful as there of other companies ? There was little doubt but that the shipping companies would co-operate if their experiments were successful. The owners would not be likely to try and freeze their cargoes on board tho vessels, when they could be frozen on shore. Mr Cooke, while admitting the force of what had fallen from the Chairman, thought that it would be as well to secure the cooperation of the shipping companies. It would not do for them to work against tho moat company, though there was not much likelihood of that. Tho lion 15. Richardson thought that there was no doubt but that tho shipping companies would be willing to take the frozen meat, it being more to their advantage to do so than to freeze on shipboard. Mr Cooko pointed out that there would be a very great risk in trying to freeze the meat on shipboard, and there was no doubt but that the shipping companies would see the advantage of having the moot frozen at the export company's works. There was not the least fear of competition. Mr Dixon was of opinion that meat killed near the pasture would be likely to turn out better than that driven for a long distance before being killed. The question was. was there any probability of being able to secure a piece of pasture ground somewhere in tho Heatboote Valley, or elsewhere. It would bo well if batchers accustomed to killing for preserving could bo obtained. The Chairman thought that to meet Mr Dixon's views would require a portable freezing apparatus. He read tho clauses of the report relative to the poddooklog of sheep. After some further desultory discussion, tbo Chairman said it would be impracticable to take killed meat ia the summer months In drays or by other means of conveyance to be frozen. Mr Cooko pointed ont that in Australia the meat underwent certain processes, such as cooling, before being frozen. Mr Ohrystali asked if the offer of the Insurance Companies referred to butter and cheese as well os to meat. The Chairman said that no specific information on that point was to hand, but as the risk on batter and cheese was mooli ires than on meat, there was little doubt but that tho Insurance Companies would take the risk at a much lews coat. If meat risk* were to bo taken at 5 per cent, butter or ebeeso should be accepted nt 2} per cent. Mr Coster thought there was something in what Mr Dixon bad said about the killing of meat on it* own pastures, instead of running the risk of damaging it by driving the animals, Tho Chairman said that there was one objection to this private killing, and that was the necessity for thorough supervision in order to sustain the character of the meat, so that only the very best meat should be shipped, lie would have a graded standard of quality for all meat, butter, and cheese exported by tho Company. This grading or adoption of a standard was one advantage which the American farmer had over the Colonial with regard to bis wheat, It should bs the object of the Company to send only what was above suspicion. Mr Coster thought that tho slaughtering could bo done by men appointed by tho Company. Mr J, Cooke pointed out that another objection was the fact that if tho animals were killed at their own pastures, there would be no control over the supply. One day MO sheep might be sent in to the works, and the next day 10,000, which of course would not do, Mr Harley, while admitting the desirability of having tho meat sent in in good condition and not impaired by driving, thought that at present it was hardly practicable, though with the improvement* that were being continual 1 / introduced, there was no saying what might be done in future. Bo thought tho Company would do well not to confine themselves to sending only ono quality of produce. A lows* quality might aUo be rent,

of course distinguished from the best byeoaw brand. Tho Chairman explained that what he had meant wee that the Company ihould not export any produce below a certain standard of nuaUtjr, and that what was sent should be graded ; the quality of eaeh export stated. Mr Harley expressed himself satisfied. Mr Dixon said that it seemed to him that the question he had raised was one to be settled by ex perience. (Hear, hear.) He wee satisfied for the present that the question bad been mooted. The Chairman agreed with Mr Dixon, Mr Harley thought it would be a» well to fill up the list of the Provisional Directors ae far as possible. He would move that the gentlemen who had acted ae a Committee to collect information should be Provisional Directors, vis., Messrs John Origg, John Btudholme, Csorge Hart, John Macfarleira, John Tiniine, Hon K. Richardson, John Cooke, R. Westeora, P. Cunningham, J, T. Ford, F. O. Tabart, W. OhryslsD, J. T. Matson and B. Wilkin, with power to add to their number. Mr Dudley seconded tho motion, which was carried. Tho meeting terminated with a vote of thanks to the Chairman.