The Southern Cross. PUBLISHED WEEKLY. Invercargill, Saturday, June 10.

Southern Cross, Volume 1, Issue 11, 10 June 1893, Page 8

The Southern Cross. PUBLISHED WEEKLY. Invercargill, Saturday, June 10.

The non-success of business companies started in this district was at one time proverbial. Initiated with a great flourish of trumpets, they in too many cases went up, to vary the metaphor, like rockets, and descended like sticks. One of the most conspicuous local exceptions to a career of this kind is furnished in the history of the Southland Frozen Meat and Produce Export Company, which, while not exempt from the vicissitudes incidental to colonial enterprises, has been of great service to the settlers of the district, and played an important pari in bringing about the change for the better which is, as the Hon. G. F. Richardson said at Mataura the other night, gaining for Southland a good name in the outside world. RecogTiising the possibilities of the frozen meat trade, for which new markets are about to be found, the directors some time since wisely determined to increase their powers of usefulness, and the other Avoek there Avas a notable gathering at Mataura to take part in the formal opening of the neAV Avorks, Avhich in point of site and other natural adA'antages occupy a unique position — one that will enable the very best possible results to be achieved. The guests of the Company Avere delighted with Avhat they suav, and its future AA r as depicted in gloAving terms by the Orators of the occasion. The directors have done their part, and their action has already been endorsed by the shareholders. The outlay involved, hoA\ r ever, has been considerable, and Avill necessitate an increase of the capital of the Company. Proposals in faA’our of this course will be submitted to a meeting of shareholders to be held in the Theatre Royal to-day, Avhen it may be confidently anticipated that the settlex-s and business men intex’ested Avill readily respond to the call. It Avoukl be surprising to fixxd them acting otherAvise, for in -helping the Company they AA'ill be helping themselves. It has stood them ixx good stead in the past, but apax-t fx*om all feeling of sentiment, axxd looking at the matter solely from an £.s.d. point of A’ieAv, the shax-eholders Avill doubtless recognise the adA r antages that Avill accrue from stx-engthening the hands of the dix‘ectors in the way indicated. The px*esent is a siixgulaxdy opportune time for such a transaction as that under notice. The Govexmment laiwe x-educed the rate of intex-est on de> posits in the P.O. Savixxgs Banks, the money coming in being largely in excess of the axnount for Avhich investments can be obtained, axxd in these circumstances oxxr farming friends cannot do better than divert the inwarcl flow, and invest some of their spare cash in the nexv series of shares. They Avill get a better return for their xxxone}-, and the}' Avill besides have the satisfaction of knoAving that they are also in a sense public benefactors, inasmuch as they will be assux-ixxg the continued success of axx institution that desexwes Avell at the hands of the people of Southlaxxd.