THE MEAT MARKET.

Taranaki Daily News, Volume LII, Issue 175, 28 August 1909, Page 6

THE MEAT MARKET.

AWTAT, MEETrNT! OF WELLTNY!. TON" MEAT EXPORT COMPANY. TIIE riIAIRMAX'S REVIEW. Wellington. WednesdaThe annual meeting of the Wellington Meat Export Company was held to-dav. The report, recommending a half-yearly dividend of 2 per cent. i n addition to (lie interim dividend of 4 per cent, already paid, was adopted. la his address the chairman (M - PElgiir) said: "Your directors regret that ho results of the rear's operations a."? ' "t siHi ris to warrant the usual 4 per cut. dividend for the half-vear being paid. The primary cause of the unsuc" cssful year's work has been the utterly demoralised state of the London meat market, which has been going from ba.l to worse since the beginning of the year. Although it has been stated that the restricted purchasing power of the people at Home has been the cause of the glut, 'he figures do not altogether bear this out. as it has 'been shown that the co.i-

i sumption has been greater than ever. 1 although not so great a< Hie serious , .Iron hj, nrices would hav- justified us mi expecting. The real reason would i appear to be the enormous quantity of, 1 meat that has found ite way to * the 1 market this year from all 'quartets, r '1 his amounts to an excess of 2% million 1 carcases for the year ending 30th June 1 or two million carcases in excess . for the first six months of this year. . Tile good season in New Zealand meant , an increased output from the Dominion. , Tl ! p Argentine and Australia also coa- . Iributed, while from Holland no less a i .m-intity tli-,in something like a million . -!ii-l a-qiiarter sheep were shipped to i Ijondon in a fresh condition. This nnm- , her hems very largely in excess of what I 19 usually sent over, the result was that nefnre last season's stocks were cleared e(T London stores were being rapidlv ilh'd with the Mew, till they Were soon -tun to overflowing, .and have remained 'o. many ships lieing unable to discharge llieir cargoes. The fact of such a large numbc!" of sheep being sent from Hoitorn! to London is a fitriking eoinmeiit--rv on the difficulty that might be ex-M-viw-ed ill fielding a market on the ' intMi'MU for mil- meat, i„ addition to ?" nrcMid.".. which naturally exists "•ri'iHt it i'i conn-trips where' a large •'-o'-n'tion of Hie noi )u iition obtain their llv ' n - V" farming small areas, and who would lie up in arms were their Governments to cve n hint at the free admission of frozen meat. The quantity of live -tock purchased by the company and 'hipped to London with such bad re--ults has been to a certain extent reduced by a number of farmers shipping -■1 their own account and at their owr, risk, and the sympathies of shareholders are due to those who bore their own burdens in this way and lovallv supimrled the company. With the London nnvkct 1,1 its present, glutted condition i.ui! no hope of a clearance before the new season starts-and there are not wanting indications that Australia will soon be starting to ship lamhe in increased quantities—anfl" Xew Zealand rim,,? made preparation, aided by a favorable winter, for a big output it seems almost certain, much as it is to he regretted, that the prices which will be Possible to Offer farmers at the openin* or the season will be far below those <\ Inch thev have neen accustomed to ex- i pert for a 2ood manv seasons past. The 1 .-jie bright feature in the year's operaj lions has been the improved value ob- | tamed for wool, and while other byproducts, such -is tallow, pelts, etc., have not met »n ulvancing market, the 1 nrices have been well maintained. The ! irectors ran onlv iiop P to retrieve the 1 ,'a.it year's bad business bv finding the ' best possible markets ,f„ r th( , company's 1 products for the future, and bv running ..he works on the most economical lines". J winch will be rendered nossible bv the up-to-date nature of the plant and 5 equipment.' though it *, to be regretted (hat; there does ant appear to be much * •cliance of reduction in charges and ex- " censes foT such items as marine insur- d ance. etc.. over which the company has J no "mitrol." * 1 .The chairman said for ten venre th? jT.vprage dividend had teen over 8 per a cent. a