PATEA MEAT WORKS.

Taranaki Daily News, Volume LVI, Issue 197, 18 February 1914, Page 6

PATEA MEAT WORKS.

POSITION' (I:K.\TKI) BY THE Flit 10. A full mooting of directors of tin: Pato.ii Farmers' Co-operative Heat Freezing Company was held at lV.ea ou Saturday, Mr! W. I'owdroll presiding (says the Ha worn Star). It was unanimously decided to call public meeting's in Pateu, Waver',ey and Hawera to consider the company's position as a result of the recent fire. The (lirtc(ov.s considered the new works would eost at least .UtiOOO in brick or concrete, and a new plant not less than £2OOO. All the insurance receivable would be £2500 on the building and ,€1440 on the plant, after deducting the value of the plant saved. In addition to this there has to be provided a sum of £1,500 expended out of the company's working account in alterations to the. works completed on December 4 last. The directors unanimously agreed l,i | place the position before the farmers on this coast, urging them to take ify l'ie necessary shares to enable the works to be re-started as soon as possible. In the event of insufficient support boiu;; forthcoming, the directors unanimously decided to recommend that the company go into liquidation. The directors considered that it would be. a great calamity to South Taransiki if tlie works were allowed to be closed up. The, haubor loan having been carried, there is fair reason to believe thai there will be an improvement to the port by tile time the new works are erected; sufficient, at a-ll events, to ensure steady shipping; and when once tliis is established, and boats can come in and depart regularly, there will b,. a very big saving to the company ; n freights alone. Notwithstanding tlie extra cost of railage last year, amounting to approximately £ ioo a month, the company made a profit of £I7OO. jand under proper conditions, sucJi as >v igular shipping and up-to-date works, htliis should be easily doubled. Reference was made to the gonev.il drop in the value of stock since the Ibo, and also to the fact that practically no stock could be got away from the dis trict, as all the neighboring freezing works were full. They'were able to get all they required alongside tliair works, and consequently were not inclined 'o pay railage.

The first meetings will be held ;il Waverloy on Friday and Pa tea on Saturday.