MEAT FREEZING WORKS.

Taranaki Daily News, Volume LVII, Issue 257, 9 April 1915, Page 8

MEAT FREEZING WORKS.

COMPETITION ON THE EAST COAST

WELLINGTON COMPANY EXTI .:::>.

By Telegraph.—Press Association.

Wellington, Last Night.

This afternoon a meeting of shareholders of the Wellington Moat Export Co., Ltd., was held to consider proposals for an increase of capital in connection with a project to erect freezing works at Kakariki, adjacent to the bridge over the Rangitikoi River, near Marton. The proposal entails increasing the capital of the company by £ 100,000 in 20.01)1) shares of £5 each. The chairman, W. G. Faster, in moving to increase the capital, said the company could have carried out the works without raising fresh capital, but the company desired to give settlers in the vicinity an opportunity of showing their support of the proposed'newworks by subscribing additional capital to the company, whose brand and produets bad achieved a high reputation in nil markets in which they were offered. The directors had on doubt of the safctv of llio venture.

Sir Walter Buchanan said there was no difference of opinion on the part of the directors as to the necessity of increasing the freezing area, or as to the possibilities of the productivity of the West Coast district, but last year Wanganui and Longburn companies increased their freezing capacity, and new works had been erected at'Taihape and Wilding, all of which meant the of three new freezing works on the West Coast. Scarcity of shipping and consequent inability of companies to get meat away gave an unreal impression that there was scarcity of freezing space. Therefore, when, as a director,' he was asked to face the proposal to expend an additional £70,000 he was led to doubt that there would be sufficient meat to keep such additional freezing power profitably employed. His experience in and out of New Zealand led him to the belief that such a company should have its works located in a centre and on a scale that would enable the company to carry out its work in the -most economical manner. If they had comparatively small freezing works scattered broadcast, producers' interests were bound to suffer.

Mr. E. Newman, M.P. for Rangitik".i, differed from Sir Walter Buchanan. The company had always been regarded as a farmers' company, had been managed by farmers, and it had so far been a commercial success. He agreed with a great deal that Sir Walter Buchanan had said. He would have been glad to see the new capital going in the direction of increasing the plant and storage at Wellington, but it was found that other works were being started and old works developed on the West Coast, one of the reasons being the deterioration caused by the trucking of live stock to the centre. If the p:\iposed works were not carried out the company would have to face competition from a new company which would tap the supplies on which the company had so long depended. The motion to increase the capital of the company was carried by 12 to 5.