A SPLENDID YEAR.

Taranaki Daily News, 3 August 1918, Page 4

A SPLENDID YEAR.

Shareholders of the Taranaki Farmers' Meat Company, Limited, have reason to be gratified with the results of the second year's operations of the company. The output has more than doubled, and the margin of profit has been substantial, enabling the company, not only to write oil' last year's loss of £S4O and preliminary expenses of £526, but to provide £2OOO for depreciation, leaving a balance for appropriation of £3220, which is to be devoted to the payment of a dividend of 5 per cent, on the paid-up capital, and to carry forward £ll2O. Few of the shareholders expected the works to yield such a satisfactory profit quite so soon, convinced, as thev were, that ultimately the works would be a source of profit to shareholders, and a benefit to the district generally. The success is a justification of their faith, and should lead to greater extension of the works to cope with the increasing business offering. The works handled some 7"),000 sheep and lambs and 0000 head of cattle last year, but there is no reason why this total should not be doubled or trebled in the near futuro. Taranaki has an assured future, so far as grajing is concerned. Its back country has so far only been scratched. In the course of time, when tilings are normal and labor is available, and when road and railway facilities are provided, the present three Taranaki works will be quite unable to deal with the stock without considerable extensions. In the past large numbers of stock have been sent out of the province to be fattened and killed. There is no reason why this should happen, as the provincial works should be quite able to cope with all the stock grown in the district. Dairying, of course, has always been the preeminent industry in Taranaki, and for that reason the importarre of the frozen meat industry has been to some extent obscured or overlooked. Our farmers have not yet realised that the judicious stocking of sheep in conjunction with dairy cattle would in most cases not only provide an additional source of income, but freshen atul enrich the cattle pastures, thus improving, instead of reducing, the feed available for the dairy herd. This would necessarily involve the erection of sheep-proof fences—which few farms at present possess—but as the nett return from a ewe and progeny is about 30s annually, and as most of the best country would run one to an acre, it is an item of income that cannot be despised, and would justify the cost of improving the fences. Of 'course, this cannot be done at a time like the present, when famine prices for wire prevail, but when normal times return, farmers would do well to consider this suggestion. The shortage of shipping will, no doubt, occasion serious concern during the ensuing season, and the wisdom of the directors of the Taranaki company in setting about providing additional storage is now apparent. Still more storage, however, may be required, if the surplus stock in the country is to be treated, and the shipping is going to be as bad as Ministers have lately led us to believe it will. However, that is a matter which, no doubt, will be considered later. Just now we only wish to extend our hearty congratulations to the general manager (Mr. J. Milne), who is proving himself an invaluable man to the company; and the directors, who have put in sterling work on behalf of the shareholders, for the happy results attained-in the-last twelve months.