TARANAKI PRODUCERS' FREEZING WORKS.

Taranaki Daily News, 1 September 1919, Page 6

TARANAKI PRODUCERS' FREEZING WORKS.

ANNUAL MEETING. The annual meeting of the Taranaki Producers' Freezing Works Company was hold at the iSoldiers' Club, New Plymouth, on Saturday morning, Mr. A Morton, chairman of directors, presiding. There were about 27 representatives present.

The report and balance-sheet, whieh have alreldy appeared in these colunm.i, wore taken as read.

J» moving the adoption of the report and balance-sheet Mr. Morton drew attention to the fact that there had been a huge decrease in the amount of butter handled, and, although there had been an increase in cheese, it did not make up for the butter deficiency. Practically all the companies had shown similar doorcases, and it was their experience that was reflected in the report of the Producers' Company. Li regard,to shipping matters the position had been Tery much more satisfactory than dfcring the previous year. It was evident the Imperial authorities had need for the earlier shipment of butter than cheese, for while the butter had not remained long in store it was January this year before the 1918 season's cheese was Bliipped. Ohecse had since been cleared, however, in good quantities, and there were now only 42,000 crates in store, while allotments of space had been made for three shipments of 12,000 crates each, which were expeetcd to be got away by about September 23. According to present indications the prospects for getting away produce were. very much better than they had been for the past three years. It was probable that the whole of the company's storage at Moturoa would not be required during the coming season and that it would not be necessary to take advantage of the additional storage at the Smart Road freezing works. The storage at Smart Road had proved of great advantage, and but for it and the storage provided by the Eltham and Kaponga Companies the producers would have been in difficulties. The two latter companies had held 25,000 crates which it would have been impossible to store at Moturoa and Smart Road. Jn regard to the accommodation at Smart Road, Mr. Morton said the Producers' Company had received £7OO in interest on the amount paid up on the shares taken up. He thought that with the assured prosperity of the Meat Company, and the fact .that their income from the shares they had in it was free of income tax, the investment might be regarded as fully justified and very, prolita/blc. The additional space at Moturoa had not been completed a bit too soon. The power had been sufficient to provide cooling for the new stores, and the company had not had to incur up to the present any expenditure for additional machinery. Satisfactory arrangements had been made with the borough for electric current to replace steam power, and the necessary machinery waß expected to be in running order in a few weeks. When the refrigerating machinery was overhauled the plant would be fully efficient and capable of meeting all present requirements. The chairman then dealt somewhat fully with the condition in which some of the produce arrived at the stores, there being evidence that rats and mice had got into the crates, either at the factory or during transit. Complaints in this respect had been made by the shipping companies, and the Imperial Supplies Department had rejected some crates that bore evidence of having been nibbled. Mr. Morton said this did not occur at the works unless the pests were introduced in some of the produce coining in. The shipping companies had advised the company that they would not ship cheese in that condition. He did not say that they had a right to reject stuff passed by the joint officials, but the necessity was upon the producing companies of seeing that their produce reached the storeH in thoroughly sound condition. Another matter which was likely to lead to trouble with the watcrsiders was that some crates came to hand with nails projecting. Although there had been no trouble, he hoped the producers would prevent trouble arising on this head. Another matter, which' chiefly affected the companies whose supplies came by motor, was the time of arrival on some occasions, and he urged that any failing in this respect should be remedied.

■Mr. Morton then dealt briefly with the balance-sheet, which, compared with the previous years, was very satisfactory. The- increase in the assets was due to the additional buildings and plant, and to the large additional capital paid to the Farmers' Meat Company, the shares in it amonuting to £25,000. He was glad that the dairy companies had been prompt in the payment of the shares allotted to them. The share list of the company showed that 7300 shares were now allotted, as compared with 38SS last year, and the paid-up capital had increased from £27,000 to £60,180. The liability to the bank at the end of the year was small in comparison with the operations of the company. The directors had altogether .wiped out the railway siding from among the assets. He then formally moved the adoption of the report and balance-sheet..

Mr. Belcher seconded the motion, which was carried without discussion.

ELECTION OF DIRECTORS. The two retiring directors were Messrs IT. D. Forsyth and W. A. O'Neil. Mr. Forsyth did not seek re-election, lie being at present in England making investigations into the dried milk industry and allied products of the dairy industry. Mr. O'Neil was re-elected, and Mr. Belcher, chairman of the Elth'am Dairy Company, was appointed to succeed Mr. Forsyth. Mr. 0. S. Eennell was re-appointed auditor.

GENERAL. In reply to a question as to the maltboid roofing on the additions to the Moturoa stores and the additional 2s 6d per 100 carcases in consequence thereof, Mr. Morton stated that it was never intended that nmlthoid should be the permanent roofing material, and he had no doubt that the directors would deal with that matter as early as practicable. The- chairman then expressed appreciation of the work of the staff during the year, special mention being made of the secretary (Mr. Elliott) and the general manager (Mr. Morrison), and on bis motion a very cordial vote of thanks was passed with acclamation. The usual honorarium was voted to the chairman. At a subsequent meeting of directors Mr. Morton was re-elected chairman.