FARM AND DAIRY.

Taranaki Daily News, 25 October 1919, Page 9

FARM AND DAIRY.

PATEA FREEZING WORKS. REPORT FOR THE YEAR. The tenth annual report of the directors of the Patea Farmers' Co-operative Company says:—The large quantity of stock treated shows a slight decrease in I cattle and a great increase in sheep and ! lambs. Particulars of killing are as ' under: Cattle, 191S, 12,698; 1919, 11,759. I Decrease, 939. Sheep and lambs, 191S, 56,463; 1919, 76,810. Increase, 20,347. The year's operations have been satisfactory, resulting in a net profit of £10,437 12s 7d. after providing the sum of £40.52 Is 6d for depreciation. This, together with the balance of appropriation acocunt, makes a total of £10,759 3s 5d for appropriation, which the directors .propose to allocate as follows: To pay a dividend of 10 per cent., £2946 8s; to pay 1 per cent bonus on shareholders' stock treated, £1600; balance to carry forward, £0332 15s sd. The 1 per cent bonus to shareholders' stock to be taken up in shares with the company, and only applies to those shareholders who can guarantee that all their stock wfts put through tho company's works. During tho season £45,254 12s 3d was spent on now buildings, plant and machinery, including the purchase of the s.s. Waitangi. The freezing buildings were increased three times during the last season, thereby increasing the storage by 100,000 cut carcases, which now gives the works a total storage capacity of 250,000 cut carcases. The s.s. Waitangi, which we purchased during the season, has proved a most suitable boat for our trade and the port, and has greatly assisted the works in placing on ocean steamers our large and increased output of frozen meat and byproducts. Contracts are already let to tfca tax further

buildings, plant and new freezing machinery, which are necessary for the •oming season, and when this arrives additional storage can be added from time to time should necessity arise Owing to the rapid growth of the works and increase of stall', a great shortage bf housing accommodation exists in Patea. In order to meet the situation the directors have purchased land for lluilding sites, and have decided to erect a number of concrete cottages which they intend to let to their permanent hands at cost price. The profit and loss account shows that the revenue from manufactures, etc., was £35,087.