MEAT-FREEZING INDUSTRY.

Taranaki Daily News, 18 August 1920, Page 8

MEAT-FREEZING INDUSTRY.

N&XT SEASON'S PROBLEM. BEWARE OP THE TRUSTS. By Teleuraph.—l'ress Association. Wellington, Last Night. At the annual meeting of the Wellington Meat Export Co. to-day, the chairman (Mr. Chas. KTgie) said it was a matter for universal congratulation that, after five years 1 of war regulations and restrictions, the freezing industry in New Zealand should emerge in the properous condition it in to-day. A very great measure of thanks was due to the Imperial Government, and the New Zealand Government for the substantial protection afforded the industry during the recent difficult pe; ; -d. The profit availtftle for allocution was £43,027, out of which the directors recommended £13,000 should be added to reserves, bringing reserves to £120,000, and that the dividend for 'the year, including two per cent, bonus, be 10 per cent. The chairman said (lie greatest problem the freezing companies were faced with was?, the question of dealing with next season's purchases of fat stock He understood that (lie, Government, in conjunction with th,e banlos, freezing companies, and producers' representatives were taking up the question of financing next season's business, but, while this was very necessary under the circumstances, it did not solve the problem of the ultimate realisation of the goods. He expressed regret that the present condition of the trade was being used as a lever to induce the Government to alter its policy. With reference to the large American packing interests, the chairman denied that America offered an unlimited market for all grades of meat. Tho demand for Now Zealand lambs in London, where his company had been advised it would be just as keen as ever, notwithstanding the large accumulations of stock, was "mostly for mutton and beef. No practical benefit, therefore, could be obtained by allowing large American companies to establish expensive stoek-lmyjijg organisations in New Zealand. Their very size alone would soon give them controlof the bulk of the fat stock' available, thus enabling them to dictate their own terms to the industry. On the other hand, there was no reason why any company. American or British, should not buy its requirements direct from the freezing companies or their agents.