MEAT COMPANIES.

Wairarapa Age, Volume XXV, Issue 10713, 24 April 1913, Page 4

MEAT COMPANIES.

The London correspondent of the Mercantile Gazette summarises the reports of several great meat companies, and shows that some of them have had a very good year. The River Plate Fresh Meat Company, which handles about 30 per cent of the Argentine chilled meat, more than doubled its profit, and was able to pay a 10 per cent instead of a 5 per cent dividend, and also added substantially to its reserve fund. The Nelson/ Company has had the best year of its history, with one exception. This company trades in New Zealand meat. It is paying an 8 per cent dividend | instead of 7 per cent in the previous year, transfers £IO,OOO to reser <e fund, and carries forward ' £IO,OOO, whereas only £5-500 was brought into the accounts. On the other hand, Eastmann's, another big company, has had a bad year. It seems anomalous to say that the same cause has contributed to these different result's in the fortunes of the companies; but the Gazette's correspondent explains* that whereas high prices in London mean gain to the first two companies which import wholesale on their own account, they mean loss to companies such as Eastin&nn'is, who are onlv purveyors, buying their supplies in competition where they can, and sell lug to the public through their own shops scattered all over the Kingdom. At any rate, the contrast is marked, for Eastmann's shareholders, who last year received 8 per cent, this year get nothing, nor is there any provision for reserve fund, nor for depreciation.