THE WELLINGTON MEAT EX PORT COMPANY.

Wairarapa Daily Times, Volume VII, Issue 2072, 19 August 1885, Page 2

THE WELLINGTON MEAT EX PORT COMPANY.

Tee report of the Wellington Meat Export Company for the year, ending 30th June last is not altogether of an encouraging nature, tor not only has the credit balance of £1514 brought forward from . the previous year been absorbed, but a debt of 1556 is now found in its place. This serious change has not been brought about by any shortcomings on the part of the management, nor is it so serious as its looks, for in the first place, it is not due to any carelessness, and in the second, there is a prospect of a portion or the whole of a claim of £3600 being recovered. It appears that the two shipments of meat made by the Shaw, Savill and Albion Company's steamers Coptic and Florida went bad, and the company has made claims against the vessels for the amount named, ■ As these were only' recognized in part, action at law has been taken for the recovery of th 3 amount, Should this be successful, the directors would be iu a position'to declare a fail dividend. The directors state that the want of support from' producers has forced upon them the subject of amalgamation with the Wellington Meat Preserving and Refrigerating Company and a hope is exj ressed that before long a proposal with this object in view will be agreed upon. The two companies have all along had the one manager between them, and the observations which this gentleman has been able to make should, no doubt, prove of considerable value, When the last-named company was formed and took over the going concerns of Messrs J. and H. Barber and Messrs Woods Ckosbie k Co., the subject of amalgamation was freely spoken of, and it was believed that the appointment of Mr Wright, who was then manager of the Meat Export company, to a similar position in the now Company was a decided step in that direction. The amalgamation of the two companies would place them on a level with their powerful rival, the Gear Company, and the shareholders would thus have a prospect of receiving a fair return for the capital invested, It does not appear likely that the subject will be brought forward in a concrete form at the annual meeting, it being merely mentioned in the report to apprise the shareholders of what the directors think might occur in ths near future.