PROPOSED FREEZING COMPANY.

Waikato Times, Volume XIX, Issue 1595, 23 September 1882, Page 2

PROPOSED FREEZING COMPANY.

The following is a copy of the draft prospectus of the proposed company, which is to be called the ''Auckland Feezing Company (Limited). " The capital is proposed to bo £50,000 in £1 shares :— The objects of the company are to assure remunerative prices to farmers for beef, mutton, pork, fresh butter, &c. In order to carry out the objects of the company it is proposed : Ist, To acquire property by lease with a purchasing clause on the line of railway in the Waikato for the purpose of slaughtering live stock, and for utilizing the offal in the most remunerative manner by manufacturing artificial mannure, boiling down tallow, and producing neatsfoot oil, &c. 2nd. To acquire property by lease or purchase in the City of Auckland for erecting a freezing chamber, and the necessary machinery required for freezing purposes, capable of holding from 1000 to 2000 bullocks. 3rd. To construct proper cooling trucks for the transmission of meat from Waikato to Auckland. 4th. To export meat and dairy produce in properly constructed vessels. sth. To store dairy produce and other perishable goods in the freezing chamber. It is well-known that during the past year the average price of beef has not been above eighteen shillings per hundred pounds. The promoters of the company desire to remedy this state of things, and to assure to the shareholders twenty-five shillings per hundred "pounds for their beef all the year round, by freezing the meat and disposing of it wholesale from the freezing chamber or the railway trucks, when the markets would allow a profit, or exporting it to other markets. Mutton and pork could be dealt with in a like manner. It is considered within the mark to quote the number of cattle required for the Auckland market at 250 per week, and the average weight per bullock being about 7001bs. It will readily be seen that the increased price per head assured to the farmers will be about 50s, which would be an advance of £2500 per month on the cattle sold in Auckland alone. It is estimated that the cost of shipping cattle to the Auckland market, yard fees, and commission for selling, is above ten shillings per head, which, with the extra price guaranteed by the company will raise the price of all fat stock to about three pounds sterling per head above the prices now ruling, and must consequently affect the prices of all horned stock. The expense of killing, freight, and freezing, ready i» ship, is estimated to be less than £1 per head ; and the profit derivable from the hide and offal would yield about £2 sterling per head. The promoters of the company propose to become purchasers, from shareholders only, of good fresh butter at one shilling per pound and upwards, with the intention of either exporting or supplying the' home market. The exporting of meat would cause greater production and stimulate fanning operations, and put a fixed value "on our lands., It, must be admitted ; that the successful,' floating* of the-compiny and tKe proper carrying oufc of its objects will bring prosperity to pur province^ jsnch can scarcely be estimated. The estimated permanentexpenditureis£4ooo,andtheannnal expenditure, including interest, £2000. The following gentlemen have consented to act sis provisional directors :— Messrs •R. 3eccorabe, |^<wd,fello^,-r,Saml, Steele, H. Roche, SamCGraham, Frazer, Capi Lindsay, W: jßutHerfgr^' T: C. 1 Gerhiann, -Brettargh; tfoseph Gane/Hugh XJoodfellow,- J. T. -^dwards, s Jobxh Goodfellow, i, The foUo^pi gentlemen are to be aske'd, id join £&ldirec|p)?ate l— Messrs p.^^lrtbT^ Mayne, John FisheriF., Bucks, ,hoh.. Jas. Williamson) fMteyi^iaß^rgbhn^fWallice^and R. £Bentjv(Waiufcu), 'B. ,T6niss&M..:uTnnea