WAIKATO SLAUGHTERING AND FREEZING COMPANY.

Waikato Times, Volume XIX, Issue 1597, 28 September 1882, Page 2

WAIKATO SLAUGHTERING AND FREEZING COMPANY.

A public meeting of settlers cind others concerned in the establishment of the above company was held at Delaneys Hotel, Ohaupo, on Tuesday last, for the purpose of giving an expression of opiuion on the prospectus of the company. There were nearly forty people' present, and the chair was occupied by Mr German n. The Chairman, in opening the proceedings, said they would doubtless remember when the company was first proposed the idea of carrying on business wholesale was entertained, and it was also thought to do business in the retail line. A deputation had been sent to Auckland to ascertain what support the company would get, and after careful enquiry the deputation reported that the retail business could not possibly be done. After the return of the deputation, when the report had been submitted to, and considered by the provisional directors, it was decided to start a freezing company, slaughtering the beef inWaikato and then sending it to Auckland iv cooling trucks to be frozen; then to export or sell the meat in Auckland,, as opportunities of a good market offered. The chairman then concluded his remarks- by readings the prospectus which had been drawn up by the committee, and by submitting the following statement of the estimated cost of the working of the company., ,The estimcited cost of tljo slaughtering yards, See.i' in the A^aikato' would be< por -annum :— Rental for 100 jacres, land,, LsQ; siding, L 200; 3 trucks," LlOO each, L 30 0; cugine and machinery, L 200; yards'. ahiU buildings, «L7ooj f labour, 4 hands, £400 ; manager, Waikato, L 35 0; secretary, L 15 0; total, L 2300. , > ' 4 • , - 1 Auckland. , Freezing chamber, L 200 0; rent qf>'ground, L2OO ; engine, L2OQ; freezing traachine.i L 300; hands, L 60 0; fuel, manager, &c, L 40 0; total L 3700. , „ -' ,'' V ' fc "-' ! -" >f '/, , ~jMr Steele ,hadf noticed ( ,*b*yithe respect tQ;tnejcf pr^p,pse t d.^relati J Qns ,-with the Home iff Vrket ; that i^^'e month's of I^ar^tf, Apriland May, „d,uringlwhicti prices' 'yrjsie

highest at. home, ( and )% 4etnaud greatest, were the very months most suitable to their purpose ; prices being lowest then here, and the demand poor. They would thus see how indispensable a freezing chamber, to -be -built in -Auckland,«rWas?to their project. ~" I .; In feply'to'a question, Mr Roche said he could not see why they should wait until Wanganui had started the freezing and exporting business. , In fact it had 1 already fallen through there. He thought that the four large ports, in New Zealand, viz., Dunedin, Lyttelton, Wellington, and- Auckland, should be immediately possessed of freezing chambers, and they would have to be sooner or later, and why, therefore, should they not be in the market before anyone else, if they could possibly be so. Napier, Wanganui, and New Plymouth, were all roadsteads ; aud as the meat would have to be carried out to the ships in lighters, by which .it would be greatly endangered and knocked about, it was evident these places were not likely to take the initiative in the freezing movement: why, therefore, should they wait. He expected to see a good many more present that day ; but, from what he had learned, a good number of their best supporters Avere contented with the project as set fdrth in the prospectus, and had, consequently, kept away. As the project was not likely to entail much outlay, and has it had been satisfactorily shown that the profits which were certain to be derived from it would be large, he noped to see all classes, both large and small, of the pastoral and agricultural community take an interest in it. He had learned the opinion of a home merchant on the future prosperity of New Zealand. This gentleman had remarked that there was a great future in store for this colony ; because the freezing scheme would re-organise everything. He had also given as his opinion that New Zealand could export better produce than any of the Australian colonies, the grass being better here, and the meat, consequently much superior. The, freezing process would always give them a market. New Zealand had already secured a good name in the Home market, and why not maintain it ? Mr Duncan (Raglan) said he had received a letter from Mr Germann, the secretary, asking him to ascertain the opinion of the people of Raglan on the matter ; but he had received this letter too late to call a meeting and act in accordance with the request. He could not therefore say he was there that day as the representative elect of the Raglan people ; but still he could give them his opinion on the matter. Any company which had for its object the raising of the price of cattle or stock, or agricultural produce of .my sort, would have the support of the Raglan settlers. Here, in Waikato, they had not the disadvantages to contend with they had in the Raglan district. They had a railway here passing through their farms to bring their produce to market within a day, but they had no such thing at Raglan. The livelihood of Raglan settlers depended on the price they got for their cattle, and, consequently, any project which tended to raise that price would have their hearty support and co-operation. The few to .whom he had spoken on the matter expressed their intention of taking shares in the company if it was floated with any prospect of success whatever. He ielt certain that if a share list was sent to Raglan it would receive a good number of signatures. The Chairman read a letter from Mr Murray, of Piako, in reply to his request to call a meeting and ascertain the opinions of the people there, which stated that the request came to hand too late to be carried out. He would, however, draw their attention to the matter through the local paper, and do his best to ascertain what they thought of the project. Mr Duncan did not believe that the shares would be taken up so readily in the Raglan district as they otherwise would if the site of the company's works in Waikato was fixed before the share list was sent round. Mr Fitzpatrick thought the best thing they could do was to leave the matter for a public meeting of the shareholders to decide. In that case they would likely decide upon the site best suited to the convenience of the majority. Nobody would then have occasion to grumble. The decision could be taken by voting, and the absentees could vote by proxy. The Chairman thought if the people could get a few shillings more for their meat they would not mind driving their cattle a few miles extra. He thought they could safely leave this matter in the hands of the provisional directors. The Chairman said there was another matter which had not yet been brought forward. It was that the company proposed paying a shilling a pound to all shareholders for fresh butter. They all knew what a loss butter was sold .at for the past two years in Waikato, whereas if this butter were put in the freezing chamber and shipped off Home it would be found to return a fair profit on the trouble and expense of making. A company undertaking such work as this ought to have the hearty support of the farmers. Mr Goodfellow proposed that the minimum number of shares to be issued to one individual be not less than 30. Mr Ring seconded. Mi* Roche proposed as an amendment that the minimum number of shares be 50. Mr Fleming seconded. Mr Duncan thought there were many small setters in Waikato who could not afford to take fifty shares, but if the number were thirty they would probably invest. In reply to a question, the chairman said the manager of the company would only buy first-class meat, which would be worth 235, and thus the man who had got a poor beast to dispose of could not come to the company and get 25s for what he could only 1 get 18s for elsewhere. ' Mr Goodfellow's motion, that the minimum number of shares to be issued to one man, was then put and carried. Mr Fitzpatrick then proposed the following resolution, "That the prospectus as approved of be adopted and printed forthwith, and theiahares be immediately put in the market, when 30,000 shares are sold the company' to be registered, and the shares remaining unsold (if any), to be kept for fnture use. Mr Goodfellow seconded, and on being put to the meeting, the motion was carried unanimously. Mr Duncan moved that the number of shares which a man must hold before he could be a director in the company be 100. This would enable the small men who had a comparatively large interest in the concern, to be elected. — The motion was seconded. Mr Fitzpatrick moved as an amendment* that'the number be 200.— Mr Goodfellow seconded. The Chairman remarked that according to the amendment^ a person need only invest £50 to entitle him to sit aa a director. Mr Duncans motion was put and carried. Mr Fitzpatrick moved that the site for slaughtering the cattle 'in Waikato. be left' for the "shareholders to decide^by vote.'-^-Seconded by Mr'Steele. » '^ <>* , Mr':Roche thought there was no'use* in. electing directors f jf they did not leav;e such business as 'this for them to decide. He, thought, a' dozen nien elected by the shareJioUlersf would come tq a more s^tis-

factory conclusion than, a meeting of shareholders. X Mr Fleming proposed as an amendment, that the matter of choosing the site bo left in the hands of the directors. — Mr i -RtfchV Seconded. The motion" was put and carried. Mr Steele "then moved, "That in the opinion of this meeting, the provisional directors should now take the necessary steps to appoint a solicitor and bankers, present prospectus and share-list, and appoint canvasser, if necessary." Mr Westney seconded the motion, which was carried. A hearty vote of thanks to MrGermann for the very able manner in which he had conducted the preliminary business of the company was accorded.' ' Mr Geruiann having expressed his willingness to continue in office as secretary, pro tern, until the company was j fairly under way, without remuneration, his services were thankfully accepted. This terminated the meeting. A meeting of the provisional directors was held subsequently, the following being present :— Messrs Gennaun (iv the ohair), Edwards, S. Steele, S. S. Graham, Goodfellow, and Roche. The name of Mr W. Duncan, • Raglan, was added to the list of provisional directors. Mr T. Gresham was appointed solicitor to the company pro ton, and the appointment of bankers was deferred. Mr Germann was deputed to prepare the prospectus and share-list, and was elected secretary pro tern. The share-list was ordered to be open to the 4th Tuesday in October, applications to be made to the secretary at Faterangi, or to any of the provisional directors. It was resolved to advertise prospectus in The Waikato Times and Auckland Herald, and the meeting then adjourned till the 4th Tuesday In October, when they will meet at the same place.