THE FROZEN MEAT TRADE.

Auckland Star, Volume XVIII, Issue 181, 4 August 1887, Page 5

THE FROZEN MEAT TRADE.

Reports By Two New Zealand

Companies.

(r.V TELEORAFH. — I'RESS ASSOCIATION.)

DtTNEDiN, Wednesday. At the annual meeting of the New Zealand Refrigerating Company, the report, declar. ing a dividend of seven per cent., was adopted, and the retiring directors re-elected. The Chairman said that the number of carcases frozen at Burnside during the year was 45,373, and at Oamaru, 5*2,847, besides which 9016 sheep had been sjaughtered for' outside shippers. This (lumber did(jnot..,include 14,000 carcases Stored in readiness for shipment by the s.s. Bldersliei'i'Thvreturn received by ehippcrc during the year had been most tUsuppointi'ng,"iuH the prices during the whole of that time had been on a lower level than since the commencement of the trade. The net returns during the year, exclusive of skins and fat, had only equalled Id per lb, and taking the average skins as worth 2s 6d and the fat Is, the yield was only 8s tjd per head, which was a large decrea.se compared with past years. The directors would do all they could to meet shippers in the matter of freezing charges.

Wellington, Wednesday.

The annual report of the Wellington Frozen Meat Fxport Company recommends a dividend of 8 per cent., absorbing L 1,082, and earring forward LSU. During the year 50,601 sheep and lamps were frozen, being double that of the previous year. It had been found necessary to extend the company's works. For the season ending May, 1888, engagements has been made for freezing 109,000 sheep, and the number will probably be considerably increased from time to time duriug the year. The scarcity of shipping space, hitherto such a drawback to the frozen meat industry, is may be hoped is now at an end, the Shaw Savill Company having largely increased the frozen storage of their vessels, while an additional line of steamships has been established. The report continues :— "It is to be regretted that the low prices now ruling in England for frozen meat are likely to result in loss to shippers, and some improvement in prices is earnestly to be desired. In the meantime, it is evident that charges of every description must be cut down to the lowest possible limit."