FREEZING COMPANIES.

Auckland Star, Volume XXXI, Issue 202, 25 August 1900, Page 2

FREEZING COMPANIES.

' PROPOSED LIMITATION OF ■ ' . . PROFITS.

(By Telegraph.—Press Association.)

DUNEDIN, this day.

At a meeting of the Refrigerating Company Mr' Roberts, referring to; the Bill to limit such companies' profits, said: '"Losses are not unfrequently made .in such . businesses. It seems rather strange that as soon as an exceptionally profitable year comes legislation should at once be Introduced to deprive, shareholders of profits they are Well entitled to. I see In this movement an endeavour made to establish a most extraordinary precedent, and, if the wishes .of. the mover be acceded to, then the sooner we call on the State to run all'commercial enterprises the better. .If such an'interference as is proposed is, actually carried out, why not include1 all limited companies, no matter what is the nature of their businesses ? Then, If the\ State is to interfere in controlling the Company wben profits are excessive, they should also be called' upon, to 'make somo provision for llmjtIrig losses when made, and how can this' be, done? The propofiitlon made seems to me to be so strange that I can hardly believe .that .it is meant seriously. The formation of rings is no doubt most undesirable', and, if indulged in, discord must ensile, but I can hardly believe the Wellington companies,- against whom legislation seems 'mainly directed, can have formed arty compact. The establishment Of State freezing works would, judging from the experience of some of the Australian colonies, only result In demonstrating that the State cannot compete owith private- enterprises in the. freezing.business," : ., , ';!'. : ■_'..-._