THE MEAT MARKET.

Auckland Star, Volume XL, Issue 203, 26 August 1909, Page 7

THE MEAT MARKET.

EXPORT COMPANIES' REPORT. (By Telegraph.—Press Association.) WELLINGTON, Wednesday. The annual meeting tof the Wellington Meat Export Company wae held to-day. The report, recommending a half-yearly dividend of 2 per cent in addition to the interim dividend of 4 per cent already paid, was adopted. In his address the chairman (Mr. C. Elgar) said: "Your direr-tors regret that the results of the year's operations are not such as to warrant the usual 4 per cent dividend for the half-year being paid. The primary cause of the unsuccessful year's work has been the utterly demoralised state of the London meat market, which has been going from bad to worse since the beginning of the year. The reason would ap-' pear to be the enormous quantity oj meat that has found its way to the market this year from all quarters. The quantity of live stock purchased by the company and shipped to London with such bad results has been to a certain extent reduced by numbers of farmers shipping on their own account and at their own risk, and the sympathies of shareholders are due to thosn who bore their own burdens in this way and loyally supported the company. With the London market in its present glutted condition, and no hope of a clearance before the new season starts, it seems almost certain, much as it is to be regretted that the prices which it will be possible to offer farmers at the opening of tlie season will be far below those which they have been accustomed to expect for a good many seasons past. The one bright feature in the year's operations has been the improved value obtained for wool, and while other by-products, such as tallow, pelts, etc., have not met an advancing market, the prices have been well maintained." Messrs. H. Holmes and O. C. Wheeler were re-elected directors.