COMPANY AFFAIRS.

Auckland Star, Volume LVIII, Issue 46, 24 February 1927, Page 4

COMPANY AFFAIRS.

SOUTHLAND FROZEN MEAT CO. DIVIDENDS FROM INVESTMENTS. Speaking at tlie annual nicotine of the Southland Frozen Meat and Produce Export Company, which was held at Invcrcarpill on Saturday last, Mr. J. Gilkison (chairman of directors) summing up the results of the year's operations, said that, in addition to earning 10 per cent on its premium capital, the company had added £2423 to its assets. When it was considered. however, that the company had over £140,00(1 invested outside the freezing business, and that it supplied electricpower and light to Mataura, and farmed over 800 acres of highly improved land trom all of which it received a substantial aggregate revenue, it would be seen how small the returns had become from the business of slaughtering and freezing stock. Mr. YY . T. Ha/.lett. one of the directors, said that the position with all freezing works had become so critical that the directors had decided to send Mr. Gilkison to London to represent the company and investigate lully the Smithfield market. Mr. Gi Ikison said that prosperity was bound with the value of land in Southland. It had been found necessary to bring farmers into more direct contact with the consumers at the other end. An increase in production of freezing lambs meant much less expense in freezing '•bulges. Personally he could not understand why a quarter from a 441b lamb should be classed as inferior to that of a 361b iamb. He had put this down to lessened ability to buy. Other New Zealand companies were making more progress at Smithfield. Tie intended to spend several months in Loncion. and report direct to the directors of their company. He promised to do the besi he could to satisfy the wishes of the directors.