FARMERS' FREEZING CO.

Auckland Star, Volume LXI, Issue 229, 27 September 1930, Page 4

FARMERS' FREEZING CO.

ANNUAL MEETING. The annual meeting or shareholders in the Auckland Farmers' Feezing Co. was held in the Chamber oi.' Commerce rooms yesterday, the chairman of directors, Mr. J. E. Makgill, presiding. lii moving the adoption of the balance-sheftt and report, including the recommendation of a six per cent dividend, published in the "Star" on August 22, Mr. Makgill said with reference to the extension now being undertaken, that the new building would have a capacity of 150,000 boxes of butter. They -had hopes of the rooms being available about the end of December, although the new refrigerating plant would not be ready by that date, but the present plant would be able to hold the needful rooms in the meantime. The cost of this work will be considerably more than the company agreed to provide in the arrangement with the dairy companies, but the directors felt that with the continued extraordinary development of dairy production and the increase in the fruit trade, it would be folly not to make provision which would meet the probable requirements for some years ahead. It was certain that if the Dominion was to progress the volume of our exports must increase greatly. Auckland province had vast areas which must yet become productive, and also a great part of the areas already in production would yet be made to produce much more

than they are now doing. The provision of yet more storage accommodation would again face the company before very long. The chairman dealt fully with the output from the various works. In reference to general conditions he stressed the point that the dairy farmer is not receiving anything like the rates of pay per hour worked, that are paid in other industries. The contention might be raised that the price of land should be reduced, but he could not see why farming land capital should be expected to bear the brunt always of any needful adjustment to bring about a sounder position. He asked why should not be .adjusted, also in that direction. The\only hope for many small farmers was a reduction in interest charges, .and in the cost of their requirements. In other parts of the world they saw capital lent at lower rates for rural needs. There were still large areas of land in New Zealand that could be made productive, if properly handled, provided capital was available. The report and balance-sheet were adopted, and the retiring directors, Messrs. J. Barugh, M. Harding, and J. W. McAuley were re-elected unopposed. On the motion of the chairman a vote of thanks was accorded the staff. Mr. Simpson in responding, said that exports to the value of £10,000,000 out of the Dominion's total of £45.000,000, were handled by the Farmers' Freezing Company last year. A vote of thanks was accorded the chairman of directors for his admirable review of the year's operations.