NORTH CANTERBURY FREEZING CO.

Press, Volume LXXVIII, Issue 23809, 1 December 1942, Page 6

NORTH CANTERBURY FREEZING CO.

ANNUAL MEETING OF SHAREHOLDERS CHAIRMAN’S REVIEW The annual meeting of shareholders of the North Canterbury Sheepfarmers’ Cooperative Freezing Export and Agency Company was held in Christchurch on Wdenesday, November 25, the chairman of directors (Mr J. H. Blackwell) presiding. In moving the adoption of the annual report and balance-sheet, the chairman referred to last season as being a year of record exports for New Zealand, showing that New Zealand producers, in spite of handicaps, were responding to the call for increases in all classes of food production. In the meat freezing industry, he said, New Zealand lamb killings showed a slight decrease, while wether and ewe killings showed a substantial increase, mainly in the North Island. The annual lamb exports for the last two years exceeded 11,000.000. as compared with 10.000. in 1939-40, 8,000,000 for the preceding five years, and less than 6,000,000 annually before 1929. He referred to the policy of the British Ministry of Agriculture in reducing flocks and herds and converting pasture into arable land m order to produce more food an acre. This would result in a shortage of homekilled meat when normal markets resumed. There would be also a huge demand for food for the countries ravished by war. Strength of Flocks New Zealand flocks had declined since 1938 by 2 per cent., while the reduction in Canterbury sheep totals in that period was nearly 10 per cent. In the same period, Australian flocks had risen from 108.000. to 122,000,000, an Increase of 12 per cent. South America was increasing lamb and sheep exports. These facts served to emphasise the need for New Zealand preserving its main asset of "high quality." Storage space available at the works had been increased during the year and shipping had proved bettor than estimated, and the season would start at Kaiapoi with the stores practically empty. Nevertheless, war conditions meant uncertainty and the immediate outlook for shipping for the season was obscure. Mr Blackwell referred to the need for profound gratitude to the magnificent work of the Royal Navy and merchant service, assisted now by our gallant Allies. The outlook for the coming season was promising. The winter and spring seasoas had been favourable and the lambing percentage excellent. With prices guaranteed under the favourable agreement made by the British Government, there should be every incentive to producers to carry New Zealand production to yet greater heights, not only for economic reasons, but for the overriding purpose of the essential provision of the sinews of war. Last season started under the handicap of the sheep losses caused by the severe winter of 1941, and these, on top of the sharp decline in Canterbury flocks, caused a reduction in total Canterbury killings of about 200,000. Average weights, however, increased by approximately 11b a head and the percentage of seconds declined by about 6 per cent. Mr Blackwell referred to the difficulties in war time in the operation of freezing works. Many men from the Kaiapai organisation were on active service. Provided, however, that the necessary assistance promised by the authorities materialised satisfactorily, it was hoped to maintain labour efficiency. Works and plant were thoroughly maintained and equipped. Disposal of Output Since the reorganisation of the North Canterbury Freezing Company some years ago, its output had been distributed in conjunction with that of the Ocean Beach Freezing Company. This arrangement had worked very satisfactorily and had been recently renewed for a term of years. It was important to the Kaianoi Company and its producer-shareholders that the Ocean Beach Company should remain a strong and independent meatbuying organisation. In view of recent publicity, it was satisfactory to know that this essential policy had been thoroughly safeguarded. Mr Blackwell gave details in connexion with the balance-sheet, which showed a credit on the year’s operations of £3878 7 6 plus? carry forward of .. 4558 12 6 8437 0 0 The directors proposed a dividend of 5J per cent, on the preference shares and 4 per cent., on ordinary shares, absorbing .. 3055 15 1 Leaving a balance to be carried forward of .. £5381 4 11 General In seconding the motion, Mr Colin McIntosh referred to the decline in Canterburv flocks. This was due to the fact that Canterbury was the granary of New Zealand and had been doing its war job of increasing food supplies. Ncverthe-' less, he stressed the necessity of building up flocks, giving particular attention to the question of quality and condition. Mr H. G. Parish urged farmers to give special care to the transport of stock to the works, also to keeping lambs free from dags in order to avoid bruising and rejects. Other speakers were Messrs G. McGregor, J. Ashworth, D. Mackay, and George Gardner. Messrs Colin Mclntosh and H. G. Parish were re-elected directors. Messrs Hicks and Ainger were reappointed auditors. The chairman moved a vote of appreciation to the management, staff, and organisation for their year’s work, which was- carried out under war-time difficulties. A vote of thanks and appreciation was passed to the directors of the company. A vote of sympathy was passed to Mr and Mrs E. Clothier, whose son, Pilot Officer H. G. Clothier, a member of the clerical staff, had been reported missing on air operations. At a subseauent meeting of directors. Mr J. H. Blackwell was re-elected chairman, and Mr Colin Mclntosh deputychairman. —6 (Extended report published by arrange--ment.)