FREEZING INDUSTRY

Dominion, Volume 22, Issue 29, 29 October 1928, Page 6

FREEZING INDUSTRY

DECIDED IMPROVEMENT FEILDING COMPANY SHOWS PROFIT Feilding, October 28. Speaking at the annual meeting of shareholders of the Feilding Farmers’ Freezing Company, Ltd., yesterday, the chairman df directors Mr. J. G. Cobbe, stated that the past year’s working showed a decided improvement both in. the number of stock treated and in the financial result to the company. The previous year, owing to various causes, a loss of £6604 was shown, but the past twelve months’ operations disclosed a profit of £lBO2, all of which the directors had written off as depreciation. Referring to the coming season, Mr. Cobbe said that exceedingly satisfactory arrangements had been made, and the company would be in a position to offer prices for stock that would be on a level with the highest prices ruling in this part of the Dominion. f ‘ '

Continuing, the chairman said it was pleasing that Labour conditions at Fcilding works had been entirely -‘"Satisfactory during the past season. In regard to prices for stock. Mr. Cobbe anticipated that there would be a certain easing when the killing season opened unless wool prices returned to their former high level, when the exporter could hardly afford to pny for export purposes the high prices that had been ruling. One of the most pleasing features in connection with the frozen meat trade, the speaker stated, was the high reputation of New Zealand stock on the London market, and it should be the farmer’s constant' care to maintain this reputation, and, if possible, improve it. Farmers should never lose sight of the fact that -the Argentine was and always would be a dangerous competitor, and the one weapon with which the New Zealand farmer couljl confidently meet that competition was quality. Mr. Cobbe then went on to relate the opinion of a London expert on the light-weight lamb question, and stated that he had been informed .that when this improved type came on the market in sufficient numbers the price would improve. ':; \The improved position of the Feilding • works was then referred to by the chairman, who issued an appeal to all farmers in the district to support their own concern and so improve their future prospects. The local works had had a bad time, but they had now pulled through arid were round the corner, and future prospects were good if farmers rallied round their own works.

The retiring directors, Messrs. J. G. Cobbe, Hugh Burnell, and J. J. Bryce, were re-elected.

'At a meeting of directors held later, Mr. J. G.' Cobbe Was re-elected chairman for the ensuing year. Mr. Cobbe was first elected chairman in May, 1923.