GEAR MEAT COMPANY

Evening Post, Volume XCVIII, Issue 145, 17 December 1919, Page 10

GEAR MEAT COMPANY

SUCCESS OF PAST YEAR

The .r<-f__fy general meeting of the Gear Meat Preserving and Freezing Company of New Zealand, Ltd., was held last night. Dr. A. K. Newman, in the absence of Mr. W. H. Millward, chairman of directors, presided.

The annual report and balaaice-sheet, details of which have already appeared in The Post, were taken as Tead. In moving their adoption. Dr. Newman Tead the typewritten remarks of Mr. Millward. Having congratulated the shareholders upon the results of the year's operations, Mr. Millward said it was only fair to the company to state that the profits had been considerably enlarged by tho enforced storage of meat and wool at, Tates fixed by the Imperial Government. Then, again, for two years prior to the signing of the Atmistice, there had been no shipping available for either tallow or pelts, and these had necessarily to be held until an opportunity occurred to realise them. During that time large quantities had accumulated, and when they were sent forward they had met unprecedentedly high prices. He was pleased to say that owing to the care exorcised in their preparation and housing there had been no complaints of deterioration; consequently the consignments produced maximum values. He reminded shareholders that, during the war and since, the company had not raised the retail prices of meat, and had only slightly adjusted its charges for canned goods and manures, so that, although the profit and loss account showed a large balance, it had not been obtained at the expense of consumers here, but through open selling in the markets of the world.

The properties and plant had been well and carefully maintained,. and were- fully equal to anything that might bo required of them. Further improvements and additions were contemplated when manufacturers were able to deliver tho necessary machinery. There were- many opinions as to the world's shortage of meat, but it might be as well to remember that in tho meantime not only were thero large ouantities in hand at the sources of origin, but the stores in Great Britain wero practically full, and the discharge of steamers was being delayed on that account. The docks were very congested, and the transport was unfortunately v frequently interrupted through various intermittent labour trouble.. The Continental countries were finding the adverse rate of exchange an obstacle to their purchasing beyond barest 'requirements, and at the moment there was little demand in Central Europe for canned goods.' The report and balance-sheet -were adopted, and the meeting authorised the distribution of the dividends and the bonus as set forth in, the report.

Dr. Newman and Mr H. Beauchamp, retiring directors, were -reappointed unopposed.

Messrs. W. Hunt and E. R. Dymock were reappointed auditors, the fee being increased to 300 guineas.

The shareholders congratulated Mr W. H. Tripe upon his promotion to the position of general manager, and thanked the staff for the success it had achieved in the past year.