PATEA FREEZING WORKS.

Hawera Star, Volume XLVIII, 9 October 1924, Page 2

PATEA FREEZING WORKS.

ANNUAL MEETING. The annual general meeting of the Patea Farmers’ Co-operative Freezing Company was held on Tuesday, Mr C. D. Dickie presiding. Messrs B. C. Lysaght, S. C. Tonks, AY. C. Glennv, F. Naismith, G. McGregor, C. B. Honey held, E. Parsons, A.* E. Symes, A. T. Wills, J. H. Yerry, W. Back, R. G. Scown, J. E. Palmer, C. J. Hawken, S. Douglas, AY. H. Kent-, E. F. Hemingway, F. AY. 'Grainger and Captain Johnston were also present. The annual report was read as under:— “In submitting the statement of accounts and balance-sheet for the year ending July 31, 1924, your directors beg to report that the year’s operations resulted in a small loss of £o 16s Bd, attributed chiefly to. the drop in values of mutton and lamb during the middle of the season and the adverse rates o.f exchange. The repairs and renewals have been kept up. Sundry improvements effected have resulted in the works being more efficient than heretofore. Your directors have to thank farmers for their loyal support during the year, which has resulted in an increased quantity of stock being treated. Slaughterings for the season are as follows: — Sheep & Cattle. Lambs. Pigs. July 31, 1924 ...12,019 94.470 July 31, 1923 ... 6,818 54;610 536 Increase 5,201 39,860 Decrease 536 “Your directors to retire by rotation are Messrs B. C. Lysaght, A. E. Symes and A. ,T. Wills, who are eligible for re-election. A vacancy caused through the death of Mr. AY. D. Powdrell remains to be filled. Your auditor, Mr B. Burdekin, also retires, and offers himself for re-elec-tion.” The balance-sheet, which showed a loss of £5 16s on profit and loss account, was also read. In moving that the report and bal-ance-sheet be adopted, the chairman said he would like to. congratulate the farmers on the., excellent prospects ahead. There was.-no doubt that the present was the most prosperous time for the sheep farmer ever experienced, and he thought the dairy farmer would also share in the prosperity: He was pleased to he able to report that since the balance-sheet was issued the realisation of stocks had enabled the deficit of £5 16s 8d to be wiped put, and a credit balance of about £IOOO on the year’s working to .take its. place. The fact that the profit was not greater was dne to. a large extent to the high rate of bank exchange, which amounted to 10d per head on all stock treated. As they knew, the amalgamation scheme had"'fallen-through,- and it was reported that the Smart Road AVorks were about to be sold, which would do. away with one of the “unnecessary” freezing works in the province. The establishment of manure works at Smart Road would be of incalculable benefit to the province. He felt that the local company had done good service to the fanner, and had maintained a good price for stock. He would like to stress the point that every hoof'sent cut of the district was a distinct loss to the works. He hoped the farmers would. see that the works were, well supported in the: future. The whole of the machinery and plant was in excellent working order, and capable of treating stock as cheaply as any works in the district. In conclusion, he would like to pay a tribute to the work of the staff during the year. It was highly efficient, and had rendered splendid service in every department. (Applause). Mr Back seconded the resolution, which was carried unanimously. Mr Gregor McGregor said he would like to move a very hearty vote of thanks to the chairman and directors for their work in the past. Their services had been most valuable to the whole district. Had the directors wished, they could have refused to carry on, but they faced every difficulty with courage and determination, with the result that the whole district had benefited. AVith regard to the position of farmers, in spite of the high prices, things were not as good as in the pre-war* days, owing to the overhead charges. Mr E. Parsons, in seconding the motion, said lie had sent some lambs through Patea and some through AYellington, with the result that the local works compared more than favourably with the southern works. He mentioned this to show that the local works could treat stock as cheaply as any other works.

The resolution was carried unanimously with acclamation. Tlie chairman, in thanking the meeting, said the directors had done their best, They had made mistakes, as the directors of other works had, and he hoped they would profit by them in the future. They had now works in their midst costing about a quarter of a million pounds, towards which the farmers had contributed about £40,000. They had hung on through the bad years, and should be able to put the works on a sound basis, but this could only be done through the loyal co-op-eratiph of the farmers in the district. He was pleased to find from Mr Parsons that meat could be treated as cheaply at the local works as in any other works. He. hoped the farmers of the district would appreciate the work of the directors in the past. Messrs Lysaght, Symes and AVills were re-appointed directors, and Mr H. B. Burdekin auditor. —Press.