THE FREEZING INDUSTRY.

Hawera Star, Volume XLV, 21 January 1926, Page 10

THE FREEZING INDUSTRY.

CHRISTCHURCH RUMOURS.

MERGING OF COMPANIES

The freezing works problem has been causing serious concern to shareholders, the number of works being too many, and their requirements and overhead charges too heavy for profitable operation. 'The losses in New Zealand run into many thousands of pounds. The New Zealand Refrigerating Co., Ltd., operating the Unlay works and owned principally by Canterbury people, i; reported to have made an effort to solve the difficulty so far as the Wanganui district is concerned by acquiring an interest in the Wanganui Meat Freezing Co., Ltd. (says an exchange). It is reported that the Wanganui Conipanv’s works will be closed down for slaughtering purposes, but freezing will be carried on in connection with the dairy industry. When the above statement was shown to an official of the New Zealand Refrigerating Company at Christchurch he refused to make any statement. His reticence went to the length of refusing either to deny or confirm the report. “T don’t want you to ask me any questions.” he said.

Tt is usual to find whispers on the Sto k Exchanges before there are any company mergers, but in the present instance an exception to the general rule appears to have been provided. Tt is true that the shares of the New Zealand Refrigerating Co. have advanced suddenly. but this apparently is due to a report that the company, despite the bad season experienced last year in the meat, export trade, is likely to pay the iicsiri] annual dividend of 6! per cent. A report that lias been current for some time is that some of the meat companies are likely to work in some form of combination to oppose other meat freezing interests.