WAIROA MEAT COMPANY

Hawke's Bay Tribune, Volume XXI, Issue 304, 8 December 1931, Page 9

WAIROA MEAT COMPANY

ANNUAL GENERAL MEETING YEAR’S ACTIVITIES REVIEWED The annual meeting of the Wairoa Farmers’ Co-operative Meat Company, Ltd., was held in the company’s offices on Saturday afternoon. Mr J. S. Jessep. chairman of directors, occupied the chair, and there were over one hundred shareholders present. The report and balance sheet was adopted and Messrs McCulloch, Butler and Spence were re-elected auditors. In addressing the shareholders the chairman stated that up to February 3, killings at the works showed a very marked increase over those of the previous year. In 1930 up to February 3 the killings were.— Sheep, 8280; lambs 27,997. In 1931 to the same date, these figures showed, sheep 22.098; lambs 28,293. Everything pointed to a record killing. The disastrous fire which occurred on February 5 put the works out of action, and this and the long delay in settlement with the insurance companies, prevented any chance of the damaged portion of the works being re-built in time to do anything for the present season. The long distance to the works on the other side of Wairoa, and the expense and deterioration caused by the transport of stock, will place a very heavy handicap up: r the farmers of the district. The wear on tho roads also, if all stock has to be transported by lorry, would eventually be a further tax on the ratepayers. The loss of the works would cheek development of fat lamb raising, which at the moment, was about the only profitable outlet from sheepfarming. The directors of the company were unanimously of the opinion that every possible effort should be made to have the damaged portion of the works reconstructed, and it is hoped that this will bo carried through in time for the opening of next season. The freezing works were an absolute necessity to the district. So far as the town of Wairoa was concerned, the amount of money which was put into circulation was a matter of very material moment to every business man in the district. The financial position of the company was explained to the shareholders by the chairman, and the comparisons made showed that the company had made very material progress. During the last eight years, liabilities had been reduced. Apart from capital called up to the extent of £46,000. depreciation to the amount of £57.735 13s 4d had been written off the Buildings and plant. During the same period the sum of £41,373 had been spent in repairs and maintenance, so that the whole of the company’s plant and buildings had been kept in a sound state of repair, and thoroughly up to date. At the close of the annual meeting a general discussion took place and a recommendation to the directors was unanimously carried, to tho effect that the freezing works were essential to the Wairoa district, and that every effort should be made to have the works reconditioned and put in working order at the earliest possible date.