FREEZING CO. FINANCE
Severe Competition Felt MEETING IN CHRISTCHURCH (By Telegraph—Press Association.) CHRISTCHURCH, Feb. 1. The annual meeting of shareholders in the New Zealand Refrigerating Co. was held yesterday. The chairman of directors, Mr W. H. E Flint, referring to the dividend, said he knew that some shareholders would be disappointed that the directors had not recommended a larger distribution, but in deciding upon a dividend of four per cent., with a special bonus of one per cent., the directors had followed the only course they believed consistent with a reasonably prudent policy. Conditions Tn tho industry had improved, but they could not predict for how long this betterment would continue Freezing companies in Canterbury also had to contend with many difficulties, not the least of which was the increasingly severe competition from overseas interests, whoso financial resources were infinitely greater than those of locally-owned companies.
The retiring directors, Messrs W. H. E.’ Flint and J. R. Cunningham, were re-elected.
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Bibliographic details
Hawke's Bay Tribune, Volume XXIV, Issue 43, 1 February 1934, Page 5
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160FREEZING CO. FINANCE Hawke's Bay Tribune, Volume XXIV, Issue 43, 1 February 1934, Page 5
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