MAY RE-OPEN

Hokitika Guardian, 30 November 1933, Page 4

MAY RE-OPEN

FREEZING WORKS AT WAIROA.

DAMAGED DURING 1931 ’QUAKE.

(Per Press Association —Copyright).

WAIROA, November 29. The Wairoa meat works were badly shattered by the ’quake in 1931, then subjected to fire two days later which destroyed the freezing chambers and damaged other departments. Efforts to raise finance ,to re-establish the works have been made since then, but without success. An attempt to sell the works to an outside organisation was defeated on being put to the shareholders.

It now appears that there is evei y likelihood of another effort being made to re-establish the works, as the chairman of the board of directors (Mr , Jessup), in the nineteenth full report s t a tesSheep farmer shareholders in the Wairoa district are suffering heavy loss on fat stock through the cost of transport to Gisborne and Napier, ow- - ing to depreciation whilst in transit. The directors, therefore, have concentrated on restoring the works on sound { working lines, and it is hoped this ob- ..A ject will be achieved in the coming years on a basis which will protect the capital and interests of the' shareholders.

The property includes 55 acres of valuable land, twelve residences, company's offices, factory buildings, undamaged plant, entirely free and unencumbered. In addition the company has a cash credit balance of £3368, and trading stocks valued at £1796. All buildings, machinery, etc., have been well maintained. Machinery and plant were re-valued in 1932 at £34,579.