MEAT FREEZING INDUSTRY

Nelson Evening Mail, Volume LXI, 18 June 1926, Page 6

MEAT FREEZING INDUSTRY

-, MANY COMPANIES IN •TROUBLED WATERS V (Social to Mail.) •" , This Day.. SomeiofytKe- meat freezing- companies oyriecl ■ arid controlled by farmers are passing through troubled waters, and it 1 i^/evicte'iit-that the shareholders, and in some cases the creditors/too, will have . , to'ia'cesericnis-losses, said the chairman ■ or directors of the Bank of New Zealand at Wellington to-day. When,- durinjg* the war, advances We're'made for the purpose of assisting ■ In the erection;or extension of freezing t works, it looked as if there were a- fair 1 margin of security; but the unforeseen for legislation, subsequently enacted, placed in the hands of the ' Meat Control Board the power to block SJtles of freezing works, and already permission for the sale of one important . works has been refused. We dri not question the good intention of Parliament in passing this legislation,, not'the good faith of the Meat Control Board in administering the law. Nevertheless, the result of it all is that - freezing works have now become v of little" value as a Security, and will remain so, unless something is done by Parliament to rectify the present , anomalous position. ~lt seems inevitable that certain works will be shut down and the whole freezing industry left in the hands of a few proprietary concerns. It may be that the very companies that were refused permission to buy will get for nothing a portion at least of a trade they were willing to pay for.