DUNEDIN REFRIGERATING COMPANY

New Zealand Herald, Volume XXIX, Issue 8948, 4 August 1892, Page 5

DUNEDIN REFRIGERATING COMPANY

[Br telegraph.—PßESS ASSOCIATION.] Duxedin, Wednesday. At the annual meeting of the Refrigerating Company, Mr. John Roberts, chairman, in moving the adoption of the report, said a loss had been made on the year's operations of £1917, owing to the purchase of sheep to fill engagements. The Elderslie and Fifeshire had been chartered severa* years ago, and by doing bo freight on mutton had been reduced. As sheep were not brought forward, the Company had to buy when prices were high and frozen mutton low, or become liable for dead freight, which would have involved a heavier loss. Although the freezing rate had been reduced, instead of an increased output, the reverse had been the case, and there had been a falling off of 72,700 carcases in Oamara and 63,300 nt Burnside. The exceptionally fine grass season and the drain which had been made on flocks was the cause of this. He referred with regret to the fact that shareholders had not endorsed the action taken by himself and Mr. Brydon last year to sell the works as a going concern to the Nelson Brothers. Messrs. A. C. Begg and E. B. Cargill were re-elected directors.