SOUTHLAND FROZEN MEAT COMPANY.

New Zealand Herald, Volume XXXII, Issue 9735, 4 February 1895, Page 5

SOUTHLAND FROZEN MEAT COMPANY.

A DISASTROUS YEAR. [by TKLKURAPH. — PRESS ASSOCIATION.] Invercakgill, Saturday. The annual report of the Southland Frozen Meat Company states that the loss on last Fear's operations amounted to £16,579, which, added to £3101 brought forward from the previous year, makes a debit Glance of £19,680. This disastrous result '» almost entirely due to the loss arising trora realisation, in London, of the company's purchases of meat at a time when the Market was glutted, and when the prices rated lowr;r than had been known since the initiation of the trade. The total number of carcases put through the works for the year was 130,600. The report states that in the face of the deficiency it is impossible 0 car ry on unless satisfactory arrangements can bo made regarding finance. Negotiations had been going on in that directiou, out, owing to an unfortunate break in the cable, the directors were unable to say whether or nob they were likely to succeed. 1 the meantime the works would remain Cosed, but they were hopeful that arrangements would be made whereby the valuable a ®sets and connection of the company will be Preserved. The balance-sheet shows an overdraft to the Bunk of New Zealand amounting to £22.258, while the total unfiled capital is £6105.