CANTERBURY FROZEN MEAT COMPANY.

New Zealand Herald, Volume XLII, Issue 12775, 27 January 1905, Page 6

CANTERBURY FROZEN MEAT COMPANY.

:/;..;•"' '/'■<» * —.■'■'■",. STATEMENT BY THE CHAIRMAN. [itY" TELEGRAPH. —PRESS ASSOCIATION.] . ; Cheistchurcti, Thursday. At the annual meeting of the Canterbury Frozen, Meat Company to-day, the report presented stated', that for the first time in i the history of the company the figures show t a loss on freezing operations for the year, which, with the interim dividend paid in; June last, amounting to £3927 6s Id, left a total at debit of profit and loss account of £6092 6s Bd. The ". result was attributable to the unforeseen diminution of stock in Canterbury, the slaughtering operations at Belfast and Fairfield having diminished! one-third. The .figures are:—For the year ending November 30, 1903, 950,741 head; for the year ending November 30, 1904, 608,404 head; thus showing a decrease of 342,337 head. This was equal to a decrease of 36 per cent. The decrease in stock slaughtered for freezing was: Belfast, 132,925 sheep, 76,951 lambs ;.Fairfield, 69,012 sheep and 26,060 lambs ; or a total of ,i 01,937 sheep and 1 103,011 lambs. . There was also a decrease of 29,250 head of sheep, cattle, and pigs slaughtered for local consumption. In moving the adoption of the report, the chairman (Sir George Clifford) said the position was, to a great extent, created oy shortage of stock in the Canterbury district, and consequent lessening of the number of .sheep and lambs available for export. Profit began to accrue only after; such amount of meat had been treated asi would suffice to recoup the constant and uniform expenses and charges incident to company's operations. Such deficiency operated more quickly on a company debarred from competing in the open market for supplies, and which must wait until clients thought fit to purchase or forward carcases to till its chambers. The state of tho case was best illustrated' by the actual figures for the first three seasons at Belfast and Fairfield, which showed: In 1902, 813,806 carcases gave a profit of £11,610; in 1903, 893,796 carcases, a profit of £12,212: in 1904, 598,868 carcases, a loss of £2567. He went on to deal with the reasons for the shortage of stock, and the need for farmers supporting the company by forcing stock into the works. Referring to tho new works at Pareora, he stated that none of the loss was attributable to them, the success having been marked. With the inevitable economies contemplated, and the willing acceptance of almost imperceptible alterations in the charges, and with a loyal endeavour on tho part of shareholders and supporters to direct towards the works all tho business they control, he would bo disappointed if the next annual report, did not bear a different face; but the ultimate improvement of trade rested with tho farmer and Una nolhods. A lengthy discussion followed, shareholders inquiring when tho loss was known, and criticising the action of the directors in declaring a dividend for the half-year. In reply, to Sir John Hall, the chairman ■ stated that the directors would bo glad of an arrangement with the other Christchurch company to raise charges for freezing. The discussion ended without any motion being made.