FREEZING MERGER PLAN

New Zealand Herald, Volume LXI, Issue 18711, 17 May 1924, Page 8

FREEZING MERGER PLAN

TENTATIVELY : APPROVED,

EXPERT ADVICE TO BE TAKE}? U4 - A VALUATION COMMISSION. ' [BY TELEGRAPH. —PRESS ASSOCIATION.") WELLINGTON. Friday. Some • important proposals were forthcoming at a meeting held in Wellington to-day upon the subject of the organisation of the freezing companies under one board, having for its object to acquire on behalf of the stock owners of tie Dominion all the freezing works at present existing for the purpose of the export of meat and by-products.

The proposals are: To secure the Teturn of surplus profits to the producers; to prevent the acquisition or control of the industry either by local or foreign vested interests; to control the industry and organise the receiving, killing, preparation, and shipment of stock and other agricultural produce.

Provision is made for maintenance and control by (he stock owners of the Dominion, the constitution to be somewhat on the lines of harbour boards or tho Meat Producers' Board.

A central board of 10 is suggested, five from each Island, representing district boards.

I? is proposed to set up a. valuation commission of three members, one appointed by the freezing companies' associations, one by the Meat Producers' Board, ..and the third to be appointed by the other two. It is variously estimated that the valuation of properties used in the conduct, of the freezing business in the Dominion ranges from £7,500,000 to £10,000,000.

The scheme has -been tentatively opproved and a committee set up to Hake evidence, obtain expert legal and financial advice, and prepare a report for a further meeting to be held later.