GEAR MEAT COMPANY.

New Zealand Mail, Issue 992, 6 March 1891, Page 32

GEAR MEAT COMPANY.

A number of Wellington merchants and settlers interested in the Gear Meat Preserving and Freezing Company accepted the invitation of the Directors to a gathering held at the works on Saturday afternoon, _to commemorate the opening of a new portion of the building. The guests left the city by a special train at 1.40 p.m., and_ on arriving at Petone sat down to an admirable spread supplied by Mr James Godber. About 130 were present, and the chair was occupied by Mr Nicholas Reid, chairman of the Company, who was supported on his right by the Hon

W. P. Reeves and Mr T. K. Macdonald, AI.H.R,, and on his left by Mr John Duthie, M.H.R. At the conclusion of the luncheon, the Hon W. P. Reeves said that he had been asked to propose the only toast of the day, on the ground possibly that he was the most ignorant man in the room of tho technicalities of the frozen meat trade. Business men, however, did wisely to bring politicians to such gatherings and enlighten their ignorance. The toast he had to propose was ‘ ‘ The heath of our hosts, and success to the Gear Meat Company.” There was no need to sing the praißes of the Company, as it was only necessary to look around them to appreciate the extent of the enterprise, whioh was known not only in Wellington but from one end of the Colony to the other. He could not speak as a resident of Wellington, but he remembered what was said about the Gear Company when it was first started. People outside had prophesied that under company management it must come to grief, but it was quite evident that this prediction had been falsified. Tho reason of their success, ho considered, was due to the exceptional ability shown in tho management of every department. Another reason was that the locality of tho works was happily chosen, and he held that the southern half of tho North Island was the grazing paradise of New Zealand. Eighteen years ago Wellington was an isolated spot, but since then tho railways had, as his friend Mr Pyke would say, “ got over the garden wall.” Wellington was, in fact, the only natural port and oommoroial centre of the southern half of the North Island, and to develop these advantages they wanted only prudence and energy. These qualities had been shown by tho Directors in the past, and there was no reason to doubt that they would be shown in the future. Groat as aa had been the success of tho frozen meat industry up to now, it was still in its infancy, and it was impossible to say how great a future was in store, lie would ooncludo by requesting

them to drink the toast he had proposed (Applause.) The toast having been duly honoured, the Chairman said ho would not detain them by delivering a long bpeecb, especially as Dr Newman was also to respond. No better proof of the success of the company could be yiven, than the fact that it had returned 82 per cent, of the capital,, and had plneod to reservo 50 per cent. The company indeed, held a position that was absolutely unique in the colony. The past success was due to the manner in which the different parts of the concern had been managed. Dr Newman, M.H.R., said that so long aa Mr Reid was able to declare a 10 per cent, dividend, and a 2J per cent, bonus, he could not fail to be a popular man. Some years ago he (Dr Newman) remembered that he had asked one of the Ministers to grant concessions to the Gear Company and was told that a little concern like the Wellington one could not expect the same consideration as the largo companies in Christchurch. He was glad to learn from Mr Reeves speech that the Company was now large enough to ask concessions from the Government. A good deal had been said about competition. All he oould say on that point was that tho Gear Company was quite prepared to meet any competition that might arise, and, if necessary, reductions oould be made in the working expenses which would not interfere with the dividends. For example, a great saving would be made by taking in coal at Petone, so as to avoid extra handling, and he hoped that before long the frozen meat would be shipped direct from the Company s own wharf. He put it to Captain Babot, who waa present, whether it would not (be better to ship 10,000 sheep from_ Petone than to send a steamer up to Waxtara for 5000. (Applause.) j The company then separated, and a very ) pleasant time was spent in the inspection of I the various works, admiration being om*

versally expressed at the completeness of the arrangements. The visitors returned to town at about a quarter past five, having spent a very pleasant time in spite of the fact that tho weather was not so favourable as could have been wished.