COLONIAL C. AND D. COMPANY

Otago Daily Times, Issue 14382, 27 November 1908, Page 10

COLONIAL C. AND D. COMPANY

INCREASE IN NEW ZEALAND FLOCKS. , (From Our Own Correspondent.) LONDON, October' 16'. On Tuesday, at the offices of til© Colonial Consignment and Distributing. Company, M Dowgato llill, the ordinary general meeting was iield, Sir Westby Perceval being in 'the'chair. j : .Sir Westby Pcreeval mentioned (hat the company's chairman (Sir E. Montague Nelson) was detained in Paris/at the Ho-, frigerating Industries Conference. .He then referred with regret to the unexpected, death of Mr F. M. Nelson'; it would bo a serious • los; to tho company. It was gratifying t<j note that the year had boon a very satisfactory one. They had been able .to pay k dividend of 6 per -cent, on the preference shares and the same amount on. the ordinary shares, as.well as making increased N provision for bad and doubtful debts. He; then >vent on to remark that reference was made in the directors' report lo the fact that the total importations of frozen meat into the United Kingdom during 1907, exceeded those of any previous year. It ..might be of interest io mention the figures:—There were received 10,149,945' carcases of mutton and lamb and 1,614 350 quarters of beef from Australasia and fcoufh America. ' TJicso figures showed an increase of 1,350,543 carcases of mutton and: lamb, and 164,665 quarters of beef over' tho, imports of the preceding year. It could hardly be expected that progress would be maintained at tlat' rapid rate, and during the current yeai the exports from New Zealand had fallen off to some extent, and there had ako been a .decline in Ihe export of mutton from Australasia; but, on tho, other hand, tho business from South 'America was steadily increasing, and iliorc had been not only a material increase in tho shipments of mutton from that quarter, but a remark. able development in the output of beef. During the past summer there were two or threo attempts to create a scare regarding a shortage in the meat -s'ipply. It was quite true there had been,.", serious fallingolf in tho importation of chilled beef from the 'United State?, but,., important as tho factor was, the question of short supplies from that country was presented in its proper proportion,'i when it was pointed out thai .chilled beef from North America only represented 23 per cent, of the total importations of refrigerated meat in 1907, and there, did'not seem to have been any real ground for anxiety on tho part of the consumii ,g public. For, in . addition to frozen meat, South. America had, embarked largely in the trade in nhillcd beef, and shipments from tho Argentine were not only steadily ' increasing iu quantity, but also improving in quality,, ami the shortage of 901,000cwi from the United States .during this' year had. already' att (.•acted an increase of 361.000cv.-t from South America, and the exports from the-latter country were i likely to shov; an even greater development in the near future. Moreover, it must bo borne in mind that during the last few. years the results of the great Australian drought had .still been felt in Queensland, and practically' no lyjef had been arriving nn this market from tliat country. The Queensland herds were being rapidly replenished, and in.. ,a very short' time it might be confidently anticipated that the output of Queensland beef was likely to exceed its previous rccord of over 500,000cwl in 1599. 'Even, therefore, if the export of chilled beef from North America should fall to quite insignificant quantities, or should disappear altogether—as appeared to be expected by some people,—there were no , grounds for supposing that hardship would be suffered by tho consuming classes in this country. A committee has' bcc-n • appointed by tho Government, proceeded "Sir Westby, . to discover how far the meat supply ! of this country " is affected by any combinaJion of firms or ' companies"; and' although the terms of the reference were perhaps a little ambiguous, it was beyond question that, so far as the colonial- frozen meat was concerned, the market was • absolutely unrestricted by any approach to combinations or trusts, and " t that the retail trade and the public received to the fullest degree the advantages of unlimited competition. 'It might be, perhaps, a little bottwr for the company if that were not quite so. With regard to the prospects for the current. year, the • Chairman said the meat trade had always been a particularly, dangerous one in which to indulge in forecasts,' At the present time the business being done by the company was on a very satisfactory scale. The Australian lambing season lihd been fail','but probably below the average; the flocks of sheep, ■however, had been steadily increasing for some time past, and tho export of 1909 was likely to show further development. The New Zealand flocltfi' also recorded an increase, and there' was no reason' to suppose that tho export next year would fall below that of 1908. It was impossible to make prognostications regarding the Home market. At the moment the outlook was somewhat clouded by the strike, of cotton operatives, and he regretted to say by the anticipations of keen depression during the coming winter. Should the former continue for any length of time the effect on the northern markets was bound to extend to other centres, and it might be pointed out that tho frozen meat trade, appealing as it did to the poorer clas3 of consumers, furnished, a valuable and certain indication of the industrial conditions throughout the country. It was hoped that bv means of tho Paris, Congress that the seed there sown might lead eventually to tho permanent introduction of frozen meat to the Continent. This could only bo achieved by fostering public opinion in the direction of the removal of the barriers whicji at present, restricted the trade. It was hoped that the interest taken in the congress would result in this. Attempts had been made on numberless occasions to enlarge the markets'for frozen ment, but' hitherto success had been deharred by the harassing restrictions enforced by the Contincjital Governments almost without exception. He concluded' by moving tlie adoption of the report and the declaration of a dividend at the rate of 6 per cent. The'motion was seconded, by Mr E. T. Doxat, and carried unanimously. Messrs Byass and Thomson were reelected, as directors. Hearty votes of thanks to the board brought the proceedings.to a elcse.