Waitara Freezing Works.

Opunake Times, Volume V, Issue 232, 24 November 1896, Page 3

Waitara Freezing Works.

A meeting, convened by circular, was held at the Hawera Borough Chambers on Friday for tbe purpose of endeavoring to assist the Waitara Freezing Company. Among those present were Messrs E. W. Foreman (voted to the chair), Bobertson (2), Davidson), T. Elliott, Winks, Monkhouse, Blair, Black, Eobbins, Godkin, Livington, A. Corrie, Lambie. Macrae, Godsal, Lysaght, G. Bayly, Campbell, Hine, Walter Wilson. Mr Hine, Chairman of Directors of the Company, explained that of the £3OOO purchase money for the works a little over £IOOO was raised, another £IOOO was due in January 1897, and the balance in January 1898. 1897 was rapidly approaching, and the question was what was to be done. It was rumored that the New Plymouth company, believing that the Waitara Company could not make its payments, was prepared to parohase the Waitara works, and shut them up, in the interest of the New Plymouth works, believing, as was no dpubt the case, that the £2OO a year'could be easily made up by the increased trade and the ababsence of competition at Waitara. It was also reported that combination among the meat freezing companies would assist in keeping the Waitara works closed, but while that might suit the companies and buyers of stock it would hardly suit the farmers. Therefore the matter was laid before the meeting. The proposition was to get a several guarantee enabling the directors to raise money at the bank and pay off the Assets Company, and take over the punts, &c. They asked for at least 25 guarantors of £IOO each, but hoped to get more, as the liability would then be reduced. Twelve persons had signed. The guarantors would be giyen a mortgage over the works, but the mortgage would remain at the bank as collateral security. The risk to guarantors was virtually nil, but in this way the works would be secured to the farmers of Taranaki. Mr Hine read letters of sympathy from Messrs Budge and Good, and Mr Walter Symes, and reported verbal offer from Mr Fantham. Messrs Budge and Good gave figures showing the advantage Waitara works had been. Mr Bluck, of Waitara, also spoke. A general conversation ensued, in which several took part, Mr Walter Wilson stating that a very good authority, Mr R. Stevens, had told him that last year's farmers here were getting 2s a head more for their sheep than persons south of Wangauui, which he attributed to the Waitara works. A number of signatures were added to the list, and an adjournment took place until the afternoon, for the convenience of others. At the adjourned meeting several other gentlemen were present, and the only fresh matter which arose was that in the course of explanation. It seemed that the punts which cost £I7OO were in the hands of Mr Halloran, and that in addition to the payment he had made, there was still £7OO due. One or two gentlemen said they had been under the impression that £SOO was to have been the total cost.

During discussion it was stated that it was expected by Mr Halloran that the result of Mr Peck's process would be to put £2 10s on the value of every beef carcase. After a good deal of discussion, in which the whole subject of the company and Mr Halloran's lease wa3 gone into in detail, Mr Davidson said the position was that the £2OOO must be found or the mouey already subscribed by shareholders must be lost; and this guarantee would secure to the people of the distiiot the ownership of the works. They could then be either closed or kept open according to the market. At the conclusion of the meeting twenty names wero on the guarantee list.—Star.