THE SOUTHLAND FROZEN MEAT COMPANY.

Otago Witness, Issue 2086, 15 February 1894, Page 12

THE SOUTHLAND FROZEN MEAT COMPANY.

The directors of the Southland Frozen Meat Company in their report state that " the results of the past year's operations are by no means satisfactory, an experience which has unfortunately been common to most of the freezing companies in New Zealand. The Ocean Beach works were in very artive competition with this company for stock during the whole of last year, and prices were raised to a level which caused a loss to this company. Aa is well known, we were under contract to supply meat at a fixed rate to Messrs Nelson Brothers, that firm taking the whole of our output. The same firm took the whole of the output of the Ocean Beach works, and.it was understood that only the same rate was paid to that company. Your directors naturally expected that, under these circumstances, both works selling at the same price to the same contractor, prices would be regulated accordingly • but experience proved that prices had to be paid out of proportion to the price received, and the alternative of either shutting down or competing for our own trade — a trade which had been secured by years of hard work and struggle— had to be faced. Your directors considered that under the circumstances to shut down was to accept defeat, and such a policy in their opinion would have been disastrous to the shareholders. The alternative of holding our own and fighting the battle which was forced upon us was a plain duty. The circumstances connected with the struggle are now co well known that it is not necessary to repeat them here ; suffice tit to say that the company has been carried through very great difficulties into a firstclass position, mainly owing to the assistance of the New Zealand and Turnbull-Martin Shipping Companies. These companies have largely subscribed for shares, and, between them, have taken 4000, equal to £20,000. These firms are represented on the" directory. They appoint two directors ; and two new lines of frozen meat steamers are added to the already increasing fleets of vessels calling at the Bluff."