THE MEAT TRADE AND SOUTH AFRICA.

Otago Witness, Issue 2509, 16 April 1902, Page 10

THE MEAT TRADE AND SOUTH AFRICA.

A NEW COMPANY. (Fe©m Ouk Owx Correspondent.) LONDON, Maich 6. With the object of acquiring and extending to New Zealand and Australia tho business of the South African and Cold Storage Company, a company has this week been formed under the title of the South African and Australasian Supply and Cold Storage Company. The? share capital is fixed at £1,150,000 in 150,000 7 per cent, cumulative piefercnce and v million ordinary shares both of £1 each, and there is 5 per ceut. first mortgage debenture stock amounting to £350,000. I understand that the company is to provide for the various centres throughout South Africa a direct and regular supply of fre^h and frozen meat, food stuffs, live stock for breeding and slaughter, and carry on the business of cold storage proprietors. It is intended immediately to establish agencies or branches at Melbourne, Sydney, Brisbane, Wellington, Auckland, and Canterbury, and the products from these colonies will receive preferential treatment us regards imported supplies, on which the directors believe South Africa will have to depend for many years to come owing to the lofs of cattle by the war and rinderpest. The South African Cold Storage Company was formed in 1899, and it i< stated that there are now comparatively few impoitant centres from Delagoa Bay to Capetown where its trade interests aro not established on a firm basis. The company's a^oU to bo taken over by the new company arc valued al £750,000, and thp goodwill and benefit of contract- are put at £250,000. It i., certified that tho profits of the year ended June last, exclusive of War Office contracts and extraneous source* of income, were moie than Mxfficient to pay the interest on the present ii-Mie of debenture stock, the preference dividend and 15 per cent, on tho ordinary. The purchase price is £1,000,000. The board con-uts of Sir Echvyn Dawe* (chairman) — it will be remembered that Sir Edwyn is chairman al-o of the Now Zealand Shipping Company; Mr C. S Dickon (formerly acting-Agcnt-gencral for Quc c n-land) : Lieutenant-general Sir Forc-tKr Walk.-r: and Mr Wm. Weddel (of Mr-i- Wcdc'o! and Co) Tho following are thf> --ii.trr'- held by the signatories.: — Sir Eduyn Dane-, 10.000: Sir F. Walker, 2000; Mr "W. Wrddr-!, 5000; Mr C S. Dicken, 1000; Mr H. A gar Mellon 10,000; Mr E. \Vilham.-on, 250'J ; and Mr W. Murray 2500. March 7. " You may look for son-ational developments m regard to the South Afr can and Au-ti'rflasian Simply and Cold Storage Com pany," -aid a city friend to me this after noon: he is clo-ely connected with the New Zealand trade, and is well ver^pd in the affairs of the new company, the formation of which T refer to e!«cwhrre. ' f '- it foi mcfl in opposition to tl-p com ptny winch has -coined the Birgl contract?" 1 ,<-ko'' " Ir i, the old company that had thp o'.d rnntiacl," v.i-. tin rcplv "But it will bo in coinp- tition with t'io o-npitnv yon Ivtve oajgedj ho v\ ever, 'liio jdmx&j lu\e been

applied for six times over, no less than! £460,000 being from the Cape alone. You; may be sure that with the names included in the directorate New Zealand interests wilß be well looked after! And it should be remembered that ' cold storage ' is only a subsidiary feature— it will be a meat company; on a very large scale."