INCREASE IN FREEZING COMPANIES.

Otago Witness, Issue 3205, 18 August 1915, Page 13

INCREASE IN FREEZING COMPANIES.

In the course of his remarks at the annual meeting' of the Wellington Meat Export Company on the 10th inst., the chairman (Mr W. G. Foster) referred to the increase in the number of freezing companies in New Zealand. “ Shareholders 'will havenot’ced.’’ he said, “the increasing number of freezing companies registered and in course of formation in both islands. Beyond' a certain point this is regrettable. The farmer desires to bo relieved of _ his fat stock promptly on their becoming marketably ready, and is pressing for more and more works to achieve his purpose. He is quite ready to provide his share of capital necessary, especially also in the hope that ‘ more works’ means ‘more competition.’ One thing, however, is not sufficiently taken into account, and it is the chief, factor in the profit and loss account. It is obvious that more works and greater freezing power will result in greater daily operations, and a need for greater and more frequent relief by shipping. The more rapid export will, of course, result in a similarly more rapid delivery at British ports at a time when all the principal supplying countries—South America, Australia, Now Zealand, and shortly South Africa—arc pouring in their year’s harvest of meat. During several years past the markets have felt the pressure, and prices have declined during the period of the arrivals of our harvest export, and no effort, combined or individual, could resist such decline, when stores become con-

gested and ships unable to discharge. Each year for some time past British storage during the rush time has proved totally inadequate, and there are no indications of materia! extension in the near future. “ Obviously, to prevent disaster, increased storage capacity must be provided at one end or another, and your directors have now in hand the erection of storage for a further 100,000 carcases at Ngahauranga.”