SOUTH OTAGO FREEZING COMPANY

Otago Witness, Issue 3205, 18 August 1915, Page 14

SOUTH OTAGO FREEZING COMPANY

PROPOSED ADDITIONS TO WORKS. An extraordinary general meeting of shareholders of the South Otago Freezing Company (Ltd.) was held at Balclutha on the 6th to consider the passing of a resolution authorising the directors to carry out additions to ttio works at Fincgand, to provide additional insulated space and addition to the works to allow for killing an additional 1000 sheep per day, etc. There wore over 100 sharcholdeis present, and Mr James Begg occupied the chair. The Chairman said that all knew that this season just closing had been unsatisfactory because of the shortage of shipping, and there were some farmers who had stock for freezing, but they could not get it killed and frozen at the local works on account of the shoitage of storing space. The directors did the best that they could under the circumstances. The trouble was now over for the present season, but if the war continued the trouble would crop up again next year. There wore no new ships being built, and it was very difficult to get more ships with insulating space. The directors had got estimates of the cost of making storage capacity at the Finegand works for increasing the capacity to deal with 2000 sheep per day, or making storage space for an additional 80,000 mutton and lamb cafcascs. Mr Bogg proceeded to read this estimate, which was : Additional buddings, £18,953; plant, removal, etc., £9898; —total, £23,831. If the .shareholders decided to authorise the additions the question of financing the £28.000 would have to be settled. The shareholders must agree to subscribe the money, because the directors would not undertake to borrow the amount. They had sufficient to do to moot the existing overdraft. Mr Bcgg also explained that the directors did not want to force this proposal on the shareholders. The company would have to get a duplication of engine-power, because at present there was only one engine at the works, and m the case of ia breakdown the company would have to send all the meat away to some other works to avoid it being spoilt.

A general discussion followed, shiroho’dors disclosing a lively interest in the proposal, and a noticeable point in the discussion was tha.t the older farmers advised caution. The chairman, in reply to questions, said it was estimated that with the additions there would bo capacity at the works for killing, freezing, and storing about 165,000 carcases c.f sheep and lambs in a season. Relying on South Otago alone, if the works received on an average 2000 sheep nor day, there would be enough stock m the district to keep the works going for a three months’ season. To date, for the present season, about 103,000 sheep and Jambs and 4000 head of cattle bad b-ron treated. There was a lot of stock gomg out of the district because the company had not a sufficient capacity for it all. Mr T. A. Johnston moved that the question bo postponed for 12 months. Tnorc was only a small proportion of the shareholders present, and he questioned very much if they would find the necessary money for the work. Mr J. Edwards seconded the motion. Mr Roulston moved an amendment that the kilims and storage capacity at the works he increased. He said he would bo willing to double his shares. There was no seconder to this. Mr Christie moved an amendment that consideration bo postponed for a month, and in the meantime an active canvass be made to see how much money could bo raised. The amendment was seconded bv Mr J. Smith (Hillend). On Mr J. E.- Thom nson’s suggestion. Mr Christie agreed to add to his amendment that the secretary he instructed to send a circular to all shareholders asking if they were agreeable to take up more shares. The amendment was carried unanimously.