THE MEAT BUSINESS.

Otago Witness, Issue 3314, 19 September 1917, Page 11

THE MEAT BUSINESS.

FREEZING COMPANIES OF THE NORTH. The first report of the Taranaki Farmers' Meat Company is now availablo, and it states that slaughtering operations were commenced on January 8, 1917, the quantity of stock treated being %s follows: — 22,445 (sheep, 12,505 lambs, 6266 cattle. The difficulties inseparable from the commencement of a new business, combined with the high prices ruling for fat stock and the scarcity of shipping, have compelled the company to show a small loss on the first season's operations. The establishment of the- company, however, has already proved of groat benefit to the district, and with the initial difficulties overcome, the directors consider that the prospects of- the company are cxccillent. Before the works were completed, the directors, realising the need for additional cold istorage, * decided to increase the original capacity by 50 per cent., and this proved of great benefit, not only to the fat stock producers, but to the dairying industry as well. A further add' tion is now necessary to enable the works to carry on through next season, and the directors earnestly hope that shareholders will provide sufficient capital to-enable this -to bo put in hand without delay. PATEA FARMERS' FREEZING COMPANY. The animal report of the Patea. Farmers' Freezing Company stated that although the quantity of stock treated shows a considerable decrease, tho freezing stores are almost full at present, owing to tho [shortage of shipping. Particulars of killings are as under, the figures for 1916 appearing in parentheses: —Season ended July, 1917: Cattle, 8450 (10,572), decrease 2122; calves, 1530 (2554), 1054; sheep and lambs, 28,341 (43,794), 15,453. The profit and loss account, after providing tho ;sum of £1559 6s 3d for depreciation, amounts to £5..4 0s lid, making tho total for appropriation £14,723 8s 9d. The severe competition the company were up against in the commencement of new works at Wanganui and Taranaki was referred to by tho chairman of directors, sheep and lambs showing a decrease of 15,453. The company had bought the farmers' and had £IO.OOO worth of veal in their store at the present time. Owing to under-capitalisation, the company were very severely handicapped in the matter of competition, and in the absence of a fellmongery, and not having monoy to build one, the company had to dispose of their pelts to those works that had o pickling plant. Last year they lost 3s to 4s on each sheep and lamb from that cause alone. The directors decided to erect a new follmongerv, and this would probablv cost between £2OOO and £4OOO. .They hoped to have the new machinery for it before the new season arrived. With this in operation, they would bo able to compete with other

works. The report and balance sheet were adopted. A circular has been issued to shareholders asking for £SOOO additional capital to provide capacity for an additional 30,000 carcases.