FREEZING MERGER

Poverty Bay Herald, Volume LX, Issue 18255, 25 November 1933, Page 4

FREEZING MERGER

RESULTS SATISFACTORY ALL DOtP.TR DISSOLVED £12,000 SAVED TO DISTRICT Commenting on the results of the merger into which the Gisborne farmers’ Frozen Meat and Mercantile Company, Limited, entered last season with Nelson's (N.Z.J Limited, with the object of reducing costs and improving the general outlook of the industry in this district, the chairman of the first-mentioned company, Mr. fL B. Williams, stated at the annual meeting of shareholders to-day that doubts of the success of the merger had been dissolved as a result of the past year’s operations. “Whilst on the freezing side of your business, 1 would like to state that any shareholders who had any doubts of the success of the merger must now be satisfied that it was the only possible solution to the difficulties wo were previously faced with, stated Mr. Williams. "Apart from the ability to handle all vour stock at a .much lower freezing rate than was ever before thought of in the district, its success is shown in the balance sheet which is now before you. “Apart from the rcsjilts siiuwn in the balance. sheet, the merger - wil n Nelsons’ (N.Z.), Limited, in t-hc Kail i works has enabled the partnership to reduce freezing charges this year to the extent- of £12,000, which, moans Ui.at Giis eniount is ft saving to the meat and butter producers of the district'. ’ ’

CHARGES AT TOKOMARU BAY. In another portion of his review ol the past season and prospects tor the future, Mr. Williams paid attention to the mutter of freezing charges at the Tokotnaru Bay works. His comments on this subject were as under: “Vour directors have spent much time on the question of lhe Tokomaru Bay freezing rates, and in order to maintain a profitable turnover have decided to reduce those rates to bring them more in line with Kniti. .Shareholders and others who freeze at. Tokoenaru Bay must realise what this means to them, and it is to he hoped that they will reciprocate by freezing all their fats instead of selling them for freezing in other districts. Even if you sell, you can sell subject to the fats being frozen at your own works. ’•