FREEZING COMPANIES' PROFITS.

Taranaki Daily News, Volume XXXXII, Issue 192, 25 August 1900, Page 2

FREEZING COMPANIES' PROFITS.

PBU I'UESS ASSOCIATION. Wellington, August 24. At the annual meeting of the Refrigerating Company, at Dunedin, Mr. John Roberts, referring to the Bill to limit such companies profits, said:- " Losses are not unfrequently made in such businesses. It seems rather strange that as soon as an exceptionally profitable year come?, legislation should at onoe be introduced to deprive shareholders of the profits they are well entitled to. I see in this movement an endeavour is made to establish a ""«* extraordinary precedent, and if the wishes of the mover be acceded to, then the sooner *e call on the State to run all commercial enterprises the better. If suoh interferences as is proposed is actually carried out, why not include all limited Companies, no matter what may ba the nature ot their business ? Then, if the State is to interfere in controlling a company when the profits are excessive, it should also be called upon to make some provision for limiting losses when made, and how can this be done ? The proposition made seems to me to be so strange that I oan hardly believe that it is meant seriously. The formation of rings is, no doubt, undesirable, and if it is indulged in, discord must ensue,but I oan hardly believe that the Wellington Companies, against whom legislation seems mainly directed, can have formed any ftie establishment of State freezing works would, judging from experience of some of the Australian Colonies, only result in demonstrating that- the State oannot compete with the private enterprises in the freezing business." |