Taranaki Herald. (DAILY EVENING.) MONDAY, AUGUST 28, 1911. MOTUROA FREEZING CO.

Taranaki Herald, Volume LIX, Issue 143587, 28 August 1911, Page 2

Taranaki Herald. (DAILY EVENING.) MONDAY, AUGUST 28, 1911. MOTUROA FREEZING CO.

Although the exceptionally dry summer and autumn experienced this year to some extent affected the balance sheet of the Taranaki Producers’- Freezing Works Company, the chairman had yet a very pleasant task to perform on Saturday in moving the adoption of the report and balance sheet. Since the re-building of the works after the fire seven ayears ago the company has had an uninterrupted run of prosperity, and today the splendid • works stand encumbered only with a nominal bank overdraft. Everything has been paid for out of earnings, without the shareholding companies having to contribute any capital at all. The whole of the capital required was found by the company's bankers, on the security of the works and the shareholding companies’ guarantees. The works cost, if we remember

rightly, about £16,000 or £IT,000, and at the end of June last the amount owing to the bank was only £llß6, while the works were standing in the books of the company at the same date at £12,691. Ample depreciation has been written off each year, and the plant and buildings have been maintained in first-class order. At the same time the cost of freezing butter lias been reduced from sevenpenee per box to fourpcnce. But for the««bnormally dry weather last season, the profits would probably have reduced the hank overdraft almost to vanishing point. However, the works are a striking evidence of the value, of the co-operative system. Of course, such a result could not have been achieved without good management, and it is’due to those who have had the management for the past seven years that they should receive fitting credit. The shareholding companies, indeed the whole dairying industry of the district, owes a very great debt of gratitude to Mr. J. B. Connett, who was chairman of directors for several years, to M,r, Arthur Morton, who succeeded him and is now chairman, and in a lesser degree to the other directors, for 1 heir devotion to tho company’s interests. In Mr. J. S. M’Kellar, the secretary, and Mr. J). K. Morrison, the manager,-the company has officers of rare value, whose services are worth far more than they cost the company. The works are in every respect a model. The directors are, we think, pursuing a wise policy in taking steps to enlarge the works in order to be prepared to handle a considerably larger quantity of butter and cheese during the coming season. With normal weather conditions the output ought to show a marked increase over Forth Taranaki, while, the low cost of freezing, combined wtih absolute freedom from delay in shipping, may have the effect of bringing produce from a wider area. Even if there is no increase from the latter cause during the coming season, it is certain that in the near future, when the Hume liners come to Moturoa for butter and cheese, instead of having it sent to them at Wellington, practically life whole • product of the province, will be. handled at .Moturoa. Then the works will

have to be much larger than they are now. With regard to the pork business, if anticipations are realised this is likely to grow to such proportions in a few years that entirely separate works, for killing and freezing, modem works where, as they say in Chicago, everything but the squeal will be utilised and turned into money, will become a necessity. In-tKe meantime the company can do much to foster this branch of the dairying industry by undertaking for the farmers the freezing and shipping of their pigs. For the present the industry is to be heartily congratulated upon possessing so valuable an asset as the Moturoa freezing works.