PATEA MEAT WORKS.

Taranaki Herald, Volume LXII, Issue 144328, 17 February 1914, Page 4

PATEA MEAT WORKS.

POSITION CREATED BY THE FIRE.

A full mc-oting of directors of tho Patoa Fanners’ Co-operative Meat Freezing Company was held at Patea on Saturday, Mr. VC PowdroU presiding. It was unanimously decided to call public meetings in Patea, Wavcrloj and Ilawera to consider tho company’s position as a result of tho recent fire. Tho directors considered the now works would cost at least £6009 in brick m* concrete, ami a now plant not less than £2OOO. All tho insurance receivable would bo £2500 on tno onilding and £1440 on the plant, alter deducting tho value of the plant saved. In addition to tin’s there lias to ho provided a sum of £ISOO expended out of tho company’s working account in alterations to tho works completed on December 4 last.

The directors unanimously agreed to place tho position before tho farmers on tins coast, urging them to take up tho necessary shares to enable the works to bo re-sUrtcd as soon as possible. In tho event of insufficient support being forthcoming, the directors unanimously decided to recommend that ihe company go into liquidation. The directors considered that- it would bo a groat calamity to South Taranaki if the works w6ro allowed to be closed up. The harbour loan having been carried, there is fair reason to believe that there will bo an improvement to iho port by the time the new works are erected; sufficient, at all events, to ensure steady shipping; and when onco this is established, and boats can come in and depart regularly, there will bo a very big saving to tl\o company in freights alone. Notwithstanding iho extra cast of railage last year, amounting to approximately £IOO a month, the company made a profit of £1790, and under proper conditions, such ns regular shipping and up-to-date works, this should bo easily doubled.

Reference was made lo the general drop in the value of stock since tho fire, and also to the fact that practically no stock could bo got away from tho district, as all the neighbouring freezing works were full. They wero able to got ali they required alongside their works, and consequently wore not inclined to pay railage.—Hawera Star.