FROZEN MEAT TRADE.

Timaru Herald, Volume LXXXI, Issue 12582, 20 January 1905, Page 3

FROZEN MEAT TRADE.

A DEARTH OP STOCK. The itwenty-third report and balance sheet of the Canterbury Frozen Meat Company to b& to cthe shareholders at the: annua,]; gerieral .meeting, on'Jsinuafy states'that- the directors very much regret that for -the first-time in the history 'of the Company, the figures: sliow a losa.on the freezing operations' for the year, Hrbieh loss together-wit-h the interim dividend paid in June last'Sainqupting' to : £3,927 6s"ld, leaves;a total' at debit'of profit and loss'account (of £6,Q92.6s Bd. This result is attributable to the unforeseen diminution :of stcjck in. Canterbury, slaughtering .opera-< tio;nf at Belfast-and Fairfield having diminished ;by one third. The 'figures _are : —Eor the year ending-SOttoNovember, 1903, .950,-/ 741 hSad ; for 1904, 608,404 head ; decrease, 342,337 head ; ; or at the ; rate of 36 per cent; the decrease m stocii: . slaughtered';for ing. lias been, at Belfast, 132,925 sheep arid 76;95i lamb^; at Fairfield, 69,012 sheep, and 26,060-limbs;/total, 201,937 sheep, and 103,011 lambs. There is also a decrease of 2§,250 head ,■ of sieep, cattle, - and .pigs sfaiightered* "for local-consumption, owing to 'he establishment cf the local abattoirs. The onening of the Pareora was -ielaved beyond- tie : time expected, owing, to the late arrival of some important machinery ; -they, however, were sufficiently idvqnced t'6 peimit of their being officially opened on the 7th of April; 94,204 sheep and lambs .were slaughtered there before the works -were closed fpr the season. .. FINANCIAL PAPER'S COMMENT. ■ • Referring' to, this report, the " Mercantile . Gazette", says.:—Although the.' past year's operations show a loss of £2000; •which is very much to be regretted, it sho-uld be noted that this result is to\ a great" extent due to circumstances beyond • he,' directors' control.' The Pareora works started late in the season, and could not be to make a very good showing, ,but they will do much better this season. Then again, the keen competition for sheep "results in money that might 2o towards dividends being, distributed in the country. in other ways. . The outr standing ./"'fact of the repprfc..' j is, 'the decrease in the numbers of marketable sh ! eep, ?r ahd f this is really .more serious fof the country generally than for this, particular Company. It_.,is : to be hoped that those interested will take more thought:forthe fiiture of the industry, and be content to see present returns shrink a v littjle, in order to keep the maiden ewes in the l country', and establish the -trade on a,-more stable footing. As to this particular loss, w& do not thiiikjit is a very serious matter. -Qtier companies have made losses much greater than this, but the experience has enabled them to avoid causes of -loss, apd they have generally showh a good pro-. fit the-year. after.:. The present, season, is,., so far, a favourable one, and we expect the Company to make a strong recovery. . - j