CHRISTCHURCH MEAT COMPANY.

Timaru Herald, Volume XIIC, Issue 13838, 25 February 1909, Page 7

CHRISTCHURCH MEAT COMPANY.

- THE ANNUAL MEETING. A few days ago we published the principal figures m the annual report and balance sheet of the Christehurch Meat Company, showing a balance to credit of profit and loss (after paying an interim dividend of 4 per cent., absorbing £6586) of £27,997. From this the directors proposed to pay a further dividend of 4 per cent, (making 8 per cent, for the year), to write off £7OOO for depreciation, add £SOOO to reserves, and carry forward the balance £9381. At the annual meeting, held at Christehurch on Tuesday, the chairman Mr F. de C. Malet, reviewed the contents of the report and balance sheet at some length, and then proceeded to make some remarks on the course of the frozen meat trade generally throughout the year, and on the future prospects of the trade. The following are a few extracts from these remarks: — '■ It cannot be said that the past vear was in any way a favourable one for the conduct of such operations as those in which this company is engaged. In fact, in many respects, it has probably been the most unfavourable season experienced for many years. As will be • seen from the report, the volume of business which the company has transacted has suffered very materially, the total number of stock put through tbs various works having decreased by no less than 416,293 carcases as compared with the total for 1907. This is a very serious shrinkage, but, at.any rate, the company received its full share of what business was available, and a proportionate shortage was . experienced by all factories in the South Island. In any case, it must not be forgotten that the total stock killed in 1907 was much the largest dealt with in any one year. Of the 1.052.638 carcases dealt with for export. 607,705 were frozen on owners' account and 444.938 on the Company's M'-f-ovnt. It was well recognised that the Company's purchasing operations, especially in years gone by, when the trade was more or less in its infancy, were a considerable factor in maintaining a high level of prices to the

I benefit Of the farmers. Attention was drawn to the rapid increase in the export of lambs from the North Island — ovvr a million last year and likely to be a million and a quarter this year, a fact which must have a considerable bearing on the lamb trade of Canterburv, whose export last year was 1,202*000. In view of the rapid increase in the lamb exports from the North Island, Australia and the Argentine, it is obviously of the utmost importance that every effort should be made bv Canterbury stockowners to continue' to produce that high standard of quality which has in the past earned the excellent reputation which Canterbury enjoys on. the Home markets. Unless that is done, it would seem unreasonable to expect that our Canterbury lamb can long maintain the premium which it fortunately still commands." The report was unanimously adopted. Mr Malet was re-elected a director, and Mr AVigram was elected in place of Mr J. Roberts, resigned.