FREEZING INDUSTRY

Timaru Herald, Issue 170299, 18 August 1920, Page 7

FREEZING INDUSTRY

THE AMERICAN LICENSE QUESTION., - Per Press Association.

WELLINGTON, August 17.I 7 . The Wellington Meat Export Company declared a dividend of 10 per cent for mo year (including 2- per cent bonus)' and added. £I3,UuU to reserves. The. chairman, Mr Clias. Elgar, said the Government., the banks, and the freezing companies were niakiug arrangements to finance the next season's business, but the real problem was the sale of the produce. He regretted that the preseut state of the trade was being used as a lever to let in big American packers. . He denied that America offered an unlimited market for our meat America would -take New Zealand lamb; but London could deal with all our lamb. The accainula ted stocks at Home were mostly mutton and beef. No practical benefit could be obtained by allowing the American stock buying organisations to obtain a footing in New Zealand. There were plenty of freezing works in New Zealand now to deal with a year's output in two months, if they were kept fully employed. The suggestion that use could be made of the American monopoly in this respect was mentioned. "It is one tiling to make use of a monopoly, and quite another thing to have it make use of you." There was of course no objection to auy company buying from the freezing works, and by selling c.i.f. as in the past producers would be benefitting themselves, but to give a monopoly the license asked for would only mean having more machinery and plant prol vided in a direction that was already i overdone.