A Frozen Meat Company.

Wairarapa Standard, Volume XVIII, Issue 1744, 9 October 1885, Page 2

A Frozen Meat Company.

While meat freezing; companies in this colony have, despire low prices, been enabled to hold their own, some similar undertakings in Victoria have got into evil plight. A special meeting of the shareholders in the Australian Frozen Meat Export Company (Limited) was held at the Melbourne office about a fortnight ago, “to consider the fall in the price of meat in England, and its effect on the operations of the company. The company has overdrawn its account with the National Bank to the extent of £11,500, on which 8 per cent interest is being paid, and if the bns'ness were -suspended the Orient Company would be entitled to claim L 4700 for non-fulfilment of 'he contract for the conveyance of meat. Owing to the fall in the price of meat in the London market, the margin of profit had given place to a loss, but the Orient Company have virtually undertaken to carry the meat for per lb (instead of as at present) so long as the price obtained did not exceed 4d, and any balance above that is to be divided equally between the Orient Company and the frozen Meat Company. It is believed that under this arrangement the business cm be carried on without loss. The directors were authorised to continue operations until the end of the year. The Chairman urged thaf, in view of the falling price of wool, the squatters and stock owners of Australia should combine and send a thoroughly qualified representative to China and Japan to endeavor to open upmarksts there lobe supplied with wool from these colonies.