CANTERBURY FROZEN MEAT COMPANY.

Wanganui Chronicle, Volume XXXVIII, Issue 11952, 30 March 1894, Page 2

CANTERBURY FROZEN MEAT COMPANY.

ANNUAL MEETING. (Per Presß Association.) Christchurch, Maroh 29. The annual meeting of the Canterbury Frozen Meat Company was held to-day. The report stated that aftor writing off .630,000 for depreciation the balance at credit of profit and loss account wss •£2447 14s 2d. A dividend of 8 per C9nt, was recommended, with a balance of .£47 14s 2d to be carried forward to the new account. The amount of freezing done during the year shows an increase upon tbo work of tbe previous year ; the increase, however, bas not been so great as might have been expected. The works had unfortunately to be stoppod last autumn owing to the want of freight space, caused by the detention of two steamers from accident. The output of the works during January and February last was also restricted by the non arrival at the stipulated time of the new refrigerating plant. The new machine, Hall's cartsonic anhydride refrigerator, has been working since the beginning of the month, though so far connected with only three rooms ; the connection with the other rooms is to be made as soon ns the freezing operations admit of their contents being delivered. It is regretted that the results of last year's shipmonts of frozen meat during a considerable part o? the year were unprofitable. The temporary disablement of steamers resulted in excessive quantities of meat boing delivered in England at the time when the market there was completely demoralised by large quantities of English and Continental meat that were being pressed for sale in consequence of the disastrous drought which lasted well into tbe autumn. Since Christmas prices had steadily improved, and" it is hoped that the business of the present year would be profitable. Although the freezing work of the past year had beon done at a lower rate the profit had been a little larger, and this confirms the estimate which tho directors made when they reduced the freezing charge. If unforaseen obstacles had not arisen to restrict a legitimate output the rate of profit would have been still greater.