FARMERS' FREEZING COMPANY.

Waikato Times, Volume LVII, Issue 8047, 2 November 1906, Page 2

FARMERS' FREEZING COMPANY.

ANNUAL ME STING. The annual meeting of the shareholders if the Auckland Farmers' Fre<zing Company, Limited, was hold in.the Company's oliico, Kaitway Wharf, on Wednesday afternoon. .Mr J. chairman of the h >ur<l of dVpctnrs, presided, and there was a fair attendance.

Tuo second annual report, which wns presented, stated that during tho soason li2B carewea of mutton, 30.647 carcases of lamb, 434 quarters of buef, and 6859 crafr s of beef, were frozen for export at the c in - pany's woks. The shipment of froz u b.*'f in crates was a new departure in th s province. All the bone was taken out. and only the solid meat shipped. Freight on meat shipped in crates was less than when shipped in quarters, while the bone was w rth more in New Zealand than in the Old Country. A double saving was thus eff cted. Ihe quantity of butter exported from Auckland was 108,207 packagos, of which 62,740 boxes went through the company's works. The thanks of the compar y were due to the various dairy companies »nd shareholders for their support and c - peration during the , ; ea«ou just closed. The quality of lambs put through the works was, on the whole, good; in fi>c f . one of the Londun firmj reported th .t ihe quality of sinie of the lambs was »s ,-ood as Canterbury, but not eo regular, but they certainly were as .jood as any lambs slipped from the North Island, taken right through. Although th's report was very satinfaotory, growers should not be cont nt until the reports stated that Auckland lambs were -uperior to the rest of the North Island ai d rank equal to Canterbury. If farmers were to attuin this position for their stock it ■vas uecessary that they should give special vttention to the breeding and fattening. Ihe kind of lamb required by the Engli-b market was a nice, well done, plump lanil>, weighing less than 42ib when dressed. Lambs over 42!b brought less money pr lb. Unfortunately the price of lambs on the English market had not been satisfactory, and consequently buyers bad suffered. An other puintto be regretted was the faot that the number of sheep in the distriot had decreased ; but it was hoped that with a good market and fair prices in the future t 1 e number would again increase. With the Crown and native lands opened up and stocked, there was no reason why Auckland ihould not he one of the principal porta i f export for frozen produce in New Zealand. In explanation of the sum of J81967, shown on the balance-sheet as o»Ua in arrear, th s sum r< presented only .£331 worth of cals that could be considered bad, the balance being calls due on shares that hai been allotted up to the date of the balance-sheet. The profit for the year, as disclosed by tie balanoe-sheet, was £llOO 17s Id, which tre direotors proposed treating as follows:—' o write £2OO off preliminary expenses account, and to carry the balanoe forward. No provision was made for depreciation, 18 it was not considered necessary to write anything off this the first year, but provision wouid have to be made for depredation in the future. The dirsctors had pleasure in announcing that the purchase of the Auckland Freezing Works hid been completed, and that the company entered into ooasessioa on October 1. The purchase of these works would greatly facilitate the conipmy's business and would obvia'e the necessity of building works in Aucklan '. Messrs Joseph Barugh, J. C. Allen, and W. V. Sturges were the retiring directors Two seats had been allotted to Messrtlellaby's representatives, consequently there was only one vacancy to fill, and us vlr Birugh was the only candidate no nallot was necessary. The auditors, Messrs Kayll and Wilding, also offered themselves for re-election.

'1 he statement of assets and liabilities was as follows:—Liabilities: Subscribed oapital, 6363 shires at £5, £26,815, le-:< irrears, £1967; capital, paid up, £24,848 ; mortgage account?, i! 10,10 I- sundry cred:Cure, £145 10s lud ; balance, £llOO 17s Id ; total, £36,09178 lid. Assets: By building account, £16,684 8s 3d; plant account. £15,262 17s j office furniture, £67 17s 6i; bank current account, £504 4s sd; cash iu hand, £23 Us si; sundry debtors, £l4'4 9a Id; stock on hind, £234 93 7d; preliminary expenses, £912 10a 8d; total, £36,094 7s lid. The Chairman, in moving the adoption of the report and b dance- iheet, stated wete very satisfactory, seeing the difficulties that hid to bu conteuded with. He was very glad to see that the dairying industry was goiDg ahead by leaps and bounds. They were fortunate in having )uch a. man as Mr 'lhornton to look after the industry, and he (the speaker) had no doubt that the in ustry would grow more ?n I more important as time went on. K< - tVrring to the exportation of beef, he was told a month ago that he could not get 100 head of cattle in tho Waikato for ex port, but this statement was wide of the mark. About 500 head hid been put through the works during the past week or two, and a simiiiar nnmboi were under offer. There was every prospect of the price for beef keeping up, and for this they had to thank the Americans. New Zealand always seemed to be lucky. First there was the Boer war, then the Australian drought, and now the American meat scandals, which put everything int; the hands of the New Zealanders. The chilling of eggs was progressing satisfac torily. They already had one room full, and were now fi ling another. The Govern ment deserved every praise for the manner in whioh they were encouraging this indus try, and he hoped that they would go a little further and enoourage the fruitgrowin; industry somewhat on the same lines. Apples could be stored very cheaply f<;r four or five months, and the prices which the holders would get lor sturing them would well repiy them for their troub!', He thanked the stiff for the loyal and energetic manner in which they bad cirriid out their duties, also his co-diroetors for the hearty support which they bad given him. There was another word of appreciation which he wished to pass, and that was to the Government graders, who had done excellent work. The report and balance-she ;>t were adopted, aud auditors were re-elt:ted. A vote of £25 each was pissed to the directors for the past yeai's services, and a scile of fees was fixed for directors attending meetings in connection with the compiny's affairs.—ll srald.