, 1893-09-13
TIE ICE MAKING COMPANY Ltd.
From The Cleaner.

the Kingston Ice-making Company Ltd.
which is to be presented for approval at a
meeting Of the shareholders on the 9Th
August. This report covers the half yearly
period ending on the 30th june and is the
nineteenth that has been issued since the in
auguIation Of the undertaking. Nothing
untOward having occurred to initiate against
the continued prosperity of the Company
during this period we find that the balanCe
sheet is Of the usual satisfactory character.
The net gain for the six months amounted to
1886 and adding the interest on invest
ments a total Of e., 759 is available for appro-
priation to the ordinary purposes of the
Company. The dividend Of 81 per share
absorbs e., 743. and the balance of fl ,0l5 is
carried to the Reserve Account which thus
reaches the amount Of G12, 1876, or more than
50 per cent, Of the liability of the Company.
The Directors and Shareholders are to be
congratulated on the steady success which
has met their efforts to provide the public
with one of the most indispensable c0mmodl-
ties of tropical life. The extent to which
ice is consumed in the community is evidenced
by the quantity turned into the market by
the Company. During the last six months
20,744 blocks Of 900 lbs each, were made, or
to put it in another form 2 1873 tons Of 2, 1000
lbs each were disposed Of. The only way in
which the public could realize the enormOu
benefit of a regular daily supply office would
be for tho factory to cease running. 1t ia a
trueism that we never fully appreciate any
thing until we lose it, and the deprivation
caused by a cessation Of the supply of ice
would be the best means of demonstrating
how absolutely necessary it has become to the
PEOPLE as an article Of every day consumption.
Thanks to the admirable manner in which the
Ice Factory is run and the excellence Of its
machinery such a contingency rs not likely
to happen to try the fortitude and temper Of
the citizens. Here, at any rate, the Company
earns the gratitude Of the public.
In discussing the report Of the only Ice
Company in our midst it would be affectation
not to refer 10 the prospect held out by some
Of the Inauguration of a new and rival con-
Germ. As a public journal we have to take
notice of all new enterprises. We have not
yet seen any prospectus Of this proposed
undertaking, but from what we can gather
in commercial circles the principal plank in the
promoters platform is the reduction Of the
price Of the article from a half penny per ID
to one farthing. The proposal is an attractive
one and taking it seriously We can only say
that the question whether it can be accom-
plished without risking capital is yet to be
settled by a practical trial. But speaking
from the figures as presented in the report OF
the existing company we cannot conclude that
it is feasible, and would 90 the length Of
stating that it is not possible. The total
amount derived from sales of ice at a half
penny per Id. for the six months was So, 688.
At q farthing per Id. the amount would be
below &3, 5000. AS the expenses Of turning
out the supply would necessarily be exactly
the same, We do not perceive where the profits
to the shareholders would come in. With
two companies in the field the task Of making
the expenditure quadrate with the receipts
would be a yet more difficult problem, and
we opine the promoters would find it an in
superable one. It is, we think, q matter for
regret that idle local capital-if there be any,
which the mooting of this new scheme would
appear to indicate should not find an outlet
in directions that would directly assist IN the
material development Of the Island instead OF
being utilised to fight an already we'll estab-
lished enterprise which has been a boon to tho
entire community, rich aud poor alike; which
meets the wants of that community IN every
respect; and which has proved a profitable
Investment to as many as $50 local sharehold'
ers at the present time, the most Of whom,
with others, came forward originally and
risked their capital i'll the enterprise.