THE DAIRYING INDUSTRY.

Franklin Times, Volume 9, Issue 752, 1 August 1922, Page 5

THE DAIRYING INDUSTRY.

CONCERNING CO-OPERATIVE COMPANIES. A meeting of dairy farmers is to be held at Levin next week to consider suggestions for incorporation in a proposed Dairy Companies Act, 1922. The following motion will he put : “ That, as dairymen, we view with concern the present legal and doubtful status of co-operative dairy companies, and the unsatisfactory results of endeavouring to fit in with existing law. We therefore determine to ask with all urgency and our united voice that a law lie placed on the Statute Book to lie called ‘Co-operative Dairy Comppanies Act. 1922.’ ”

The new legislation to be asked for will be in the direction of compulsory supply of saleable surplus of dairy produce, particularly milk or cream, by members to the factories and companies in which they are shareholders the liability in respect to the nominal value of shares) held to be extended for five years after ceasing to be a member or refusal to discharge obligation. Provision is to be made for the holding of “ security” shares additional and in proportion to shares already held in co-operative companies'. No place of profit is to be held by directors of co-operative dairy companies in such companies apart from such profi s as shall accrue by virtue of membership in or supply of products to such company. Alterations in the memorandum and articles of association of co-operative dairy companies will also be considered, especially with reference to allotment of unallotted shares to existing shareholders.