Cheese and Butter Factory.

Feilding Star, Volume IV, Issue 68, 10 November 1883, Page 2

Cheese and Butter Factory.

♦ A meeting of the shareholders of the Feilding Cheese nnd Butter Factorj Company was held in the Denbigh Sample Rooms on Thursday evening. There waa a large attendance, and the meeting was thoroughly representative". Mr Sherwill was voted to the chair, and read the advertisement in the Stab • calling the meeting, and the minutes of the last shareholder's meeting, which were confirmed. He then proceeded to read the report of tbe directors. He said it was with great reluctance that the directorf had come to the decision they had, and no one more so than himself, lhe canvassers had thoroughly canvassed the district, and it was evident they had not met wilh sufficient encouragement to warrant the directors in carrying om the company. If, however, the shareholders thought differently, it was for them to decide what to do, and no one would be more glad tban himself to see the affair ~ successfully floated. . He then read the report of the two canvassers, Messrs . Corpe end Ameabury, and said the papers had been rather rough on some of tho" -directors for not haying paid for their shares, which he justified by saying tbat the money from these waj -sure to be forthcoming the moment there was likely to be a successful floating of the company. Mr Jackson, the secretary, said np doubt some of the blame in this matter attached to him, as he had not asked them for the money. Mr Fry moved that the reports of the directors and canvassers be adopted. This was seconded by Mr Saxon, and carried. The chairman said this simply meant that tli ere was an end to the thing, and it remained for the shareholders to be repaid their deposits, and the affair would have to be started de novo. He suggested that the scheme should now beleit to the farmers, instead of the business men, who were only supposed to be indirectly interested. M-r P. Thompson was surprised to hear the chairman speak so disconragingly. Mr Banks said if the Kiwitea district had been thoroughly canvassed he was quite sure a good many shares there would hare been taken up. Mr J. Whisker was really surprised to hear men of busiuess and intelligence come to tbe decision they had that evening. He advised a little more deliberation in con^dering the matter, and for fair discussion to go on before coming to > decision. Mr Hammond pointed cut that there was now no directorate, they Having resigned, aud their resignation been accepted, und it was for the meeting to elect one. Mr Jacob asked whether the post directors would take up their shares if » new directorate were appointed. i The chairman said be could only answer for him self, and that was in the affirmative. If people had wished to take up shares, they should bare come to his office and done so. Mr Jacob said that, hearing there were canvassers appointed, the people had been expecting to be called upon. ' Mr Banks spoke tu the same effect and ofiered to canvass Kiwitea himself. Mr 1 ry, as one of the past directors, said he was willing to lake up Jiis shares if the affair was successfully carried on. Mr P. Bartholomew and ii r Saxon also spoke to the same effect, if something like 1,500 shares vrere taken up. Mr Bryce said in lhe meantime he should withdraw his shares, and worild uot commit himself as to what he would do in tbe future, but do doubt he. should have some shares il the -. thing were car- - ried on. '■' A I r L'orpe gave his' ohinibn, as one of the canvassers, that it was a hopeless task to try to get 1,500 shares. He suggested the starting of a butter factory simply, till snch time as it might develop into a cheese and butter factory. Mr Cottrell moved that the past directorate be requested to rescind their resolution to resign, so that they may be re -appointed, and others added. Tbe chairman pointed out the impracticability of this, as the shareholders had accepted their resignation, and the shareholder's resolution to accept would first of all have to be rescinded. Mr Hammond said the only thing to be done was for the present meeting to elect a new provisional directorate. He then moved a resolution to that effect. This was seconded by Mr Lankshear. Mr J. Whisker moved, as an amendment, that the meeting regrets the hasty decision of the provisional directors, and asks them to withdraw their resignation. Tbis was seconded by. Mr Cottrell and carriei. Mr Lethbridge expressed his intention not to continue to be a director. Mr Fry and Mr Bryee also said they should withdraw. Mr P. Bartholomew expressed hia willingness to give his hearty support as before. The chairman said Mr Macarthur and j Mr Monrad wctb away, aud Mr Sexton. wa3 not present. A majority of ; the directors being unwilling, there > was nn end of the affair bo fai- as this past directorate was concerned. He was for himself, however, quite prepared to acton a new directorate. | After' some further conversation, the chairman pointed out that" the majority pf the directors having refused to act, Mr Whisker's amondroent fell to the ground, , as did - also Jtr Hammond's motiom so that nothing more could be done unless the mee&ngrarmblved to start afresh;- '" '••'.' X' :. : ' .", .''' ' : » : f' : .tX There being no other. motion before. the meeting, ifc then dispersed.