Longburn Freezing Company

Feilding Star, Volume XIV, Issue 141, 18 May 1893, Page 2

Longburn Freezing Company

♦ MEETING AT CHELTENHAM. The flrst of a series of meetings in tin's district for the purpose of discussing the present position of the above compsnj was held at Cheltenham last evening. Owing to the unfavorable state of the weather the attendance was only rooder* ate. Mr Mills was voted to the chair. Mr Macpherson, secretory to tbe com* pany, was called upon by the chairman to address the meeting, and said that several shareholders in this district had expressed a desire that a meeting should be called to ascertain whether the com* puny should go on, and endeavours be mr.de to raise further capital. Mr Mac plterson then rend the chairman* speech at the recent meeting of shareholders in Palmerston. The farmers in that dis« trier, he said, were doing their utmost to push the shares, and so far about 300 out of the additional 2000 shares required had been taken up in the Palmerston neighbourhood. Mr Eikiagton enquired whether new shareholders would have any preference over the old ones. — Reply ; No, Mr Jacob stated that bearing in mind the wealthy districts served by the com* pany the amount required is only small. The additional capital would be solely spent in the purchase of stock. Had the manure and fellmongery works bean started from th<» first, they would not be in their present position. In reply to a question, Mr Macpherson said the largest shareholders were living in Palmerston. Mr Jacob said 30 oat 350 shares were held in the Kiwilea. Unless 1000 shares are placed, the money subscribed by the new shareholders will be returned. Mr Jacob proposed, and Mr Johnston seconded, That in the opinion of this meeting every effort should be made to raise additional capicil, and those present be invited to take shares. — Carried. Mr Spencer considered that there was nothing like a thorough personal canvass of the district, as his experience of far* mers was that they would not voluntarily come forward and take up shares, but must be waited on personally. At any rate this was his experience, and he had had to do with the floating of one or two companies. Tbe speaker then proposed, and Mr Jacob seconded, that Messrs Elkington and Johnston be appointed a committee to canvass for shares in this district. — Carried. Several of those present came forward and took up shares, all the old shareholders in the Company increasing their original holcngs. A vote of thanks to the chairman for presiding brought the meeting to a closo.