CO-OPERATIVE DAIRYING

Gisborne Times, Volume VIII, Issue 583, 29 November 1902, Page 3

CO-OPERATIVE DAIRYING

KIA OKA FACTOBY. Last evening, a large number of suppliers of the Kui-Ora Factory met at the Maloiuri School to consider the report of the committee appointed at the preliminary meeting as to the advisability of turning tho Kiu Ora Factory into a cooporativo concern, to confer with Mr McGregor as to terms, and to approach tho Poverty Bay Co-operative Company on the subject of amalgamation. Mr Tumbleson presided. Ho said the committee had seen Mr McGregor, who had submitted the following prices : For Kia Ora Factory : Two acres of land £BO, buildings £IO7B, machinery £l7lß, manager’s house £240, sundries £169; and for tho following creameries : Ormond £5lO, Waeronga u-hika £430, Te Kanika £350, Gisborno £BOO, To Arai £225, Patutahi (machinery only) £140; total, £02:1:1. The terms offered by McGregor woro a five years’ lease on deferred payment, tho principal to bo paid by deducting 5 per cunt, off tho monthly cheque, shares to be ,£2 per cow, one shilling for application and one shilling for allotment. Tho Chairman also said that they had interviewed the provisional directors of

the Poverty Bay Co oporativo Company, and that they had failed to. come to any torms. He said that tho Poverty Bay Company thought they had a better thing on, aud that tho price was too much. Mr McGregor’s terms were considered very satisfactory, and Mr Acland Hood urged that they should ho accepted, and got to work at once, stating that he firmly bolieved that no company was over offered such magnificent terms as Mr McGregorhad offered thorn.

Tho question as to tho nurnbor of shareholders they could procure was next dealt with, in a vory ablo manner, and on the proposition of tho Chairman it was resolved that tho suppliers presont should give their names and • the number of shares they intonded to procure. In a short time no less than 560 shares wore guaranteed, including 90 shares from Ormond which had previously boon obtained. Mr Acland Hood moved, and Mr Graham seconded, that a committee bo set up to canvass tho district, and that oach portion of the district should bo represented by two suppliers, and for to draw up articles of association, and also get an agreement put in form to place before Mr McGregor. The following gentlemon were elected to canvass :—Alessrs Graham and Bond (Ormond), Brooking and Cook (Makauri,', Koborts and Preston (Te Arai), Torrey and J. Griffin (Gisborne), Mossman and Itoberts (Patutahi), Evans and Spence (Karaka), D. Malone (Waeronga-a hika.)

A hearty vote of thanks was accorded to tho chairman on the proposition of Mr Malone.

Tho meeting was adjourned until next Friday evening, when a largo muster of shareholders is expected. A fuff report is hold in reserve for our next issue.