CO-OPERATIVE ASSOCIATION.

Gisborne Times, Volume VIII, Issue 690, 9 December 1902, Page 2

CO-OPERATIVE ASSOCIATION.

MED TIN j IN WESLEYAN SCHOOLS' nC.L AN ANIMATED DISCUSSION. There was a large attendance at the \\ eslevan schoolroom last evening in response to an invitation issued by a gentleman in IE.-b >r::i> to discuss the question oi the fc» luatiou of a bakery and butchery concern. Mr \V. Smith, convenor of the meeting, presided, and p. sc. d be tore the meeting a deal oi info'.matimi a-- to the sueeess

which attended co-operative stores in England and elsewhere, lie gave details of a scheme which he considered practicable. but state 1 that he preferred that the matter should be gone into in a businesslike manner by a committee appointed by the meeting. He expressed his willingness to put the maximum amount of capita l into the concern that the law would allow him to do. Ho thought that a good start could be made for the sum of £SOO, but in order that the company should be on a safe basis it should be formed on a limited liability basis, say 500 shares of £4 each, the sum of £1 per share being called up. He did not desire to press his own views on the audience, and was perfectly willing to work with those present on whatever lines they should decide upon. As convenor of the meeting he was anxious that a start should be made, and lie suggested meat and bread because there was the greatest margin of profit on tiiose commodities, lie desired to appeal to tho consumers present to support him in tbe objects be had in view. Mr D. Dot: did not see why the meeting should only deal with bread and meat, lie wanted to see a co-operative store of a general kind—meat, bread, groceries, etc. Mr Smith, in reply, said that there was a very small margin of profit in groceries, and it would also mean additional capital. Mr G. Stubbs wanted to see the venture started on sound, business-like, and up-to-date lines. He did not think sufficient capital would be forthcoming to include groceries. He was also somewhat exercised as to whether a co-operative bakery and butchery would not be detrimental to the persons ongaged in those trades in Gisborne.

Mr Bott sold no one proposed to wipe out the butchers and bakers. Another speaker thought private enterprises would flourish just as well as ever, but they would not be able to afford to give credit. Mr Smith assured the audience that personally lie was not making anything out of tbe concern.

Mrs Erskinc : What are you starting it for, then There have been co-opera-tive businesses started before in Gisborne and carried on by better men than you. Mr Smith: You have never given me a show ; just wait and see. (Laughter.) I do not know why it should be a failure. Mrs Erskinc : But we do not know who you are.

Mr Smith : I am prepared to put my money into it. If anyone has anything to say against my proposals, let him stand up, like a man, and state his objections. (Applause.) Continuing, Mr Smith stated that a number of gentlemen had offered to take up all the shares that were going begging, so that the company might bo furinod. He could not reveal tho names of the gentlemen without their consent, nor did they wish their names known unless tho company was formed. Mr O. J. Morrell did not sec why shareholders should receive ten per cent. Ho thought that the rate of interest was too much for him to pay out of his hardearned savings. He was opposed to many shares being allotted to ono man.

Mr Smith said that all these matters could be settled by tho directors. Mr Morrell thought that all profits over five per cent, ou tho subscribed capital should bo paid to the consumers. Several others present also expressed this opinion. Mr Bartlett thought that no consumer should receive a bonus unless ho was a shareholder.

Mr Whyte asked Mr Smith a great many questions in regard to the proposed capital of tho company, and also as to who his friends were that had promised to subscribe tire necessary amount of capital. Mr Smith said that lie could not as a gentleman reveal tho names of those who had promised support, nor had tho meeting decided that they would entertain his proposals. What he desired was that a provisional committee should be appointed to discuss tbe matter, and present a report to another meeting. Ho had a great deal of information as to site of shop, obtaining the use of a slaughter-house, aud many other matters which he was prepared to submit to the committee. Mr Whyte : What aro you prepared to put in yourself ? Mr Smith : As much as the law allows me. If a two thousand pound company is formed, I will contribute tho maximum £250.

Amid much interruption, Mr Whyte continued to ask questions as to who were tho capitalists who wanted to put money into the concern.

Mr Smith appealed to the meeting as to whether the question was a fair one ; most of those presont replying that it was not a right question to ask, Mr Whyte then resumed his seat amidst applause. In answer to Mr Cogar, Mr Smith said that he thought about £SOO would be sufficient for all purposes. This amount could be called up, and the nominal capital could bo £2OOO.

After further discussion, the following gentlemen were appointed to act on the provisional committee : —Messrs R. Cogur, (J. J. Morrell, J. Lewis, B. Bott, W. Smith, C. Grey, G. Goldsworthy, Sigley, If. Withers, Harrison, W. Edwards, H. Morse, Bartlett, W. Higgs, F. Sharp, J, Edwards, G, Stubbs, ami G. Williams, At a meeting of the committee held later in the evening, tiie following subcommittee was appointed :—Messrs W. Smith, Cogar, Stubbs, B. Bott, Morrell, G. Williams, Harrison, and H. Morse.