DAIRYING.

Gisborne Times, Volume VIII, Issue 690, 9 December 1902, Page 3

DAIRYING.

t PROPOSED KIA-ORA COOPERATIVE DAIRY FACTORY. I (To the Editor Gisborne Times.) Sir, —Some person or persons who are ■ cither ignorant of the facts, or who, with i malice prepense, arc spreading a rumor ! which may be detrimental to the interests of the proposed company, and which, no doubt, has an adverse influence on the prospects ot amalgamating the two companies. I allude to the rumor which is current, 11 that the proposed company is going to pay .Mr McGregor six thousand pounds for his factory, creameries, etc.” One would have thought that Mr Hood’s very clear and explicit letter would have dissipated this error, but there are many who Htill retain the impression that six thousand pounds is the amount to he paid, and with your permission 1 will endeavor to correct this idea. The company, when formed, will consist of three thousand shares of two pounds each, thus making its capital six thousand pounds, which sum, no douht, is the basis from winch the false rumor emanates, but any intelligent person can see that this sum has nothing to do with the purchasing price of the factory, but is merely the capital of the company. Mr McGregor has made the provisional committee an offer to sell the Kia Ora Fuctory for the sum of five thousand two hundred pounds, and this prico is subject to a valuation which is now being made. If this valuation proves that tho factory is worth what Mr McGregor asks for it, then the committee, upon tho formation of tho company, have the right of accepting this offer, but should tho valuation bo less then the committee will submit an offer to Mr McGregor for his consideration. I don’t think, sir, that I can make tho position any clearer upon tiffs point, and beg to subscribe myself yours sincerely, Rootk Brooking. Member of tho Provisional Committeo. < Waorenga-a-hika, December Bth, 1902. (