PAPER MILL COMPANY.

Globe, Volume XXIII, Issue 227, 21 July 1881, Page 3

PAPER MILL COMPANY.

A meeting of gentlemen interested in the formation of a Paper Mill Oompany was he'd in the Assembly Booms of the Drown Hotel, Temuka, on the 15th inst, Mr Hayhurst presided. The Ohairman, after a few introductory remarks, called on Mr A. J. Burns, of Dunedin, to address the meeting. Mr Burns, in the course of his address, stated that he hod been instrumental in successfully promoting other similar enterprises in the colony, more especially the Mosgiel Woollen Factory Oompany Limited. Mr Burns pointed out the many natural advantages which Temuka possessed favorable to a scheme of the kind, foremost among which were : —(I) Good pure water, and plenty of ft; (2) cheap straw; (3) convenience of a railway, and a port within twelve miles ; (4) abundance of labor. It was conclusively shown that if the scheme was successful it would benefit all classes, and it now depended chiefly upon the efforts of the residents in the district whether it was a success or not. If every one came forward to help according to their means, before long they would have a flourishing local industry in their midst. It behoved the gentlemen who would be elected as provisional directors teat evening, to loss no opportunity of explaining the objects and advantages of the scheme to all those who were interested in the mat ter. Farmers had a direct interest as affording them a market for their straw, which was frequently a waste product on the land. Tradesmen were interested in any subject which increased the number of consumers for their merchandise. The working classes wore interested in a movement which would be the means of giving employment to many. The people of Timaru also should not be backward with their aid, as the Port of Timaru would be largely requisitioned for purposes of export and import. Mr Bures showed that, as an investment for capital, it loft little to be desired. To show that there would be a market for tho produce of a paper mill, Mr Burns stated that 1050 tons of printing paper alone, at a cost of £65,000, were annually imported into this country. In connection with a paper mill, Mr Burns thought that if the farmers could be induced to grow linseed, an oil mill would be a paying concern, tho waste products of which firm the best material for the finer kinds of paper. After considerable discussion among those present, during which Mr Br-ns enswe.-sd numerous inquiries eliciting some valuable information, it was resolved —“ That a oompany be formed, to bo called the New Zealand Paper Mill Oompany, with a capital of £25,030 in £1 shares, the calls to bo made in the following manner, 2a 6a on application, 2a 6d on allotment, 5s in six months, and 5s ; u not less than nine months, and 5s in not less than twelve months if required.” It was resolved—“ That the following gentlemen be provisional directors, with power to add to their number :—Messrs J. Hayhurst, A. J. Burns, J. Mendelson, Dr Hayes, K. F. Gray, E. Leo, J. Patterson, D. iloKay, A. Grant W. Frew, J. Moyers.” A large number of shares were then taken up in the room, and the application calls paid. Tho consideration of the election of brokers, Ac., was deferred till another meeting. At the adjourned meeting held on the IStb inst., it was resolved, after a good deal or discussion, to hold over tho election of brokers till after a public meeting had been held. The following resolutions were carried:—“ Tbit a public meeting be called at the Volunteer Hall on Tuesday, 26th inst., at 7.30 p.m., for the purpose of placing before tho meeting the proposal of starting a paper mill company in the district.” “ That tho prospectus of the proposed company be advertised in the principal papers.” A vote of thanks to the chairman terminalea the proceedings.