Manawatu Herald. SATURDAY, APRIL 7, 1894. A Dairy Factory.

Manawatu Herald, 7 April 1894, Page 2

Manawatu Herald. SATURDAY, APRIL 7, 1894. A Dairy Factory.

A wise thing was undertaken on Thursday afternoon at the meeting of settlers in Foxton in deciding to float a company to erect a cheese factory. ' We have written upon the importance of this step many times previously and are therefore glad to see a plunge decided upon. We use the word advisedly as to some of those present and agreeing with the movement, -there- appeared to be a hesitancy as to whether they were doing quite the right thing in trust ing to^ themselves. This is the only point we desire to touch upon- to-day. The movers have • taken - the most sensible sourse, in our estimation, for these reasons, that whatever amount they embark in the venture they retain the full control of, ar.d secure a factory in place of a sideshow like a creamery. If they had been, induced to entertain the pvoposai made by the Dairy Union, £200 of the settlers money would have become involved in the other capital of the Union and not only would the resident shareholders, be interested financially in their creamery but in the whole business of that company. If there is doubt about a local undertaking there must be as much doubt of the undertakings managed by tho Union, and by getting interested in the Union shareholders would have more irons in the fire than they desired. We believe that there is no risk in either way but are only putting the case in such a light that settlers may see the starting of a factory in this district is one which must be profitable; otherwise why should a company of business men make the offer they do ? If their offer is honafide, which we do not doubt for a moment, that is to say for a guarantee of £200 extra capital they will supply this district with a creamery, why cannot the settlers find a liotle more money and start a factory? The men are just as capable, here, of managing a business as elsewhere, and a' company, the shareholders of which reside within an easy distance of a factory, are much more likely to be able to exercise bettor supervision over it, than if left to bo managed by a few as it must be in a large company

: milar to tho one wo have instanced. It is evident that the whole capital of the proposed company has no need to be called up, the shares want allotting as a guarantee to a financial institution, but the capital fairly subscribed for, and one-half of it arranged to be called up in easy payments should be sufficient to enable a start to bo made ; and a start made means a speedy enlargement of the premises at an early date. Everyone who has stock should help the enterprise, for a factory.' ;mbans! in increased, value as well as to stock as land. We have some excellent settlers, who though not prepared to supply milk at present ai-e yet anxious to see the distriot progress, who would take shares, and we believe energy on the part of the Provisional Directors means' success.