Dairy Factory.

Manawatu Standard, Volume IX, Issue 59, 11 February 1885, Page 2

Dairy Factory.

(Continuation of Report.) Tho next clauso of report, viz., as to payment by promissory note. Mr E. Collis remarked that ho could not see anything unreasonable m this speculation. The seven directors returned by, and representing the shareholders, had he believed a good deal of financial difficulty to contend with, and so long as the contractors with the Company could use such paper as proposed he thought there should be no objection to the carrying out of this proposal. Mr Ferguson remarked, that the Wanganui Factory, although not paying by bills yet they only paid at the end of each three months. Their idea here m giving paper was m order that the re- : ceiver might make use of it if he required. :..■■•-■ lie 200 additional shares|to be subscrib - eel for. Mr Akers, here pointed out to the shareholders, that it was tho intention of the directors to call a meeting m 3 .months time to decide as to the manufacture of butter or cheese. . , Mr Wingate, would like hefore the re.porfc was put to the meeting to make a few enquiries. Ist. Are the directory, m a position to state if the manager of jtlio factory is a competent man, and arc the appliances used by him required, and also are they m proper working order. He (the mauager) had told the settlers various tales about tho per ceutage of cream required m the milk. He know' for a fact he'had told one man 8, another 10 7 and others 12. He (Mr Wiugate) had lost all confidence m him. Any man, no matter who he was, who would play with people like that, was not the man to hold such a responsible position. Referring to the paymeufc by bills, if the Company could show that they were m a position to meet such bills, when due, he would be satisfied to # accept such payment. ' ; ; Mr Mourad, as to; decision re quality of milk, it was impossible for tho manager to do other than ho had done. He was not to blame. He had to use his discretion' where there was such variety of milk received. As to the financial position, the shareholders could examine tho books of the Company at any time or depute someone to do so. Mr Hankins then put the report to the meeting, which was carried unanimously. Mr Monrad here rose to say that at the meeting of directors held that clay, Mr Ferguson had resigned the chairmanship and he had taken the position temporarily, and would now resign. .In doing so, . he would inform the shareholders that none of the directors would accept the position of chairman. He would suggest that they recommend one of themselves, to take his place. An independent, shrewd and far-seeing man would be required. Mr Sly hoped Mr Monrad would reconsider this decision to resign, and at least fill the post until the new shares were taken itp when a good man out of the shareholders might be secured. Mr Wingate wished to know if certain particulars he had requested to be produced at last meeting had been procured, and was supplied with the following from the manager. Feb. 10. — Quantity of milk bought, Jan;. 6 to 31, 100,9441b5, which produced 3,2081bs butter, or 311bs milk to lib butter; showing an average of nearly 10 per cent, of cream, as 10 per, cent, yields 3-18 of butter from lOOlbs milk. Mr Ferguson said that respecting the chairman of directors position being vacant he might inform the shareholders that not one of the directors think it good enough to take such a position, and have the abuse such as he himself had received at the last meeting;; The directors will take the man recommended by the shareholders and give him their support; and all the assistance 'm their power. Aftor a considerable tune Mr Walker decided to accept the post of chairman till tho end of the season. - Mr Sly then proposed that this meeting record ; its high appreciation of the manner, m which .Mr Ferguson had worked for the success of the Company, he had never seen any man who had given so much of his time and experience to thointerests of a public body so disinterestedly as Mr Ferguson had. He had had numerous and ereat difficulties to contend with-, and these he had overcome m a manner reflecting the greatest; pain. He would propose a hearty and unanimous vote of confidence m the directory, and particularly m the late chairman, MiFerguson. Seconded by Mi' McEwen, and carried unanimously.. Votes of thanks to the chairman, and to Mr Linton for the use of the room, brought the meeting to a close.