The Manawatu Standard (PUBLISHED DAILY.) The Oldest Daily Newspaper on the West Coast. THURSDAY, MARCH 12, 1885. THE DIARY FACTORY COMPANY.

Manawatu Standard, Volume IX, Issue 84, 12 March 1885, Page 2

Manawatu Standard (PUBLISHED DAILY.) The Oldest Daily Newspaper on the West Coast. THURSDAY, MARCH 12, 1885. THE DIARY FACTORY COMPANY.

At a meeting of directors of the , Manawatu Butter, Cheese, and Bacon Manufacturing Company, Limited, held yesterday, the following resolution was adopted— That the land and property of the company be sold, as soon as possible, on the best terms procurable, and that the company be wound up. We can but express our regret that it has been found necessary to take this final step. We are ( confident that the industry will yet bo proved remunerative, and that it is a legitimate one, there can be no question. No blame can attach to. the directors, who have clone their very utmost m the interests of the Company, and "Who have not spared either their individual time or exertion m order to ensure, if possible, the success of the undertaking. It is no secret thatasraall section of the settlers around Karere have not given the project 1 the practical support they were expected to do. It i«- also an admitted fact that more than one of the residents of that district, of late more» particularly, have shown by their demeanour that they were actuated by a spirit of hostility or anlago»nis>m towards the directors, with whom they have not pulled well together. A very undesirable result hag* how been achieved, aud it is to be regretted for the sake of the district, and it 3 reputation outside, that one of its most promising- and important industries, inaugurated , under very encouraging auspices, has had such a brief and unsatisfactory career. We can see no reason why, had the settlers m- the ' locality, as a body, chosen to give the undertaking their loyal and unwavering support, any other result but success would have been achieved — if not immediately, at least eventually. The directors took a large share of pecuniary resposibility on their own shoulders, and were prepared to continue that responsibility for a further period, if necessary, provided, their fictions were Vnot wilfully misreoresented, and their <] motives maliciously and systematiI ctilly diMmragt'd and carporl .it. No body of men could bo. expected tn put i up with inc(is<ant cavilling and übu.ie j ! when 'doing their very best m th** m- J , tercsts of th« Company. The remarks ' of a Itfr ; FitioD; at'the meoting of ■■ sharehdklej's hold recently, were much

to lie deprecated, anil it is generally understood that this gentleman was the spokesman of the chief malcontents simon« the Karore shareholders, to who.«e action mainly may be attributed the present unfortunate position of affairs. "Where there is an absence of unanimity, things cannot proceed smoothly, and success will be tardily achieved. We venture to-say that the concern will be purchased 1 bysome one or two individuals, who will combine their capital and labour with industry, and who will practically demonstrate that it can lie profltably worked. The present consummation is more or less a reflection, however, undeserved, on the whole district, and . as such ie will be considered by persons at a distance. The good name of Mannwatu will most certainly i*ot be benefit**! m consequence.