Dairy Factory Company.

Manawatu Standard, Volume IX, Issue 94, 24 March 1885, Page 2

Dairy Factory Company.

: W,An exttaordinary general meeting was Add** yesterday. The chairman, Mr C. W Walker, having read the advertisement concerning the meeting as inserted m the Manawatu Standard called on the seoretary to read the minutes of the previous meeting,,w.hiclKwere -duly confirmed. The chairman remarked that there was tib occasion for him to' address the ■ meeting j. the- 4>nly- : things -remaining being the proposing and seconding of the resolutions.' ' .-.? -* Mr Monrad proposed that the ComP^y3'e;^cupcL jup v#mita)ily f and tmitrtW present 'directors be liquidators j he afterwards ' altered this to read ,that Mr C. . . W. Walker be appointed liquidator. -.-: Mr.F.er^nsson supported the, resolution, ■ IJe d : d not, think a better man for" tne' position.' could be found, he was about the only one of the shareholders who had taken, an active part m the' Company _who ( 'pos^esfes the confidence .of both milksellers and directors.' Mr G. Collis wished torknaw if it was a faot that fresh offers had been received for the pnrohase of the concern, and was informed by the chair.man that, to his knowledge np, other offer, had come m, bat that when m liquidation the best offer received :WPpld< be accepted. Mr Collis farther wanted to know whatconrse the liquidator would adopt—to sell privately or by tender. X Mrj 'Hirst : ,3k (do '! i?ot \ $iink this question ought be asked, or that the proposed liquidator is m a position to' answer -it. '■-'>:.' „ Mr. Walker stated that if thereso- . lhtio'h we're carried he ' Would do His beat for the interests' pf.&e shareholders; tKey 1 could suggest ' any 1 measures they might deem advisable to be car. rjed ; .pu\'<f, and th^y w^uld receive his bestponfide^atipnli tj . *', . > .. , » Mr C. (Jollis_. stated that he was qvijteßat)Btfied. t\- ; : r r ' ■ Mr Henry Collis : I think : it quite proper that this meeting should decide. Whether ■ the sale be effected through advertising for tenders or by private treaty. .-,.., .?.... ; 1 The chairman : This" the > meeting • has power to do; ■- \;>:-: <;■■ > ■ .;.. ' Mrffenry' Collis: I- think that Such' notice shbtrid apperif m all the principal pa£ers"ftNhe colony; ■ '■'"ffi'Vf'pAWMutftf this'wouia interfere' 'wttfc' IJ tlVe ; Irafe' action of the liquidator.-y-they" Kad, every faith m Mr^Wal^, r iipd the' ma'tter> m his o pin ion, should he l^ft entirely m his hands, """ . Mr" Ri Leafy >; remarke# that it wpuJd he thpughtTß? advisable to. put the'resolhlions' separate^ ' The' Secretary tfi&i putiihe -original resolution to the meeting that the Company be wound x tip7 Mr, n Ct ' Walker-oppoihted liquidator ; the motion was declared dafrfed' by' •£ 4 7 v6tes toll. 1 •><* - . Mr R. Leary asfeed about remuneratio_n. Mr Walker stated he would 'noiacoeptfa'ny^ Hut givejhis^services gratuito^yj... ... „..,,,.,, Mr Henry Collis then proposed to adyertise thesateof theiproperfcy by tender m all the principal papers m the colony. Mr Fergusson on. the grounds of considerable and needless, expense objected to the resolution; to advertise the sale m all the principle papers would mean an outlay not evidently conceived by theproposer Jand-wbicH none 6f the shareholders would think'of allowing if they were awar^e, of the cost it would, entail. , Mr Batchelav moved as an amendment that the plant be sold by public auction t» ;be a,dyertised m a -few leading papers m the colony. ' ' _ ' ' '"\ Mr Hirst these suggestions were" utterly unneofefsarjr a^^ifli, resolution passel ' endorSuig 1 "them i^ would practically tie the,hands of the liquidator; it would be far better to leave the matter m the hands :©f the liquidator. * -. ;- f "-»i^ R| Leary &£■ not «bii&- that . at this particular time anything of a Dosi•tiy^.j^aturc'could vbe effected m the matter of deciding what shoutd 1 be' done regai-diug . the , sal^ ; the company was jiist Mth'e cbmme'u'cem.ent' oF^iqrti'dfa'tion, and itwould'be otft oiT-plsic'e-to restrict the liquidator as to what action he shduld take bypassing resolutions of the kind propipised^ ,HFar, v . better; , , to confine themselves to suggestions and not cripple - h^m jwitb. any; resolutions whatever. , ; ' being n'o'secbiider to the amendment, the Secre'taifyr^a'd' the original motion, seconded by Mr Cbism and car* m6fa-9 ':«.' >>.[.'■ ■• •.-■..■:''{■ \--.-:-. (!" :i;;-, Mr Wingate suggested that the plant be" advertised to be inserted "in' a few leading papers, application to be made to MrC. Walked," Mr Fernpsotf: Before concluding;'! would like^" the shareholders to fully understand >j the position of one or two matters mign|ioned aVtbe last meeting. Eefeti-ing-«lb«it*B?fl^eiaemb-&ade at the timo of .Mr "V^ingate'R leaving, he had looked ap|thi|'j^fe(nftnt, and found that the credit amount of iji,lll*as stated by Mr Wingate was really an item put dojyftitis awing by > the Qprntpany but which was at that time not met. As to the remark m MVWingate's letter m the Standabd, yiz., that a resolution had been tf&Sßed fothe'effecjf that tb.ejminority shoulan^ive-Vay* to the- maioHty this was a complete; .misrepresentation. No such resolution was pasVed, but a remark j.^as^as/ed -at a m§eting r of. directors to the effect that ithey'shoula work amicably together. ) and ; give/ way /to, ; eaoh. other when ' it ' was for the 'interests of the t shareholders. r "' ''.me 'Wingate 7 : As ! to'the sttttement'refer^d v tp.by ; Mr...FeFguso J n;, / I..liave also had that m my hands to-day, and I noticeinow that . several- items of expenditure set down were never paid and are not likely to be. ' v ' ' ' ' Mr Ferguson thought tha,t| the matter of the milk per centage should be definitel}' settled. He would ask Mr Monrad to make; a, -statement regarding.this affair. Mr. Monrad state.4 ■•hs.Jiad fron^ time to time attended, at. the .factory, had re- ' moyecl -samples' from tHe/cans and taken tlie pcl 1 centage the 'following dWy 'from a cyeamoirieter, and soTftircduld 'guarantee the correctness of thereturifej that is the comparison and>pi?ap6rtion of per oentage I but not the exact return. He would admit that .the mstrament , was going, put; |of fashion,, and that other factories were I using th^ centrifugal Ibesier and found it ! more- icorrectl . ' ' i: ". *" : ' r ;Mt Buick wisHed to" know why his milk which canie a long distance from . the 'factory waft allofced a percentage at , the rate of 15, aud. .those ; living near at .Mr Monrad supposed. that I£r Buick'a cows wipi-e of a better - quality than 1 the. "6ffiei'Veferred ; !fco^" i -- ■• ' • - ;i " •'.• Mr Buick '^aid he bonsrht hi» cows ' at random, at sales, and that they were about the worst m the district. 'MriMondrad; before separating wished to state that the reason he had not sent milk to; the Factory, as- promised, was .Jbh'at he had the ; interests, of the shareholders at heart, aqd knew r that the raw material would' fetch more ' than the butter made. ,i>! 4I j;;^ ;*: ;,• Alter some remarks as to the cheese which was to have .been presented and