The Manawatu Standard (PUBLISHED DAILY.) The Oldest Daily Newspaper on the West Coast. SATURDAY, SEPT. 19, 1885. DAIRY FACTORIES.

Manawatu Standard, Volume X, Issue 1459, 19 September 1885, Page 2

Manawatu Standard (PUBLISHED DAILY.) The Oldest Daily Newspaper on the West Coast. SATURDAY, SEPT. 19, 1885. DAIRY FACTORIES.

. The Wanganui Dairy Factory, does not appear to be working profitably. A number of shareholders recently convened a meeting by petition for the purpose of taking into consideration the affairs of the com-.-party and discussing, the desirability of continuing operations. The bal-ance-sheet from September the 23rd 1884, to September the 15th, 1885, showed the expenditure for that period to be over £ c 6oo m excess of receipts. The Supplementary Report was as follows : — The experience of the past season has, at all events, if not profitable, been a very valuable one to the shareholders. It has proved conclusively that the arguments Used by Mr Bowron, some years ago, m stating that an unlimited mark.et at a good payable price existed m London tor New Zealand cheese,, .were quite misleading, not only to^s, . but to . every other factory in 'New Zealand, and had it not been that another unexpected market has turned up for- taking our cheese, the directors would have felt, it incumbent upon them to call you together Jong ere this. Unfortunately, the experience has been a somewhat expensive one to the directors, not owing to anything that could have been fore-seen by the directors, who took every precaution m consigning the cheese to accredibrokers m T.ondon, but owing to the defective arrangements made m the Cool air chamber m the s.s. Ruapehu, which caused the cheese to arrive m port m an almost unsaleable condition, and to an unprecedented fall' in the cheese market at Home at that time. Your directors have also tested Queensland markets, but .'have found, after trying j two or three different consignees, that the charges, have m all cases precluded any chance ofshipping at a profitable rate. Notably m one instance, out of a gross return of <£>45, only netted to the company the insignificant sum of £\5 IPs lid. Snipping to other consignees the returns have been, however, better, and the last return netted to the company about o per lb, and the directors think that possibly, by carefully watching the fluctuations m this market, an outlet for a limited quantity may be found. Better success, however, has attended the Victorian shipments, and aprospectof a constant future ma) ketis now open. After considerable discussion,- it was moved — That this meeting resolves that as the Company hitherto has been worked at a considerable loss to the shareholders, the com pan v be wound up unless the directors can make terms I 'with the contributors to supply the factory with milk at 3id

perl libs with a good prospect of getting a sufficient supply on those terms to make 'A5 tons of cheese. It was ultimately resolved -that the proposition be altered to read that — The factory be closed up. The resolution was put and carried unanimously. It does seem most unfortunate that one factory after another is thus being closed up. It would now appear clear that Mr Bow kon's statements have been most misleading, and that m no case have they been realized by actual results/ It is to be hoped that the Factory will not be allowed to remain idlej but that private enterprise will yet succeed m working it profitably. We have confidence that with the result of former experience, and more econimical management, dairy factories will yet prove most important factors m the wealth-producing capabilities of this Colony.