Oil and Fibre Company.

Patea Mail, 25 September 1882, Page 3

Oil and Fibre Company.

The first meeting of shareholders in the Patea Oil and Fibre Company limited, after formal registration, was held on Saturday to elect directors and transact Other business. There were present Messrs Ji Sheild (in the chair), J. Burke, Riseley, J. Richards, E. C. Horner, Gibson, Norman, Taplin, Ball, Barton, Barker, Honeyfield, Sherwood, Milroy, W. Balmforth, Palmer, Shaw, and W. Oowern (secretary). : The directors provisionally appointed before registration had to be superseded by seven permanent directors. Twelve were nominated, and the result of ballot was as follows :

VOTES. Sheild 41 Oowern ... 37 Barker ... ... 37 Gibson ... ... 33 Riseley ... ... 33

R. Horner... ... 28 Honeyfield ... 27

Burke ... ... 17

Syraes ... ... 13 Sherwood... ... 13 Taplin 9 Haraerton... ... 3

The first seven were declared elected,

, Mr E. 0. Horner was appointed auditor for the year, at a fee of two guineas. Resolved that no remuneration be payable to directors.

The Secretary’s salary was fixed at £2O for first year • and a vote of thanks was accorded to him “ for his energy in Working up the company to its present position.” Proposed by Mr Barker, seconded by Mr Sherwood, and agreed to, that the Secretary be allotted five shares fully paid up for his services in starting the company.' The Secretary explained that the shares taken up and otber business done were all fully recorded up to date, a set of books being opened for the purpose. ,

Offers of sites suitable for the company’s proposed factory are to be sent in by the end of this month. A meeting of the new directors will then be . held to deal with the same, and arrange for commencing operations. Premises will have to bo erected and machinery ordered. Farmers in the district will see in these [proceedings a substantial guarantee that all the linseed they may grow this year will be bought by the company on the terras already offered.