GREYTOWN FRUITGROWING COMPANY.

Rangitikei Advocate and Manawatu Argus, Volume XXXIV, Issue 9176, 20 June 1908, Page 7

GREYTOWN FRUITGROWING COMPANY.

The first report of the Greytown Fruit-growing Company, to be presented at a statutory meeting cn Wednesday next, states that the subscribed capital of the company is 5020 shares of £1 each. Out of the £IO.OOO of nominal capital it is -e intention of the directors to j/' : >o tho balance of the capital now -m----subscribod on the market from me to time as occasion ansos. ‘Air present requirements the dirooiors consider the amo nut of now subscribed sufficient. As soon company was registered the directors completed the purchase of 518 acres on Moroa at £7 10s an acre. This was financed by obtaining irom the Bauk of New Zealand an adavnee, with a limit of £SOOO, secured by a [mortgage of the property and of the uncalled capital, and by a guarantee of the directors, at a reasonably low rate of interest. The directors have decided to plant 50 acres this year, and let the balance of the land at 9s per acre, with a right to resume any portions required for planting. The rent pays the interest on purchase money of the land. The 50 acres to be planted have been fenced and rabbitnetted. They are now being ploughed preparatory to planting. Some difffficnity was experienced in getting the ploughing tendered for, hut this was overcome largely by the generosity of Messrs W. O. Bnchnan and O. J. Jury, who lent horses suitable for the work. The directors have arranged to plant the 50 acres in apples—half Jonathan and half stunner pippin—and have obtained from a Hastings nursery the necessary trees. These trees will be properly fumigated before planting. The directors have secured the services of Mr D. S. M‘Leod, of Hastings, who will plant the trees and periodically visit the orchard for the purposes of pruning and other necessary treatment. The directors themselves will supervise the working of the ground.