FARMERS’ CO-OPERATIVE MOVEMENT.

South Canterbury Times, Issue 2448, 22 January 1881, Page 2

FARMERS’ CO-OPERATIVE MOVEMENT.

At a meeting of farmers held at Oamaru yesterday, it was resolved to form a Co-operative Association with a capital of £25,000, and power to increase it to £250,000; provisional directors being appointed. The proceedings were somewhat lively. Mr Bateman pointed out that under the Limited Liability Act it was necessary that thej r should define to what extent they would go in fixing the capital. Co-operation would do a great deal. There was no doubt but that they would find the future system of realising on their produce could only be done through an organisation of the kind suggested, and then they could only do it properly by steamers. He thought as the trade of New Zealand developed they would find people in the old country, and especially in Scotland, who would be glad to lay on a line of steamers to trade to these ports, and sailing vessels would be done away with, and therefore he considered it wise to reserve the power of making the capital large. What was to prevent steamers like those of the Orient line calling at Port Chalmers, Oamaru, Lyttelton, Wellington, and so on, taking cargoes to London, and filling up, with a cargo in seven or eight hours ? Time with shipping meant money. Since he had been here they had had a barque load-

ing for the old country, and he believed about six weeks in the Port. Tba!t barque should have been loaded in ten days with proper appliances and facilities. The interest on her cargo since she bad been here amounted to about twelve pounds per day, so tli at every day she remained here her cargo bad to submit to the twelve pounds additional interest. With steamers of large capacity the saving of interest alone by reason of the time saved in the voyage would be enormous. The best way would be for them to follow a course of. progression, and he would suggest that the capital of the association be fixed at £250,000.

Mr Fleming considered that before calling the meeting the projectors should have issued the prospectus and a list of directors, which should have been circulated among'the farmers. No one knew what the meeting was about. Mr Duncan —I do not think Mr Neil Fleming has been in the habit of naming his child before it was born. The Chairman : I think it would be well for the information of the meeting to get Mr Bateman to explain what courseTimaru took to float a co-operative society.

Mr Bateman : The proceedings were precisely the same as this, except that at the hist meeting I lectured, they appointed provisional directors in the same form as they now propose to do here.

Mr Fleming : I would like to know the plan of raising money for the preliminary expenses. The Chairman : Having asked that question, I shall be most happy to give you the information. I have a subscription list which I shall be ple.ased to lay before you. Mr Fleming: Yes, but before the actual directors are appointed, perhaps Mr Bateman will give ns some information about the preliminary expenses. Mr Bateman : I think the question an unnecessary one. Mr Fleming : Just so ; I think it is a most sensible one. May I ask you, are the provisional directors liable for the preliminary expenses of floating the company V Mr Bateman—Don’t trust them, sir; that is all.

Mr Fleming : Now my question will come in. What is to be done with the money already paid in if the company is not floated ; would it be paid back ? The Chairman : Most certainly. Mr Fleming : Would the directors guarantee tint ? I have been connected with similar undertakings where certain money has been expended, and never got a cent back because the money was consumed in preliminary expenses. The Chairman —Mr Fleming must remember that was done by Oarnaru business men, and not by the farmers. You will find there is more cash trade amongst the farmers. Mr Fleming said he had read Mr Bateman’s speeches, but could not see anything in them instructive to the farmer, as however theoretical they might be, he could not regard them as practical. Mr Bateman—My name has been mentioned, and in fair play I should be allowed to reply. Mr Fleming did not think so. Mr Bateman—lf you say I am to be muzzled I will sit down.

Mr Smythies said Mr Bateman could not say whether or not the farmers had understood him.

Mr Duncan —I know very well that the farmers have found, one and all, during the last year or two, that what you call the merchants of Oarnaru, have been experimentalising with the grain, charging a large price and making a muddle of the business. It lias been the talk of the district. Merchants have sent the wiieat by any sort of ship, and it was damaged before it was landed, so that the farmer, instead of realising a fair price, actually got less at home than he could get here. I can give several instances. We know for a fact that reapers and binders we are paying £75 for can be got here, if the organisation is carried out, at much less money. (Hear, hear-) Mr Fleming : I would like to know the practical part—how this is going to be done.

Mr Duncan : The practical part is this : We will employ a manager we have faith in ; samples will be submitted for his approval and classification, and no article that is not in good condition will be shipped. Mr Fleming: What will you do with the bad stuff ?

Mr Duncan : Give it to the pigs. We know for a fact we pay 50s a ton freight where the association would onty have to pay 40s. Mr Fleming—Where are you going to save the expense ? The Chairman —Instead of the profit going into the merchants’ pocket we intend to divide it among ourselves. After further discussion the meeting concluded with a vote of thanks to Mr Bateman, moved by Mr Fleming, and a similar compliment to the chairman, moved bv Mr Barr.—f Abridged from the “ N.Cb Times.”)