SOUTHLAND FARMERS' ASSOCIATION.

Southland Times, Issue 1335, 15 November 1870, Page 2

SOUTHLAND FARMERS' ASSOCIATION.

A preliminary meeting of subscribers and others interested in the Association, was held in the Council Chamber at noon on Saturday last, to determine the scope and objects of the Society, as also to transact other business connected therewith.Mr J. F. Dundas, Oteramika, as chairman, briefly introduced the business, after which Mr D. M' Arthur, Lorn Park, furnished a detailed statement of the steps taken to organise the institution. In all, 249 circulars had been forwarded to settlers asking their co-opera-tion in the matter. Of these, twenty - eight had been returned in the form of applications for shares, besides twentyone replies, the majority of which were in favor of the movement, and gave substantial reasons for non-acceptance of a pecuniary interest in the undertaking. The establishment of a similar society was under consideration at Biverton, and although he (Mr M' Arthur) had been informed that the Rivertou project was lately abandoned, the information had not been generally known, consequently many parties who were sure to enrol as members had held back in the meantime. The object aimed at by the Association was one of mutual protection. It was based on that sound system of commercial policy, of 'purchasing in the cheapest market, and disposing of produce in the highest one. A basis of constitution, prepared by Mr Thomas Denniston, Oteramika, was read and discussed, after which it was agreed that each clause should be put to the meeting in the form of separate resolutions. The first was moved by Mr Denniston, and seconded by Mr David M'Kay, Bay Bush, as follows .— " That a company be formed under the name or style of the Southland Farmers' Association (Limited), and that it be incorporated under the Limited Liability Act, I with power to amalgamate with any other Association having similar objects in view." It was stated in explanation, that the object in reserving that power waa to enable the Society to amalgamate with the one proposed to be established at Kiverfcon, so as to render the operations of the Association as comprehensive as possible. The explanation was approved of, and on being put, the motion was carried unanimously. Mr William Johnston, M.P.C., Bae's B»sh, moved, and Mr

Lyon, Flint's Bush, seconded, the next resolution : — " That the capital ;of the company be £5,000, in shares of £5 each; to be called up by monthly instalments of 5a per share." Mr M'A.rthur. explained that something like an eighth of the proposed capital had already been subscribed, independent altogether of the fact that not more than a third of the circulars had been acknowledged. He believed that they were perfectly safe in fixing the capital at the sum mentioned. Remarks of a similar nature were made by other gentlemen present, after which Mr James Harvey, solicitor, explained that by the articles of incorporation each member would only bo liable to the extent of the shares he subscribed for, irrespective altogether of any liability contracted by the company. The resolution was adopted. Clause three — '•That the business of the company be (1) to import or purchase in any market, and to sell by wholesale and retail any or all of the staple goods in common use and consumption by the farmer ; and (2) to receive for sale on commission all articles of produce, and to make advances on the same " — was moved by Mr John* ston, and seconded by Mr Lyon. On this motion a lengthened discussion^ ensued respecting the propriety of retailing goods to the general public, which was objected to on the ground that it inigtyt lead the society into direct competition with the general storekeeper. The objection was not pushed, and the motion as put was adopted. Clause four — ** That the . business of the company be conducted by a paid manager, an assistant, if necessary, and an unpaid directory of nine members, to be elected annually by the shareholders, three to form a quorum " — was passed without comment. Clause five, proposed by Mr P. Nicholson, Loanend, and seconded by Mr M'lvor, Waikivi— " That all sales by the company be for .cash, and that a bonus (to be hereafter determined), on the net profits be paid*to purchasers being shareholders on the amount of their purchases." On this motion a lengthened discussion took place regarding the propriety of allowing purchasers who were not shareholders to participate in the bonus. The proposal was objected to on the ground that the society would be in a position to sell goods at a more reasonable rate than the general merchant, consequently that should be deemed a sufficient inducement to bring outside custom to the store. The question was not pressed to an issue, and the motion passed as framed. The last clause — "That in the event of the capital of the company being increased, the shareholders should have the preference of the new shares in proportion to the stock already held by them," was also adopted. The remainder of the business transacted was the appointment of 'Mr D. Macrorie, auctioneer, as secretary » after which the meeting adjourned till the evening. of the 7th prox., the night preceding the district agricultural show.