FACTORY IN LIQUIDATION

Sun (Auckland), Volume I, Issue 158, 24 September 1927, Page 5

FACTORY IN LIQUIDATION

NOT SUFFICIENT SUPPLY A special meeting of suppliers of the Cheddar Valley Dairy Company was held yesterday to consider the question of supplying and keeping the factory going. Mr. F. J. Savage presided. He explained that some suppliers had made up their minds to go to Opotiki, and in consequence the directors had called the suppliers together to see what should be done. Mr. Savage pointed out that it was no good trying to carry on if suppliers continued to drift away, and unless assured of a reasonable supply of butterfat it would not be advisable to carry on. He also stated that the factory could not be run on a more economical policy than had been in force. No directors could do more than the present directors had done. In comparison with other factories, the difference in payment was too great, and suppliers could not afford to take less than what other factories? paid. After a long discussion, during which speakers showed they were quite satisfied with the management, the chairman move I that the directors .take the necessary steps to go into voluntary liquidation. This was seconded by Mr. L. MacDonald, and carried unanimously. A meeting of shareholders will be called at an ea.rly date to consider liquidation.