ANOTHER LOCAL INDUSTRY. Auckland, Sept. 19.

Te Aroha News, Volume VI, Issue 301, 22 September 1888, Page 4

ANOTHER LOCAL INDUSTRY. Auckland, Sept. 19.

The e&tabli&hment of a Fruit-preser\ing Company has for some time past been under serious consideration by the fruitgrowers of Northcote and Biikenhead, and last evening a meeting 1 was held at the Zion Hill fechoolroom with this object in view. Mr E. White pre&ided. A prospectus was submitted by the Secretary, Mr Johns. It was stated that the promoters had entered into conditional ai rangements for plant and manufacture by contract, and that on a careful estimate ot last year's working by the manufacturer a clear net profit ol 12^ per cent, for 2£ per cent, was shown, of which the manufacturer undertakes to cover all working expenses of the Company for the first year, receiving 50 shares for that guaran-. tee Arrangements have been made to allot shares to fruitgrowers, for which payment can be made in fruit, and promises of orders are to hand for the coming season. Mr Johns estimated that they could produce for 4s 9d what they could sell for 5s 9d,'and he promised that if they threw the work upon his shoulders the entire salaries and working expenses would be covered by 2^ per cent, on the amount of the business transacted. If £1,000 worth of business were done tho working expenses would not amount to more than £75. Mr Porter moved, " That the prospectus as submitted by the committee be adopted." , This was seconded, and, after some discussion, agreed to. Mr White was appointed T»eaf»urer % and Secretary pro tern, and MessrsKaye', Faulkner, White, Wilson, Jack, Porter, Johns, Parrish and Brooking were appointed directors. "A number of shares were taken up at once, making the total number purchased 300.