The Te Aroha District Cooperative Dairy Co. Ltd.

Te Aroha News, Volume XXII, Issue 42771, 29 August 1905, Page 2

The Te Aroha District Cooperative Dairy Co. Ltd.

EXTRAORDINARY GENERAL MEETING. An extraordinary general meeting of the above Company was held in the Public Hall, Te Aroha, on Saturday afternoon last, for the purpose of c infirming a resolution to amend Article 16, of the Company’s bye-laws passed at a generf 1 meeting of shareholders held on August 7th 1905. 'the resolution wus as follows: That Article 16 be amended by adding at the end thereof the words *• but excluding the amount of butter-fat exceeding the ’ 165 lbs. per share held by each share, holder.” The resolution was confirmed on the motion of the Chaiiman, and carried unanimously. Article 16 reads a follows:—16 Subject to such dividends as may from time to time be declared, and I after due provision has been m tde i reserve fund to meet contingencies, ; or for replacing and maintaining the works connected with the business of the company, the whole of ihe net profits of the company, should be i divided amongst and paid to the share- 1 holders of the company in, proportion* to the value of the butterrfat cstwaJlß • supplied by them individually company as shown by the company’s books, (here follows the amendment.) Mr Stanley then asked on behalf of several shareholders, what would he the position of those who, in a good season supplied au amount of butterfat above the 165 lbs. He understood that on any excess they would forfeit the bonus. To this the Chairman replied that they did not take into ac~ count small differences, but if a supplier had, during the season, brought in a large amount of butter fat in ex- • cess of the 165 lbs per share, then it> : was only fair to expect him to take up more shares : he would thus get the benefit of a bonus on the full amount of his supplies. They were now doing their best to encourage anyone to bring along milk, as they wanted at much as p »sßible brought in. It was also corn* tended that if a man bought a large amount in excess of the 165 lbs, he was takiug up use of the machinery, and it was only right that he should be • expected to take up more shares entiling him to that use aud also to the :|-y ; full benefits of the bonus. ; ’ ;r: Afterwards the question of a w aggon was discussed, and it was decided that a suitable one should be built for ; them. This concluded the business, : r iS