Page 2 Advertisements Column 5

Taranaki Daily News, Volume XXXXII, Issue 20, 15 October 1900, Page 2

CO-OPERATIVE FREE2INB OF BUTTER ANO BTORAGE OF CHEEBE FOR lAKANAKI.

Thb following circular been aenk to the Chairman, of Dairy Oompaniss To the Ohairman of ~,,,, Dairy Factory Company, Dear Sir,—A movement has far some time past been in progress towards acquiring the Moturoa Work* 1 on behalf the Dairy Factoriss and othsr actual producers and shipper* of Batter and Cheese, so that the control of the produce from its manufaoetire to ment and all that it may ipiliinmij be in the hand? of the produoers. Two Conferences have been held la Strathave been wall attended, and very notably by repreeentativee of of someiof the largest 00-operativt Factories, who are warmly in favour «f 1 the project. The actual poiitaw now is as follows:—The Moturoa Works and all pertaining to them cost £13,548, but have been written down by the Motnroa Company to £9,118 after fivo years' existence. Very large profits have bsen made by the works, amounting for last year alone to more thu £4,000 net on paid-up J £6,000. Tbe Moturoa Directors have expressed their willingness toreooamead their Shareholders to sell to the dairy producers at the actual cost of £ 18,548 if the latter think that lit would be to the advantage of tbe Dairy Industry that they should do so. The Producers' Committee appointed to negotiate the matter regard the sun as excessive, and have had a carefal and expert valuation made, which shows the present value to be £11,675. The last meeting »f Producers held in Stratford on October 4th, authorised the Committee to negotiate for the purchase of the works on that basis, and you are now asked to obtain the promise of your Company's support to that purchase. It is proposed to font a limited liability company with a «pit»l of £15,000 to £20,000 in £lQjiberee, which would be subscribed by the Dairr Factories and ether 'shippers on the basis of last year's output. Your Committee believe that the necessary capital can be obtained from the Banks upon the oapital .being subscribed and a guaranty® given by fiph Company for tho amount of its sham in the Freezing Company (not a joint and several), a mortgage being given over the Works, as collateral security—in fact in precisely the same M our Co-operative Dairy Companies are financed, the capital bsing transferred from the Bank to the shareholders by regular pro rata levies on the produoe, in the sime way as the usual deductions por lb. of butter-fat. It k suggested that each Company take up sharos on the basis of their annual output, at tho rate of, probably, one share for every five ton of butter, or in the case of a cheese factory, for every tea tons of cheese. Will you kindly oonsult your Direotors at tho earliest possible moment and let me know whether your Com' pany supports the movement and [undertakes to subscribe its share of the Hulrcd capital. Tho desire of tin uommittee is to complete the purchase In So °r I® if »to be don. at all. I should therefore be glad to receive your reply on or before the 25th October.—Yours faithfully, Joseph G. Habkness, President National Dairy Association. Chairman of tho Producers' Gommitteo. Midhiret, Oatober sih, 1900.

A TESTIMONIAL KltO.M 01.11 ENGLAND "I consider Gliumk'rlam'a (tough Kennedy the lwst in lilio world for Niyg Mr. William iSiivorv, of \Vamti(,'(un, Krglaud. " It, lias my wife's Ufo.nbc havinglxscti a martyr to bronchitis for ovur six yearn, lining most of flic time eonfinid to her Iwd Slio is now 'i,uitc well." Sold bv New Wu, CVopsraUvc Society,—