POULTRY COMPANY.

Taranaki Daily News, Volume XXIII, Issue 215, 17 September 1901, Page 2

POULTRY COMPANY.

t has been decided to form a tive Poultry Company for Patea and surrounding districts. The people interested are taking the matter up hfartily. The following is the financial basis suggested by the committee appointod to report on the matter:

—" Your committee consider that the nominal capital of the company should be £IOOO in 1000 £1 shares. The total cost of plant and building capable 'of handling 7000 birdi per annum would be less than £7OO, but for the first.year £3OO would be more than sufficient. There is, we have every reason to believe, no difficulty in raising tbe necessary capital, for the monay would be advanced on the shareholders accepting the liability for the amoun* advanced in tbe same manner in which many dairy factory companies have been financed. Further, considering the large number (compared with dairying) who will participate, thrliability would be distributed ovorsuch a number as to make tbe responsibility of the individual shareholder ptact.ically nominal. Further, it must be remembered that in tbe event of a guarantee being called up the shareholders have the whole of the assets to fall back upon. It is of course beyond our province to enter into even a provisional agreement as to finance, but we can confidently state thit tbe matter can be arranged on the basis above indicated. The committee in this connection further recommend that none but suppliers be shareholders; that no business be undertaken until at leist 50 suppliers have signified their willingness to become shareholder; that each shareholder be asked to make himself liable for his equal share of the company's overdraft (but not in any case to exceed £10) until the completion of the first year's work, when the shareholders should be allotted prorata to the amount or value of produce sup plied on such basis as the provisional ; directors may determine; that the produce of non-sbarehoideis be handled, but at an increased rate as compared with that of shareholders; and that after three months from the commencement of the business of tbe company the price per share be increased by 15 per cent. Co then non•shareholders."

POULTRY AND EGGS FOB SOUTH AFRICA. PBB PBEBS ASSOOUTIOK. Wellington, September 16. The shipment of frozen poultry made to Durban by the Agricultural Department; on behalf of various firms arrived in splendid condition and on a good market. The birds readily sold at 6s 7|d a pur, which left a good profit. The Department has been asked for quotations for a large consignment of frozen fowls, ducks, geese, and cock tm knys, to arrive in Durban in the middla of November, but co boat is available. Arrangements are bang made by the Drp\rtraent to send a trial shipment of eggs to South Africa in the next steamer.