The Co-operative Store.

Taranaki Daily News, Volume XLVI, Issue 184, 8 August 1904, Page 2

The Co-operative Store.

AMALGAMATION PROPOSALS REJ ECTIOD. There was a very largo meeting of shareholders in tho New Plymouth Co-operative Society on Saturday in the Town Hall. The meeting was called for the purpose of confirming tho resolutions of July 20th, approving of a proposal to anwl|;|unate the society's business with that of Mr C. Carter, retaining his services as managing director. In the absenco of Mr J. B. Connott, chairman of directors, Mr Wolls took the chair, and called on Mr Samuel to address tho shareholders. Mr Samuel explained that he had been retained as counsel by the society's solicitors, Messrs Govett and Quilliam. On their advice he suggested that tho meeting be adjourned to August 20th in order to give the shareholders an extended opportunity of considering! the proposals, A letter from Mr Carter was read, suggesting this adjournment, and stating that he could not go on with the scheme unless, it. were heartily endorsed by the shareholders. Tho Chairman moved, and Mr Morris seconded, That this meeting be adjourned until August 20th. Mr Bakewcll objected to the motion, as he would like to hear the matter discussed. The Chairman Said the matter was open for discussion. Captain Gibson objected to the motion. Tlio directors had been given twelve months' trial to carry on the business, and they had not submitted any balance-sheet to the shareholders. In fact, they had not taken the shareholders into their confidence at all. Messrs Were and Watkins thought it would better to adjourn until a balance-sheet had boon circulated. Captain Gibson moved an amendment, That this meeting do not confirm the resolutions of July 20th, approving of the -amalgamation. Mr Uakewell seconded. He made a long speech in which ho detailed a scheme for re-organising the butter department. Mr Warren criticised the previous speaker. Mr Uakewell evidently thought the butter department was the weak spot in the society's operations, but in tluj grocery was w.hcro the fault lay. Mr Andrews supported the amendment, and Mr Wore followed in a similar strain. Mr Wade said that if the amendment were carried the business would probably be wound up. The amendment was then put and carried, amidst cries of "For the old Co-operative Society," the show of hands giving 32 in favour and 10 against. 1 The meeting adjourned.