MOA DAIRY COMPANY.

Taranaki Daily News, Volume LII, Issue 372, 25 April 1910, Page 7

MOA DAIRY COMPANY.

QUESTION OF VOTING POWER

There was a very large attendance of suppliers of the Jloa Dairy Company at the. Parish Hall on Saturday ito consider the question of altering the voting power so as to be based oil the amount of milk supplied, instead of on the basis of the number 01 shares Held as at .present. Mr. D. Herlihy, chairman of directors, presided and stated that the meeting was convened for the following purposes:— I (1) To confirm, the following resolu-i tion passed at an extraordinary general meeting of shareholders: "That the resolutions, for the consideration of which this meeting was called, be carried, sub-: ject to Article No. 4 of the Articles of Association toeing altered so as to make the voting power on. the milk supply. ! (2) To consider and pass the lollow- 1 ing special resolution: "That the para I graph in Article No. 4 of the Articles' of Association, which reguhvtes the mini • iber ,of votes of each memiber, be struck; out, and the following substituted:' 'Kvcry member shall have one vote for every 132%1b of milk supplied by 'him' up to 5301b; he shall have an additional, vote for every 2651b beyond the first 5301b up to 20501b, and an additional, vote for every 13251b beyond the first! 20501b.'" Votes to 'be calculated on the: maximum quantity of milk supplied fori one day. j

The first resolution he stated was merely a formal one, and was brought forward for confirmation. He proposed that it be confirmed. This was seconded by Mr. Staekurski and carried. In proposing the second resolution the chairman stated that the voting ipower would be based on the amount of milk supplied, and not on the number of shares held, although shares would still have to be held in, proportion to the number of cows milked. Mr. Geo. Haslett seconded.

Mr. Haverbier started that the voting power was based on two systems at present. Dudley Road and RatapiKo bad more voting power in proportion to the milk supply than Kaimata and lnglewood. If the present resolution was carried all would vote on the quan-l tity of milk supplied, and if the two: new creameries come in they would nave, exactly the same benefits as the older one. It was necessary to get the resolution carried before the Articles of Association could be altered. ferson-. ally he .thought the system proposed so complicated that the ordinary supplier would not .know his voting power. Mr. Todd said the simplest way would be to give one vote up to 5001b supply, and one for every additional 5001b up to 20001b. Then everyone would know his voting power at a glance, and not be dependent upon the secretary. The chairman said this simplified matters, and it was a pity it was not thought of sooner. Mr. C. Old asked if it could he amended. The Chairman: The secretary tells me I can take an amendment. Mr. Thirwell said he would like to an amendment to the effect that the voting be calculated on a month's average, and not on one day.

Some discussion ensued as to whether an amendment could be taken, as the meeting was called lor a specific purpose. Mr. W. 11. Leech asked the chairman for a ruling. The chairman said he was not competent to give a ruling. When it came to the working of the factory lie was all right. Messrs. C. E. Dobson. and Geo. Haslett moved that the resolution be passed. After some discussion as to amendment Mr. W. H. Leech stated they were only wasting time. The Chairman: "A pity you did not think of that before." The meeting then got considerably cut of iiand ; all speaking at once. ■My. Macki'c asked lor "a ballot to be! taken on the subject. The meeting appeared to 'be "in a .bog," j as one members expressed it. when Mr. W. G. Malone was noticed at the back of the hall, and was called on to give an opinion on the question. The meeting went into committee whilst Mr. Malone discussed the matter. On resuming the following report was given:— (a) That it recommended the company to take the necessary steps to alter Articles 4 and 5 of the company's amended Articles of Association, and ! (b) That all alteration of the Articles must be under the provisions of the Company's Act 1008, Sec. 01, a:id can | not be made under Article 11 of the company's Amended Articles of Asso ■ ciation. I

The amendment was then brought ior-i ward that the voting power he one vote for every 500! h. up to 2000. , On the question being naked whether voting should be by show of hands or by 'ballot, the latter was asked for. I Several suppliers then deft the room. While the ballot papers were 'being pre ! pared, a resolution was passed that a committee .consisting of the directors and Messrs. T,odd, Ilopson, Haverbier with the secretary and Mr. W. U. Ma-! lone, be appointed to arrange about altering the Articles of Association and draft a resolution on the voting question, to be passed by a further meeting. I After some further argument it was decided to adjourn the meeting, as they would, 'be no further forward if this meeting passed the amendment. Two meetings would still ibe required. Some members suggested that one-man-one-vote would simplify matters. A vote of thanks was accorded to Mr. Malone for his attendance. NEW CREAMERIES.

The chairman said the creamery men had not had a fair hearing. They h;ul | petitioned the directors for creameries at Waioregona and Manga one, but this' .side issue of the voting power had de I laved matters. He would like an expression of feeling as to whether the directors should call a special general mooting, so as to give them u- "tair kick at the nail." The meeting was unanimous In assenting. Mr. Jensen (Mangaone) said the matter was now put back a month, and they were ilosing opportunities that had been] offered them by other people. The com-J pany had got in a bog and wanted tliom [ to extract them. \ The Chairman: "I can't grant that vonr humble .servant would not. allow, the Moa Dairy Company to get in a bog." He had only spoken out of sym-j pa thy with the. creamery men. to .get! Hie feeling of the meeting (before the; benches were empty. It would be use-! less going on with the matter at that stace" as" a three-quarters majority of snpnli«rs was required, and there was] not' that manv present. ' Mr. Henwopd (Waiongona) thanked■ the chairman. , I