OPUNAKE NEWS.

Taranaki Daily News, Volume LVII, Issue 1, 20 May 1914, Page 7

OPUNAKE NEWS.

101 i Tfl-li FARMERS' CO-OPERATIVE SOCIETY. I i (from Our Own Correspondent.) | Tfce directors vi the Taranaki Far- ' uors' Organisation Society attended a neeting of shareholders at tiro Town lull, Opiinake, on- Saturday afternoon, "here were about WO fanners present, ' he' meeting 'being representative of the .istrict from Pungarchu to Awatuna. ' Ir Alex. Hunter (chairman wf directors) . ■resided, and said the society intended o make haste slowly and develop as apital was available. They had made ' rmngements to do banking business for , torcW.dors, paying five per ci nt interest 11 fixed deposits; had already an eslab- . Lshed auctioneering business in Ilawera; ' iad accepted an agency for all classes of iiraiiaig machinery, and intended pushing , he Fanners' Mutual Fire Insurance lolmpany in preference to any other in- j lira we agency as they looked, upon the Tutiial ais one of their own concerns. ; 'hey hoped at a future date to indent ;■ ortilisers. j Mr Jackson, the local agent, stated , e was promised by the directors that ! f sufl'iccnt capital was subscribed in ; his district the association would erect ; aleyards and start a small store in 1 Ipii'mike. Ho was prepared to fulfil the . ironiiso, and had been successful in the ■ ale of a large number of shares in ex- j icctation of a start being made in ipunakc. _ i Mr Cocwibridge (representing this das- j riet on the directorate) said ">()() .-hares , iad been taken up in this district at the j hue of registration, ard they wanted i iOfl, or thereabomts, to make a start in j )|!iinake. | Mr Coniiglon brought up the subject of ■ . farmers' bank and the necessity of j lavting one right away. The chair- ' _ nan replied that the association had i.i<le arrangements in that line. Mr Wright expressed the opini.ni that i-lic-n the wealthy directors tnrik up mly three shares in the provisional pros- | iccitus. this gave the imprcsswrn that J hev had not imich faith in it, and. other hareholdors took tliSs view and did not ,ake u]) aw inanv stares as tihev othervise would have d<mi" had the affair grit : good start from the oriental directors. ' It was pointed wit that the nrnsnee- ' ,ns was mislead.insr in this connection, is the qmilideation for a director was wide three shares, and Wed in as Riieli )y the solicit™ - , whereas the iihiiilh"V held .ndi'vidnally was decidedly miwo. A further number of '-hare* were [aken up in the room, fviflVicnt lo warrant the directors viewing prospective sites for a sal.eya.rd. Tt is on the. cards Miaf, an 'offer will lie nmdo to lmv the local ngeiicv of the N.Z. T.nnn a.nd Mercantile Agencv To. At t.he conclusion "if + 1 ""' )iiccl ; n<? Mr Allan pro|»'we«l ». Imi.'lr vole of thanks to the di'-retn's f"v attending the meeting Tin? \v>=< c.vvicd by acclamation.