PROPOSED FREEZING WORKS.

Taranaki Daily News, Volume LVII, Issue 267, 21 April 1915, Page 3

PROPOSED FREEZING WORKS.

VIGOROUS CANVASS ARRANGED. STRONG EXECUTIVE APPOINTED. The proposal to establish co-operative meat freezing works for North Taranaki was advanced a further stage yesterday, wlien a meeting of delegates, who hail been appointed at meetings held at various centres, was held at Inglewood, There was a very'representative gathering front all parts, there being present: Messrs. J. T. Quin (Eltham), A. W. Budge (Stratford), E. Walter (Douglas), W. A. MeCutehan (Whangamomona), and C. F. Young (Tarikil (members of the Provisional Committee), and the following delegates: .Messrs: P. Willcox (Rahotu), M. Fleming (Pungarehu), C. Sole, J. Burgess (Warea), W. >T. Gray, Hunter (Okato), W. Hoiicyflcld (Tataraimaka), A. H. Haleombe, R. H. Pigott (Urenui), Martin (Pukearuhe), T. McKenzie (Tikorangi), C. Barnitt (Uruti), H. P. Best (Eltham), J. Brown (Inglewood), A. Morton, H. de C. Beauchamp (Egmont Village), A. C ' IT. Sander Tarata), C. Ansforl ('7orito), P. A. Openshaw, E. W. Wlieatlev. H. B. Lepper, J. Digging (l.eppcrton), Newton King (New Plymouth), D. Tweedie (Awakino), R. Scott (Okau), F. Jones (Kotare), and A. B. Gamlin (Inglewood). CHAIRMAN'S REVIEW. Mr. J. T. Quin was voted to the chair, and stated that the main business was to see what progress had been made regarding shares. He understood that the total number of shares applied for from various districts amounted to 435G, without practically any canvass. The meeting would have to decide whether it would be advisable to appoint paid canvassers, also whether they snould go on with .preparing the prospectus and have printed applications for shares ready so that the applications eould be signed at once, and thus save going over the ground at some future time. The articles of association would also need consideration. One important matter was that of the voting power. Personally, he favored county franchise—namely, one vote up to twenty shares, two votes up to fifty, with a maximum of three votes. This might prove a contentious matter, as some might argue that the big shareholders should be given greater voting power. Regarding the qualifications for a director, he did not favor any limit, as the man with one share might have more brains and ability than the man with a hundred, and it was necessary in the • interests of the company that the best men should be on the direc- ! torate. Regarding the canvass, he i pointed out that whatever was decided . must be decided quickly, otherwise no- j thing could be done this year. An imprest supply account would also have ' to be arranged for, so that small ex- ■ penses &>uld be met. He and Mr. King would be willing to guarantee this ! account, and if the company was not ! floated a levy would be niade on ap- j plicants pro rata to the number of shares applied for. He did not know whether it would be better to appoint paid canvassers, or for the delegates to undertake the work. I MORE " PUSH " NEEDED.

Mr. MeCutehan expressed disappointment at the general results so far. He did not consider that the committees appointed at the various meetings had interested themselves «uiliciently in canvassing their districts at sales, etc. A few portions of the district had been canvassed, but a considerable radius had not. In view of the urgency and importance of the matter, he thought greater efforts should have been used. However, it was not too late yet. The question was whether, with 4000 shares guaranteed out of a minimum of SOOO, they should go on, and he personally thought they should. lie considered a voluntary canvass by men well known in their respective districts would lie ten times more efficacious than by paid men. Each man eould do his allotted share in a few days.

Mr. W. Honeyfield (Oakura) expressed his willingness to canvass his district. Mr. C. Sole (Oaonui) favored paying a man, as settlers might not have the time or inclination to canvass their districts.

Mr. Martin (Pukearuhe) said that he had canvassed part of his district, and had :Il' share/ to add to the list. Farmers would take more notice of one of their ov.-n number, as they generally regarded a paid canvasser as "a fiend." He urged the delegates to get busy. Mr. Willcox (Raliotu) also preferred delegates undertaking the canvass. Mr. Tweedie. (Awakino) did not think the people of his district had realised what was required. He was prepared to do his share.

Mr. H. Sander (Tarata) handed in a list of 107 shares from his district, and remarked that all but one 01 two had taken up shares, and that some had expressed their willingness to take further shares if necessary. Mr. M. Fleming considered that a paid canvasser would do the better work. He pointed out that the shares already applied for were got easily, the others would require some getting. He considered that a sensible man sent into a strange district would get better results than a resident of that district.

Mr. 15. Walter (Toko) said that it was for the meeting to decide whether it was worth while going on. Tiie Press had given the matter loyal support, and had written articles urging the farmers to support the project, but the response had been .very poor. Many had taken shares on 'the basis of one for every 100 acres, which was unreasonable. •A CHEERIER NOTE.

Mr. A. Morton expressed, his regret that there was n feeling of disappointlueut, which personally he did not share, because In- recognised that as yet no attempt had been made to canvass any portion of the district thoroughly. One or two parts of the Inglewood district, such as Tarata, had been canvassed, and the response had been good; in faot, practically every farmer had taken up shares. He felt that with a systematic canvass the Inglewood district would take up 10(111 or ir>o(: shares and that 3(1(11) shares would be taken up between Xew Plymouth and Opunake. He hoped that the meeting would not be imbued with feelings of disappointment, as h«' was certain that no thorough attempt had been made to find the feeling of the district. There had been no refusals

at the meetings he had attended. He considered that the dairy farmers had responded well, and if the graziers and those interested in fat stock gave the same response the company would easily be floated. He deprecated paid canvassers, 011 the score of expense. ■ » Mr. C Young asked for an expression of opinion as to whether "dry'' shareholders would be admitted, but the chairman ruled that that matter should be discussed later. DELEGATES TO CANVASS. Mr. Martin moved that the delegates wait on the various farmers in their respective districts with a view to increasing their shares or taking up shares in the company. This was seconded by Mr. Scott. Mr. Budge suggested that delegates not having time eould appoint a substitute. Mr. E. Walter urged that a canvasser should be appointed in conjunction with the delegates to attend sales, etc., Mr. Fleming moved, as an amendment, that paid canvassers be appointed in the various districts. Seconded by Mr. Sole. Mr. Newton King considered that in some districts paid, canvassers were not required, but in others they were absolutely necessary. Theoretically, delegates were the best, but every delegate was not a good canvasser. Both resolutions were withdrawn, and on the motion of Mr. Martin it was decided that the delegates should be given another fortnight in which to canvass, and that thereafter paid canvassers be appointed. Mr. MeCutehan considered that men should not undertake positions requiring a display of energy unless they were prepared to carry out their duties. He had j thoroughly canvassed a district where j the tracks were bad and settlement was remote, and- he could not see why other parts had not been canvassed where the roads were good and the settlers were not so scattered. He urged every delegate to put his utmost energy into a work that was most important for the whole province.

EXECUTIVE. The chairman considered that it would be advisable to appoint an executive, and thus save calling the whole of the delegates together, and on the motion of Messrs M. Fleming and Jones it was decided to appoint an executive of seven, the following being elected: Messrs J. T. Quinn, Newton King, Arthur Morton, A. W. Budge, W. A. MeCutehan, J. "\Y. Martin, and M. Fleming, It was resolved to take out an imprest supply account in the Bank of NewZealand, the chairman and Mr. Newton King being guarantors. DRY SHAREHOLDERS. Considerable discussion ensued on the question of dry shareholders, but the matter dropped without any action being taken.

BASIS OF ALLOTMENT. The meeting discussed the basis of allotment of shares. At the first meeting in Stratford it was decided to proceed to allotment when 8000 shares had been applied for. Later, the committee decided to increase the minimum number to 12,000. Comparisons of prospectuses of other companies showed that they had proceeded to allotment on 7000 shares. Mr. Willcox accordingly moved that this company do likewise," but the proposal did not find a seconder.

Mr. Morton moved that the company proceed to allotment when a minimum of 8000 shares has been applied for. This was seconded by Mr. Scott and carried, after an amendment for !)oro shares proposed by Messrs Best and :"ile had been lost.

The basis of payment suggested bv the provisional committee, viz., (is on aihtinent, 0s on application, and (is at intervals over a period of two years until £3 is paid up,. was adopted. ARTICI.ES OF ASSOCIATION. The articles of association were discussed. It was resolved that the holding of five shares or more should be a qualification for a seat oil the directorate. _ On the motion of Messrs Halcoinbe and King three hundred was fixed" upon as Mr. F. P. Uniacke, at Stratford, before the maximum number of shares that one shareholder eould hold. With a view to preventing the accumulation of a number of small shareholders' interests, Mr. MeCutehan moved that no out} be allowed to purchase the shares of more than three shareholders. This was seconded by Mr. Burnett, and carried. The mover stated that while such an accumulation might not increase a large shareholder's voting power, it would decrease the voting power of the smaller shareholders, whose interests must be safeguarded. The desire of the company was not to pay big dividends. The question of voting power was touched on, but was left to the executive to decide after they have obtained information on the matter from similar successful companies.

Mr. Walter considered that the articles of association should provide for shareholders having preference. THE CANVASS. The whole of the district was apportioned out, and each delegate was allotted a section which he undertook to canvass and submit the results, together, with general prospects, to the secretary, Mr. F. P. Uniacke, of Stratford, before May sth. A meeting of the executive will be held at Inglewood on May 7th to further consider the matter.