PROPOSED FREEZING WORKS.

Taranaki Daily News, Volume LVII, Issue 273, 28 April 1915, Page 4

PROPOSED FREEZING WORKS.

MEETING AT OMATA. There was a very fair attendance at the Oniata Hall last night at the meeting called to discuss the proposed establishment of co-operative meat freezing works for North Taranaki. Apologies were received for the absence of Messrs H. Okey, M.l'., c >ind Newton King. Mr. Ji. R. Bayly was -voted to the chair.

Mr. S. \V. Shaw, w?io was present from New Plymouth, in outlining the proposal as reported at various meetings, stated that there could be no opinion but that the establishment of another works would be to the benefit of the farmers. Lack of competition was always a drawback. The difficulty of getting fat stock into the works reacted on the holder of stores, as if the fat cattle holder could not get Jiis stock through the works he was unable to buy stores. Regarding the finance, he stated that one bank manager had offered to find £50.000 if the settlers subscribed £50,1)00. He was fully convinced that there was room for the two works in I 'the district. He urged those who canvassed for shares not to be halfhearted. An. energetic canvass should result in 1000 to 1500 shares being taken up between Rahotu and Omata. He outlined the terms, of subscription, which meant that £3 per share had to be paid up over a period of eighteen months, lie thought that a minimum holding of five shares should be fixed. Mr. Honey field said he had canvassed his district'during the last day of two and had received applications for about 200 shares.

Mr. D. J. Hughes asked if dry shareholders would receive a fair percentage for their money. Shareholders who supplied the works would get their benefits directly, and it was only right that those who did not supply should at least get interest, even if it was a little under current rates.

.Mr. Shaw stated that though the mat- , tor had nut been settled, he certainly considered that dry shareholders should he encouraged. He enumerated several successful companies that included dry shareholder* among their number. After further discussion as to the proposed site, preference to shareholders pro rata, and the effect the proposed works would have on bringing Home boats to New Plymouth, it was resolved, on the motion of the chairman, seconded by Mr. 'S. Victors: "That this meeting supports the proposal to the 'best of its ability, and that those present will take as many shares as they can manage." Eighty shares were then taken up in the room, and the delegates appointed (Messrs J). Pen warden and E. R. Bayly) "will make a vigorous canvass of the district Votes of thanks to Mr. S. W. Shaw and the chairman terminated the meeting. .