PROPOSED AMALGAMATION.

Taranaki Daily News, 4 August 1917, Page 4

PROPOSED AMALGAMATION.

KAUPOKONUI AND .TOLL'S FACTORIES. A large meeting of sharchplders of the. Kaupokonui and Joll's Diliry Factory Companies was held at Man'aia on Wednesday, Mr. J. S. McKay (chainnan of the Kiverdale Dairy Co.) presiding. The meeting was the outcome of ineetino's recently organised by Mr. Lye, a director ot the Joll's Company, to endeavor .to bring about the amalgamation of the two companies, and was called' by the chairmen of the two respective inter-' osteel companies. Mr. W. D. Powdrell, chairman of Kaupokonui, in a lengthy and comprelumsivc address put the case for amalgamation, showing in detail 1 ; the economies that, lie asserted, could thereby be effected, and outlining the nature and the value of the large reserves that Kaupokonui bad built up since it started operations 1 , and which would be shared by the Joll.Co. in the event of amalgamation. . ':. Mr. Jl B. Murdoch, cliairman of Joll's, replied; at some lengtl/. Ho could jiot advise his shareholders to agree to amalgamation, ■, because lho could not see that they woufd gain ,the-sliglitest advantage by so Soing. Me criticised the economies that jMr. Powdrell claimed could jbe made \if an&lgauiation were brougpt about, afid contended that they ■would nit eventuate in actual practice. The lfirge reserves shown by Kaupokonui he criticised as masply book values. At) tlie conclusion of the meeting a vote/od the Kaupokcinui shareholders was taken/and 51 voted'.m favor'of amalgamation and none agjainst, but no vote was taken of the whole meeting. Mr. Murdoch emphasised 'tlie fact. that no motion passed at that meeting could bind .cither company; \it was a matter for each individual company to decide, first of all, and their respective annual meetings was tlie proper time and place to come to a decision.—Star.