MIDHIRST DAIRY FACTORY.

Taranaki Daily News, 22 September 1917, Page 3

MIDHIRST DAIRY FACTORY.

RESOLUTIONS THROWN OUT. AS YOU WERE. Ihere was a very good attendance ot suppliers at the Midhirst Hall yesterday, to consider the following motion by Mr. George Sangster, chairman of directors: ■'That the capital of the company be increased to £25,000, by the creation of additional capital of the amount of A.'12,000, divided into 12,000 ordinary shares of £1 each." The chairman stated that they were one of a few butter companies still manufacturing that commodity. They were all aware that two creameries had gone out. With the Pembroke road suppliers sensing, it stood to reason that the creamery at AVaingongoro would have to go out. Ho had been to the Tariki road creamery on Monday, and believed they would manage things all right, Regarding the York road creamery, he thought that the company might close this creamery and the suppliers at the lower end could send their milk to Midhirst, and at the other end to a neighboring creamery. The i company would thus have only three factories—Wharehuia (Stanley road), Waipuku and Midhirst. This would allow them to have one of the most complete and efficient companies in the North Island. It they went in for cheese they should not go in for it blindfolded. They were determined to put up buildings that would last for all time —at least, for many years. At Midhirst the cost of building and plant £O4OO, Beaconsfield road (Wharehuia) £1675 and Waipuku £1350. The curing room at the Midhirst factory should have concrete throughout.

The secretary then gave details as to raising the sum. They would require to go to the bank for £II,OOO, and that meant extra shares, Is for every 17"ls of milk, or, in other words, Jd per°lb butterfat.

Mr. R. McK. Morison, in seconding the, motion, said it was only taking a step in the right direction in the way ot' enlarging the works. He was heartily in support of going in for cheese. The Pembroke road and Waingongoro sup pliers were reasonable and honorable, and deserving on consideration. In reply to Mr. Cuthbertson, Mr. Nathan explained that all the suppliers to Ngaere did not get 2s per lb, as 25 per cent, of the milk supplied was not suit able for cheesemaking, and was turned into whev butter. That proved all did not get the 2s per lb. In reply to a question, it was stated that shares are to be allotted on the percentage of milk received last year. Mr. Richmond said they had talked a great deal about various matters, and apparently got no further. The bottom was out of butter. He thought they should into voluntary liquidation, instead of bolstering up'the company act) further borrowing. Regarding cheese, the chairman stated he quite realised that cheese would be shipped before butter, and the sooner they got into cheese the better A dual plant was what he favored, and then they could manufacture what the market wanted. Later on they may consider casein, sugar-of-milk, GlaMo, etc. They should banish all thoughts of liquidation. They had an overdraft of £4OOO at the batik, and also Mr. Nathan's cheque for butter.

Mr. Susans said he had over £IOO in the company, and was certainly not going to put his hand in his pocket again for a new concern.

Mr. Therkleson (Tariki road) said it was apparent they were not going to receive any benefits. If they were thrown out, well and good, and would paddle their own canoe. The chairman said if the directors closed the doors of the creameries the suppliers would receive compensation. In reply to a Tariki supplier, the chair man intimated that they were shareholders, and were entitled to a vote. If the Arrangements suggested were carried, the Tariki suppliers would be right out of the company. Mr. Susans moved an amendment: "That they stick together, and that the creameries remain\ig be turned into cheese, and the curing rooms bfe nrnde at the main factory." This lapsed for want of a seconder. Messrs Richmond and Cuthbertson then moved: "That the meeting adjourn sine die."—Lost.

The motion was then put and lost. Mr. Sangster then moved, and Mr. Pitt seconded the resolution as follows: "That all the regulations of the Midhirst Cooperative Dairy Factory Compny, Limited, contained in the existing articles of association of the company be excluded, and that the new regulations be made as contained in the amended articles of association now submitted and approved by the chairman, and that the regulations contained in such amended articles of association be henceforth the regulations of tho company, in exclusion of the previous regulations of the company." This was also lost on the voices, and the meeting then adjourned.