BUTTER CHEESE, AND BACON, CURING FACTORY.

Temuka Leader, Issue 9422, 24 June 1882, Page 3

BUTTER CHEESE, AND BACON, CURING FACTORY.

! "'A meeting of the promoters of the "pro t posed' Cheese, .'Butter and Bacdn-curing Factory was held .last Thursday evening in the Star Hotel, Dr Hayes occupiedthe chair. .The minutes of the previous meeting were read and confirmed. [ Mr Guild asked whether a site had been selected. ' His reason for asking the question was because if it was there would be a better chance of getting a large number of shares in its vicinity. The Chairman explained that the site had not yet been selected, and after some .discussion it was generally agreed that no site should be selected until the shares had been taken up, when it would be advisable to place the factory in a central position in' the. district - in ■ which«the largest number of shareholders lived, • • ;The prospectus was then., read by the Chairman, and discussed seriatim. With .regard, to the capital required, some held ihni it was more than would be necessary, but jt was explained that strictly speak capital "would not be more than £2500, and ' that* : ''it v; waV { made nominally £SOOO, so'that at any future time the business of the company could be extended,' and branches established, without having .to'go through the very tedious.and expensive process required by the Joint Stock Companies Act. It was also slio vn that though nominally shares were' £5 .no' one would have to pay more than £2' 10s for them. The remainder of the prospectus Was discussed, and passed unanimously. Th'e following is the prospectus, as rpad' : —"Prospectus of the Temuka Cheese, Butter, and Bacon-curing Factory Company (Limited)". Capital £SOOO, in 1000 shares of £5 each, payable as follows : 5s per share on application, 5s on allotment, sind the balanco in calls of not more than 10s per share at any one time. No calls to be made under an • interval of three months fronrthe previous one being made. It is .proposed lb' callmp not more .than ,- half 1< t\m. /capital—that is £2 10s per share in the first instance the balance to be reserved for the extension of operations when required.

Pnmsloiiaf Directors'V' (The names" of the ' Directors have alrendy appeared) ; Secretary and Treasurer : Mr J. Ash well ; Broker : Mr K. Sando. The promoters of this prospectus in introducing it to the public wish to draw attention to the benefits to be derived from the establishment in the Temuka' district of Cheese and Butter Factories'. ' (1). By the factory system the cost of manufacturing would be considerably lessened,, by economy of labor, ahcl 'the use of machinery superior to that within the reach of the \ ordinary farmer; con•sequenfly - the profit arising therefrom s would give a greater return to all interested, and, by reason of the uniformity obtainable, a greater demand for the manufactured article, at an increased value, would be the result. (2). Farmers, by selling their milk to the Company, will receive payment in cash, (monthly) and consequently will be enabled to purchase their goods at the stores on a .cash basis, tne'idvaWtages'.of which are ob.vioi.is, compared with the credit and exchange system at present iu vogue in the colony, and will likewise find an outlet for the butter and cheese made", which at present farmers and storekeepers have a great difficulty in doing. (3). It would b« the means of opening up a slsady, paying market for the produce, which at present, during some portions of the year 4 will barely defray working expenses. The success of recent experiments with che refrigerating Ipparaftis. '■ - : combined with the immediate prospect of direct steam communication with the, 7 Old Country, leaves no doubt as to the readability of sending, in good preservation,' dairy arid other produce to an unlimited market. (4). The English and Coloriia* insurance companies offer to cover shipments against all risks, including detention on board ship from any cause, for 5 per cent ; premium.' Bacori Curing.—About this branch little need be said, as it : m generally admitted that large profits are realised by bacon-curing, especially when conducted "in connection,with an establishment where the waste products are utilised for pig in the present : instance. : This branch of fchfe industry will, if found practicable, be supplemented" by the purchase of pigs from breeders in the district. All further information qan be obtained from the Secretary, or any of the Directors.";; , ": J ;= ; j.J f k The question of having the prospectus printed was next discussed. Mr Twomey moved-rt" That, the Secretary be instructed to write to the various newspaper managers inviting tenders for printing 2000 prospectuses." The motion was seconded by Mr Paterson, and agreed to. . ~ v , Mr John Hay n ur st > Dr Hayes and the v Secretary were appointed a Sub-Committee to receive the tenders and authorise-the-printing of the prospectus. . The meeting terminated, with the.usual vote of thanks'to tHo Chairman.'