BUTTER, CHEESE AND BA CON CURING FACTORY COMPANY.

Temuka Leader, Issue 992, 17 August 1882, Page 2

BUTTER, CHEESE AND BA CON CURING FACTORY COMPANY.

The first meeting ot the shareholders of the above Company was held last Tuesday in Mr F. Storey's Wallingford Hotel. The were between 60 and 70 shareholders present, and great, interest was manifested in the proceedings. On the motion of Mr Twomey, Mr Guild was voted to the chair. The Chairman said that now tha work of the Provisional Directory had ceased, and the meeting had been called together for the purpose of electing permanent directors, A sufficient number of shares had been taken up to justify the Company being floated, and nothing remained but to elect directors. He would remind the shareholders that a great deal of the success of the undertaking would depend upon the class oi men they would elect as directors. There was a great deal of talk about the 3d per gallon for milk, and it would be their duty to elect'men whe would give them the highest price for milk, and at the same time pay a gord dividend to the shareholders. Dr Foster hsd prepared memorandum and articles of association, which he would submit to the meeting for approval. Mr Gray asked what number o* shares would be sufficient to qualify for a director ? The Chairman said that as the legislature had given us all but universal suffrage'they had determined "that every shareholder should be eligible "to; be a director. , Dr Foster, the Company's solicitor, then read the articles and memorandum of association, giving lucid explanations ot every clause of it. - On the motion of Mr - Pilbrow, seconded by Mr R. A. Barker, it wa3 resolved—« That th's meeting approve of the steps taken by the Provisional Directors, towards the formation of'the Company and ot the memorandum and articles ofassociation now read, and engage toforward tho taking of shares and the future prosperity of the Company by every means in their power^"

"""* : '"'"" The election of * permanent directory of nine-members was then gone on with, and after a ballot was taken the fellow's; ing were elected, viz., Messrs James ;«-Guild, 225 rotes; A. Grant, 204 ; J. y Paterson, 153 ; W. Postlethwaite, 152 ; * K. F. Gray, 150 j J. T. M. Hajhurst, 133 ; S. Cain, 107 ; E. Pilbrow, 97 ; J. Hajhurst, 96 ; and W. 11. Glad- • - atone, 88. The first nine members were - declared elected. ";> * "The Chairman said that it was ?-italed in the advertisement that the selection of a site would be considered,, he believed that it might as well be "■ left to the Permanent Directors, They ''had not sufficient information respecting the sites offered jet, and consequently j ' the j could not verj well go into the matter. It was most important that •"" the lite should be in the greatest milk *:•" producing centre, near a railway, and •* where there would be a good supply of '- w-itcr. Mr Pilbron had asked him to '- mention the importance of cultivating *' linseed before the meeting. He sugV" gented that the people should put in ■'<■ the seed, as there was no doubt that *■ a company would shortly be floated to start a factory. * Mr San Jo said, with regard to the

Bites offered, that Mr Irvine'a place ?b "Could be bought ; that Mr Job Brown

had offered a site at £25; Mr E. s 'Brown offered a site near Mr Rutland's place; Mr Grant a site at £27, an acre. ""Mr Budd's place at Winchester could be ; botfght, and a place near Mr Lewis's • : farm, within a mile of Orari.

The Chairman said that Mr Andrew Grant would give a quarter of an acre of land for nothing to the Company, and he believed that there were two Other offers of land for nothing. Mr Rutland proposed—" That the directors select a site, and submit it to 'if meeting of the shareholders for their approval."

Mr Lewis s»conded the motion--7 Mr Coltman asked Mr Rutland if he meant that the directors would not have power to select the site without referring to the shareholders. Mr Rutland said he did. Mr Coltman said in that case he Would move—" That the selection and purchase of site be left absolutely in the hands of the directors." Mr W. A. Murray seconded the amendment. It would only entail loss of time to refer to the shareholders. It would be practically a vote of want of confidence in the directors to pass such a resolution. It would look very bad that after electing them they would not trust them with the selection of a site. Mr Rutland said that after what Mr Murray said he would withdraw his

resolution. Mr Coltman said that in that case his own amendment would not be necessary, and would withdraw it. Both motions were then withdraw and the matter left solely in the hands of the directors, Mr Sando moved—'•' That it be an instruction to the directors to proceed with operationS"S3~soon as possible and if practicable this spring. Mr D. Leach seconded the motion* Mr Lewis proposed—" That the matter be left to the discretion of the directors."

Mr W. A, Murray seconded the amendment pro forma. The amendment on being put was lost and the original motion was then carried unanimously. A vote of thanks to the Chairman terminated the meeting.