TEMUKA BUTTER CHEESE AND BACON CURING FACTORY com-PANY.

Temuka Leader, Issue 1139, 25 August 1883, Page 2

TEMUKA BUTTER CHEESE AND BACON CURING FACTORY comPANY.

Tho annual, meeting of, the shareholders. of., the above Co n pahy was, held last Thursday afternoon, in]the n'e'vlytrected building of the Company; It was .at'first thought' there Would not have been a sufficient number of shareholders to form a quorum, hut ultimately about 16 were got together, ard (he* meeting was held', Mr James Guild, Chairman of the Directors of the The; minutes tit 1 .the previous general raheting having been* read, the piiEfrffian read 4110 following annual 1 repoVt r-^’ “ Gentlemen, —To fulfil the requirements of the law wo are 1 compelled to call you together] AH joint stock companies with a limited liability are strictly looked after byi the Governmpncjiwbo require verv minute details of all proceedings every year. It is a necessary condition under (he Act that you ba called together to receive the balance • sheet and report of out proceedings during the past year. You are doubtless conversant' with the details of 1 ’ tho balance-sheet as a copy has already been posted to each shareholder. - Should pny of you hot, have received a cdpy, , opr Secretary will be only too pleased to. furnish you rtjithjone. Considerable disappointment was expressed by antimbvr of shareholders m consequence of the Factory not having commenced opera-; tions last year, hut it must be apparent that .to have done .so would have Jjeen premature, as even to a start at the intended 'date, viz,, the Ist of; October, will necessitate borrowing a large,sura of money, although the interim has been actively' employed in making 'the regular calls as, arranged for in tho prospectus of the Company. “ Expenditure.—lt :8 ; in making a selection of site for a Factory to take many points into consideration. It is of’,-the utmost importance that the luid should be of the first quality to facilitate the ; breeding and roaring of pig-8 by the growth of the richest description of grasses;.; I think, Gentlemen, the land selected is of the very be*t quality, and-this fact alone will justify what may appear -at first sight .1 large outlay. The next important item in our expenditure is the building in which we are now met. The Padding ds calculated (0 bp of sufficient size to deal with all the'milk that tlie district is likely to produce. It .is constructed on the most approved principles, after having acquired all available information, and it must be apparent to yourselves that it is of the most substantial character, and experts have expressed themelves of opinion that there is exceedingly good value for the money, There is also a contract entered into for the fitting up of the Factory for, the sum of L 325, to be completed by the 30th of September next. This, with the addition of an engine and boiler, will enable, the Company to start operations, although for the efficient working of the Factory it is desirable to add suitable piggeries, and cottage fot the manager, to bo erected on the grourid, “I have already stated that the Factory is capable of dealing with' all the milk that the district is likely to produce, and there is one fact. that the Directors wish .particularly to, impress upon you. Your director# aro in feisty 1 «

manager from Edendak The manage imenfc and labor will be equal for 800 galloi)/ Tlie same amount ot management and labor will be required for ShO an, (£4oo gadons. Consequently, in pro v potion as the supply is increased the ' r ' cost <>f manufacture will, be diminished, or in plain words, if the manufacture of 800 gallons cost one halfpenny per lb, 400 gallons would cost one penny, “Gentlemen, there are 629 shares sold. , Of'these 629 .shares*, from carefully revising the list we find that about 40 are bad and doubtful from insolvencies, {deaths, and other causes, but from promises made Are calculate upon 600. which . are equivalent to LSOOO. But tp call this up will taka about eighteen months, in periodical calls of three months interval, d have alluded previously to the necessity for borrowing a large sum of money, and we feel it oat duty to infirm you that this money can only be upon the personal security of the directors. It is necessitated to obviate the otherwise unavoidable delay. “We now come to the question of what our future prospects are. Your Directors think it necessary to inform you Y" That our prospects for the future are not so,bright as we should wish them to ho. The shipping of cheese to England ,wa. are informed, so far, has not been and if we cannot ship our .cheese to a foreign market it is quite m evident there are sufficient factories now in work to make more, cheese than cun be consumed In the colonjes, We) are : .onljr : iq possession pjf \ thesp facts within the last three days. We have no doubt Jjs that? from the number of factories in ’ operation, and the amount of produce in . the market, shipping companies will be compelled to give their attention to the *'matter, and front the rapid improvement in refrigerating machinery and the fitting up of vessels, we have every reason to believe this difficulty will be overcome at an early date. It is a question of considerable importance as.to whether it will be overcome in time to enable us to reimburse overselves, This is of the more importance as from the small number of shades sold, we are Ipt in a position to experiment. ' Having now fairly and impartially . ' stated the position, our functions as Directors cease, an*Ht remains for your ' , to elect a Board of Directors for the fasuing "year. I may mention that although there are considerable diffi- . /culties looming in the future, the retiring Directors do not despair of ultimate success, and are prepared to be re elected. ” < ?: Mr Twomey wished to express his with the conduct of the Directors in offering, under gloomy circumstances, to become personally responsible for liabilities, by intimating that they were ready for re-election. Mr Guild said they had not'concealed anything, as they thought it was better to put matters before the shareholders in their true state. It was within three days that they heard of the cheese r failing to reach the Home market in good condition, but as great. improve-. ■: meats in the refrigerating machinery were being made he had no doubt but. that by time their cheese wis ready it could be carried to the Home market safely. , Mr Oilman said he felt very much pleased with the report. It was well That the Directors had put matters in such a way before the shareholders. He had no doubt on his own mind that > everything would "be allright. Ibe • Ashburton people tried to send their Horae, but any of the ships ’would not fit up a refrigerating chamber •unless they got 100 tons cargo to put "in it. They could combine with some ether factory, ana get a refrigerating in some vessel. Their object 4 ; should be to forward only good cheese ' to the Home market, to get their brand good name. He congratulated the ... Directors on having presented such a straightforward ‘ statement. He would ; . ’ rather hear the gloomy view of the case given, than too flaming a report. The ! building was a.credit, and . would meet all their requireramts. Ho had heard a reference made to 800 gallons of milk daily, which would be the milk of 400 cows. No ’ doubt __tbo Directors had given consideration to the question as to whether they had so many cows in the district. . . THe Chairman said - the reference to the 800 gallons meant that they had engaged a man who undertook to manage with his own family that quantity of railk. Mr Coltman said he had no doubt that the district would carry 400 cows He was quite pleased with the report. Ho had great pleasure in proposing ‘That the report and balance sheet be . adopted,’ .;. , • Mr R. H. Postktbwajte seconded the motion, which was earned unanimously,

and iVdotdg bo endorse Mr Coltmau’b remarks. The Chairman said that their next business was to elect Directors.

Mr Twomey said that under the circumstances they could do no better than ir e-elect the old Directors. He would move ‘ That all the Directors of the past year be re-elected.’ Mr Woodhead seconded the motion. My Coltman had no objection to their re-election, but he questioned whether |they could be re-elected in a body. ’ Some discussion took place on this

poini, in the course of which Mr Coitraan saij he wished to have the Directors elected one by one, so as to substitute Mr R. H. Postlcthwaite’s name for his father’s, as the latter could not always attend. Mr Twomey said that under these circumstances he would withdraw his motion, and move ‘ That the whole of the Directors for the past year be reelected, with the exception that Mr R. H. Postlethwaite’s name be substituted for that of his father.’ Mr Coltman seconded the motion* and it was carried unanimously. ; A.The following the a list of the Direc-

tors, viz., Messrs James Guild, K. F* Gray, John Paterson, A, Grant, R. H. Post let hfreite, R. A. Barker, 8. Cain, J. T. M. Hayhurst and J. Austin.

Mr Coltman noticed that it w«s the intention of the Directors to call up £2los nfire per share more. The original inten-

tion was to call up only £2 10s per share, . bpi it appeared now that the Directors impended calling up £5 per share. He would'like the Chairman to explain (his, as it was quite poasib'e some shareholders would not understand it. The Cnairraan said the reason was that they sold little over half the number of shares that'was offered, and consequently it became necessary to call up the full amount. If the 1000 shares had.been sold this would not hive been necessary. He could sympathise with the shareholders living in Mr Coltman’s district who had no interest in the factory now, since they had a factory of their own. It would press rather hard upon them, but it could not he avoided, Mr Coltman said his object was to bring out the point, so that it could be understood. Had all the shares been sold there would not have been any necessity to call up more than £2 10a per share, but as this was not done, the necessity for callingup the full amount arose. Mr Gray said that Mr Woodhead had suggested to him the advisibility of opening the factory with a ball. He would move that a ball be held. Mr Grant seconded the motion! The Chairrhan said he would make no objection, but he would not consent to spend any of the shareholders’ money. They had to screw everything, np at present to make both ends meet.

Several of those present expressing their opinion that the ball should be selfsupporting, the motion'was carried, and Messrs George Woddhead and John* Paterson' were appointed to carry it out.

The Chairman said that as this was all the business he would declare the meeting closed. Mr Twomfty did not think they ought to separate without expressing their appreciation of the services of the Directors during the past year. He would therefore move a vote of thanks to the retiring Directors. . The motion having been seconded by Mr Coltman was carried by acclamation, and the meeting terminated*. The Dairy Factory. The building erected by the Temuka Butter, Cheese and Bacon-curing Factory fi Company, Limited, is now drawing to I wards completion, and is certainly a credit to the district. It is a two-storey brick building on a solid concrete foundation sunk 14 inches in the ground and 20 inches broad. It is erected near the gate in the paddock near Mr Thomson’s slaughter yards, known as Taveuder's paddock, which . the company purchased from Mr A. Grant. The building is most substantially con striicted, the whole of the ground floor being of solid concrete. In the end next the road are two large doors, in front of which is a platform of concrete about three feet above the level of the ground, with concreted steps leading up to it. Inside the door in the northern corner is the weigh-room 15ft x 20ft and an office for booking the milk 6ft x 6ft. Inside this is the press room 15ft x 20ft, and at the other side of the. wall is the manufacturing room, 35ft x 2Qft. At tin back of this is the dairy scullery, 15ft x 20ft ; and at the hack of the press room is the churning room, 15ft x 20ft. The churning room is raised about 3ft above the level of the other rooms, and the entrance to it is by a flight of concrete stairs leading up from the scullery. Underneath the churning room is a cellar to keep the butter in, and at the back is a shed 30ft x 18ft where the boiler is to bo. Conununijation with the upper storey is obtained by a flight of stabs leading up from the churning room. The upper storey is divided into three cerapartments. The curing room is 40ft x 40ft, the packing room 33ft x 13ft, and the office 7ft x 13ft. The wall* of the lower storey are 10£t

high and those of the second storey Bft. At the back of the building are six tanks capable of holding 400 gallons of water each, and these supply water to all parts of the factory through pipes. The building is ventilated on theArchimedian principal, and is altogether a credit to the architect, Mr Upton. At the meeting of shareholders it was resolved to open it with a ball, and so a great many readers will have an opportunity of seeing it for themselves. The contract for building the manager’s bouse has been let, and the workmen are already on the ground. It is expected that everthing will be finished, and that the factory will be ready to commence operations by the Ist of October. Mr Bowman, the manager, arrived last Thursday from Edendale, and will superinten d the fixing of the plant.