TEMUKA LINSEED, OIL, CAKE AND FIBRE COMPANY LIMITED.

Temuka Leader, Issue 1282, 27 December 1884, Page 3

TEMUKA LINSEED, OIL, CAKE AND FIBRE COMPANY LIMITED.

A meeting of the Directors of the above Company was held on Monday afternoon. Present—Messrs B. A. Parker, Pilbrow, E. Brown, Hayhurst, W. Lyon and Geo. Woodhead. Mr J. Talbot being absent Mr Barker was voted io the chair. The minutes of the previous meeting were read and confirmed. A letter from Mr Talbot was read, expressing regret at being unable to attend, and stating his views on the various items of business before the meeting. The Manager’s report was received, stating that the works were closed, the European flax having been shipped by the Ganymede to England and the native flax delivered in Timaru for shipment to Australia. Mr Pilbrow read a letter that be bad received from Mr Hayhurst, senr., stating that a machine for stripping, threshing and dressing the seed had been constructed under his personal supervision, and shipped previously to the departure of the mail ; also expressing his willingness to forward the interests of the Company by any means in his power while in England. Mr J. T. M. Hayhurst brought before the meeting the illustrated catalogues of several English firms with special reference to flax machinery, and containing suggestions of considerable value. The Manager was in attendance, and in reply to questions said that the flax crops in the district were highly satisfactory, and if successfully harvested would show a good return of seed and first-class fibre, which could be profitably shipped to the European markets, and that, in his opinion, the more forward crops would be ready for harvesting by the second week in January. A question which for some months has proved one of great difficulty with the Directors, and caused considerable correspondence with Home machinist firms was satisfactorily settled. This was a doubt as to whether they would be able to obtain a spinning plant for a sum within the limit of the funds at the Company’s disposal, as all previous plans and suggestions of the same had far exceeded their requirements in size and cost. The Chairman, however, read letters from an important Home firm, offering to supply a plant in every way suitable. If machines could have been obtained in time it was the intention of the Directors to have worked up the past year’s fibre into binding and other twines, but finding some months since that tfiis was not practicable, they decided to dispose of all fibre on hand, and reimburse themselves for the expense of manufacturing the same. After discussion it was resolved, as many of the shareholders had been exceedingly remiss in answering to calls, thereby curtailing Ihe funds at the disposal of the Company—- “ That the purchase of spinning machinery should t be (postponed the present, as

all outstanding amounts due to date would be required for the purchase and working of the growing crops.” The Secretary reported that in accordance with instructions received at last meeting, several summonses had been issued, and that with one exception immediate arrangements for payment had been made. He received directions to take the necessary steps to enfore payment in this instance. Accounts amounting to £37 were passed for payment and the meeting then terminated.