The Temuka Leader TUESDAY, MARCH 17, 1885. THE ROYAL FLOURING MILLS.

Temuka Leader, Issue 1316, 17 March 1885, Page 2

The Temuka Leader TUESDAY, MARCH 17, 1885. THE ROYAL FLOURING MILLS.

Ire report of the meeting of share-*■-older* in Bruce and Co.’s Royal Flouring Mills will he read with general regiet throughout South Canterbury. There was a good deal of dirty lim n washed tlure ; personalties of a rather pronounced kind were indulged in, and apparently feeling ran very high—so high that the hunting-up of the. Company may yet result I nun what was said and don". All this is very much t> bregretted. Only a couple of weeks ago the Directors brought down a glowing report, which showed that the business of the mill was in a flourishing condition and gave every promise of a prosperous future. The only draw-hack appeared to he that the Company had imt sufficient money to carry on so gigantic an enterprise «s it was growing, but hopes were, of course, enter ained that not much difficulty would be experienced in increasing its capital. With such prospects before it, and so lew enterprises in Titnaru. it would be very unfortunate if it should now he ruined through dissensions among those wt.o hare the greatest inter st in it. There can bt no doubt tbat, besides proving a

remunerative investment to the shareholders, it woulii also lie of itnnvnso lv in fit to farmers in S"Uili CanOThury. [t would help to keep up the price of a rain ; provide a ready market for U, nd aso give employment. Under these citenmstances we liu*t that effor's will be made to undo the harm done, and to try to settle the dispute amicably. We do not profess to be able to enter into the merits of the ease ; neither can we say who is right or who is wrong. So far eg we can gather the whole di—agreernent lias arisen out of Mr Bruce having been dismissed from the employment of the Company, hut whether he was in fault or not is what the on initiated cannot fully understand. Mr Bruce undoubtedly has extraordinary claims on the company. It is now five or six years ago since he came up from Wsimate and hullt the mil!, with the assistance of the late Mr Mend. Ison, who found the greater part of the money. After it had commenced •oik, it was destroyed by fire, and Mr |}ru«“ proceeded to rebuild it. He went to America and imported the mos l costly, and the best, machinery that con'd be got in the market, but the moment it was again put in working order Mr Mendelson died, and the whol concern had to stop for want of funds. With that spirit of enterprise so characteristic of Mr Bruce he went to work a third time and succeeded in flouting » company which took over the mill, Mr Bruce remained in charge of the mill as. working manager until a short time ago, wln-n he was dismissed by the Directots, and hence arose all the trouble. Many of the shareholders recognising that the existence of the mill was due to the enter) rise of Mr Bruce, and feeling evident I) that ho had not been treated with the consideration due to him took up the cudgels for him at the general meeting, and appointed a committee to try to arrange with the Directots for reinstating him in office The Directors refused point blank to allow Mr Bruce to enter the mill again and hence the dispute. The m-j >rity of the shareholders were evidently highly indignant at this, and passed resolutions which amounted to censure on the Directors, and it is probable that the Directors will consequently resign. This is the serious part of it, Ihe company has not enough money to gel on with as it is, and if the Directors, who own a great many shares, should withdraw and make things as unpleasant as they could, the result would bdisastrous, if the farmers of the district did not go at once to the rescue. We trust the Directors will not do anything ra-h, although the closing words of the chairman, which|wcre re-echoed by the other Directors/seemed to indicate that, it was their intention to resign. If they do farmers must put their shoulders to the wheel, and make an *ffort to keep the mill going by subseribing more capital. 1 lie Chairman gave an ink ing of what the Dir u ctors won d do, viz., sell the flour, withdraw the guarantee from the bank, and throw the mill on the hands of the Company. It is to be hoped they will not do so, for if they did it would he a great loss to the district.