Proposed Thames Flour Mill.

Thames Star, Volume X, Issue 3174, 22 April 1879, Page 3

Proposed Thames Flour Mill.

At a meeting on Saturday of the provisional directors of the proposed Thames Flour Mill Company, it was resolved, that the number of shareß applied for being considerably under what was required to successfully carry on the business, that no further steps be taken towards the promotion of the Company; and that the acting secretary, Mr Steedman, return the subscribers their deposits. We are sorry, indeed, that the promoters should have found it necessary to adopt this course, but the present depressed state of business, combined with the uncertainty of our future mining operations, has, no doubt, in a great measure been the cause of the capital not being fully subscribed. It is to be regretted that an important industry such as this could not be started. We are quite sure that everything has been done both by the provisional directors and the acting secretary that could be done by any body of men to float this company, and but for the unfortunate water right difficulty cropping up at! the outset, and the length of time it took to remove it (a special clause in the Act having to be passed through the House last session), the mill might by this time hare been in full swing. It is better, however, and we cordially endorse the wise resolution of those gentlemen who have taken so much trouble over the matter—not to start under difficulties and with an insufficiency of capital. We are certain a flour mill will yet be started on the on the Thames, whether by a company or by private enterprise, for with the population of the Thames, and the facilities for procuring cheap motive power, such an industry should pay well. Mr Steedman, however, deserves well of this community, for with the greatest zeal be urged forward this matter of a flour mill, and at a considerable loss of time and money to himself. He is yet sanguine that the under-! taking would pay, but he is wise enough to see that without sufficient capital it would be impossible to successfully conduct such a business. The provisional directors passed a vote of thanks to Mr Steedman for his exertions, and agreed to pay between themselves the preliminary expenses, which amount to about £30.

This concluded the business of the meeting of Saturday evening.