PROPOSED BACON FACTORY.

Wairarapa Age, Volume XXXII, Issue 10060, 6 August 1910, Page 7

PROPOSED BACON FACTORY.

AT WAINGAWA'^WORKS. At a meeting uf Directors of the Wellington Farmers' Meat Company held in Masterton this week, the question of establishing a bacon factory in connection with the works was fully discussed. It was unanimously decided to establish such works providing the dairy farmers subscribe a total of six hundred £5 . BharEs. A prospectus is at once to be prepared and canvassed. Should the directors consider the number of shares applied for insufficient to do the work required they reserve the right to refuse to allot them, and return the amounts'paid on application. The application fee has been fixed at 10 per cent. The shares are tc be known, as the "C" issue, and the holders of the same are to be entitled to elect one director to represent the special issue, the qualification of such director to be five shares. The dividend from the shares, and any bonus that shall from time to time accrue, is to be derived from the bacon and pork business of the company only. The holders of "C" shares may, if working a small farm, have sheep and cattle handled by the company on the same terms, and receive the same benefit as the holders of ordinary shares. The company may, by special resolution, convert the whole of the "C" shares into ordinary shares, in which case the separate ac- . counts would be abolished. It is J claimed that the company will be in ' a position to provide for a sum of £3OOO, a bacon factory with such accommodation as an independent' bacon company could not provide for less than £IO,OOO. It is proposed to carry out the pork and bacon business on the same lines as the rest of the company's business, i.e., while the company would not in ary sense become a buyer, it would undertake to find buyers at the highest - rate, either at the company's works or in the markets of the world. The charges for handling,—which is to include killing, and, when necessary, freezing—will be at the same rates as those ruling to ordinary shareholders of the company. In the event of exporting, the company would arrange advances on the produce.