FARMERS ALLIANCE.

Wairarapa Daily Times, Volume XII, Issue 3910, 11 September 1891, Page 2

FARMERS ALLIANCE.

A meeting of shareholders of the Co-operative Farmers- Alliance held in Messrs G. Thomas ana Cp.'s rooms, Wellington, yesterday afteft nopn. &}r poleman Phjlljps, who, presjded, explained that although cpmpany had only been month, the provisional directors h»d decided that the better pian would be to call a meeting at onoe to eleot x ~jM\ directors. One hundred and six applicants had applied for 664 •hares, which represented £3320 at £5 per share, and this, ha explained, was a larger sum than any such Cooperative Alliances had started upon. But as the Alliance could only call up 80s per share during the first year of its existence, they would see that the Directors would proceed cautiously. The first provisional directors had made a mistake in fixing the capital at £250,000, seeing that the Govern* raent now demanded £125 per annum for the annual tax. '• Thei proposed ! to teducd the tip £75,000, and'aspeoial meeting be called for that' purpose. ' So i mentioned that a suitable building bad been secured frpm tyr T. C. Wuliatns, near the Wellington railway station, and negotiations were i under way for the appointment of a suitable manager. He hoped that the ■ Alliance would be able to begin business before the end of the present year. The preliminary expenses for forming the company, and registering it amounted to about £2OO, including contingent liabilities, which sum hq

regarded as very moderate. He hoped that the present opposition on the part of the trades people and others to the 'undertaking would vaniph wLen the scope and design of the Alliance began to show itself. The Alliance would recognise no local jealousies One of the objects of the Association would be to get the freight to Australia and elsewhere reduced. In conclusion he asked the shareholders to treat the efforts of the Directors leniently for the first year of co-operation. Eigid economy would be studied, and if the shareholders would throw their hearts into the business, he felt sure that the cooperation would meet with the same success as the Canterbury Alliance. The followinggentlemen were elected directors -.—Messrs G. S. BriJge, Jas. W. Baker, D. Carman, D. Cameron, J. Martin, junr., C. Phillips, F. D. Pnckle, T. Miller, J. Dawson, T. H. -Robflbon, W. H. Siincox, G. Whitcombe, Sanson, and the mover. 1 he question of appointing a secretary and auditor was left to the direc - tors.

Mr Whitipmbe gave notice that he would move at a subsequent meeting that with a view of relieving the alliance from paying a Heavy annual license on the nominal capital that the*

nominal capital be reduced to X 75.000 of 35,000 shares not subscribed for. A vote of thanks to the Chairman brought the meeting to a close.