TE ORE ORE DAM FACTORY.

Wairarapa Daily Times, Volume XVI, Issue 5006, 22 April 1895, Page 2

TE ORE ORE DAM FACTORY.

MEETING OF SETTLERS, 4

The adjourned meeting of settlers interested in the establishment of a cheese factory at To Ore Ore was held at the Erapiro Hotel on Saturday evening, Mr I. Sykes in the cliair. | The minutes of the previous mooting were read and confirmed,

REPORT. Tho committee appointedreportod as follows That a company bo formed with a capital of £IOOO in i 500 shares at £2 each, That each> cow represent one share, payable as follows: 5s per share to be calM up each year, on the following Whod, viz,ls for each cow to be deutoctcd off tho monthly milkaecount for the first live months in the year, the above to constitute a sinking fund with which to pay the debt on build-'<■ ing and plant, The report also recommended that the money be procured from a bank or money lending firm on thesecurity of the Share List. By this means shareholders would be rata for debt incurred in the erection of the factory. If sufficient cows are v not guaranteed, it is recommended that the Directors issue debentures bearing seyen per cent interest, which could be paid off by ballot each year as fresh suppliers join. The Committee pointed out that by the proposal submitted, only the milk suppliers would have control' of the factory's business, As far aa they could ascertain tho Committee thought the cost of building and plant would be £750! The report was signed by W, lorns, Georea McKay, and W. D. Watson, * The report was adopted m the motion of the Chairman, seconM Mr T. P. Lett. ■ 3

The balance sheet and rnles Dalefiold Factory was read to tha meeting, and also a letter from Mr George Pail-brother, Secretary to tho Dalefield Factory, offering to give any assistance in the formation of the Company, mid the establishment of the factory, In reply to a question, the Chairman said that tho shareholder! would be guarantors only in proportion to tho number <Sf shares held by them. The prospectus of the Company was read, and the following were appointed a Provisional Directory—' Messrs W, D. Watson, W. lorns T D, Thompson, A. Percy, GJfoKay' T. P. Lett, D, Donald, and T. Cresswell.

Lists were distributed for obtain, mgthe names of suppliers and tho number of cows, three of those,': present guaranteeing ninety cow*.' V lO meeting- closed with tha customary vote Of the Chairman. jty