PROPOSED A AUCKLAND FREEZING COMPANY.

Waikato Times, Volume XIX, Issue 1609, 26 October 1882, Page 2

PROPOSED A AUCKLA ND FREEZING COM PAN Y.

Tin: sulverfciVjd Hi-'ofcitig of nil interested in the starting ot the above company -was !icl<l at Oh.uipo on Tuesday last. Thoie woio piosont: Mci&is K. C. (lerniann, (in the dviir) S. S. (iraham, 8 ttteele, U. Roche, T. Uoodtdlvw ami R. Hodgson. The minutes of the pi-o\iou.s meeting ieail and oonfiimed. The Chairman, in opening the piocceilin<*>, informed the meeting th.it on 1) "2300 shell es had boon taken up since the slnue list had Icon opened. Simoml applications ''ad l)eoii looohed for the olhcerf ol .societal y and manager to the oonip.iny, togetliei with soveial oft'eis of bin table site's lot the fiee/ing pieini^e'f at Auckland ; one gentleman ollei ing an hotel at Pon&onby with some giound adjoining for fiee/mg ijiupo^ai. He (the chairman) had loouivcd a telegram from Mi Bunt, at Auckland, saying he could not induce settlei.s to take shareb in the company. Mi Duncan, of llagl.m, one ot the piovi&ional dneotors, had resigned his. otlioe. Neaily all to whom he had wiitten asking them to have their names put on the piospectus hat] dodined. Mi Muiuiy, of Widtoa, had forwarded a repoi t of a meeting re the company held at Waitoa, which was far from encouraging. Tlie resolution parsed was to the effect that the meeting having great sympathy with the settlers of the Waikato, the settlers considered that in a young and growing district like Waitoa it was premature for them with their limited means to join in the undertaking. Several other communications of an unimportant natuie were al&o laid on the table. The chairman fnither stated- that he had received a letter . from Captain Sfccele on the matter. That gentleman, when in Auckland, had been discussing the matter with some of the commercial ineu, He (Captain .Steele) thought from the way in which the prospectus had been drawn up it •was not likely to gain the sympathy of the Auckland merchants. If the clauses guaranseeing the price which the settlers were to get for their meat and butter, as well a& other dairy and faim produce, Mere expunged, probably the piospectus would meet with more favour. They required to import son.y. thing moie in the way qf oqminerouil priuoiple into it, and if thoy did he (Capt. Steole) believed they would receive much moie encouragement. Mr Roche, speaking in regard to commeiciil principle, said that it was originally intended that the company which they were endeavouring to float should be purely the farmers' undertaking, and he had been under the imprgssion. j.hat the farmers would, yarry the filing through, • having a big price guaianteed for their produce. For instance, for their beef , they were to have 255, and for their daily produce Is a pound. If they -dbuld not -float the company on these principle-, let them try what thoy could ilo on commercial principles, and buy in the cheapest market and sell in the, dearest. Men who were in the position to support the Hellenic ljacl uqt clone "so, 'and those who, qoulil ill afford to outer into . the venture 1 were the very parties who had supported it. . ' ■- . ,y P 'Mt' Steole said the 'matter had 'been sufficiently long.beforc^he' public' to-en-able .them to iorm an opinion of what wppbvtrtuey *woro likely tb J geV The

commercial men^had^thrown , cold < water on' the affair, aucT the, farmers had Received it with a degree of lukewarmness. Considering this, he wouldpropose tjiat the company be wound' up' for the present. There were, a number of men who would rather give advice than take shares. There was no use in- their meeting there to promote the interests of the general public, and' getting' neither cooperation nor thanks for their trouble and loss of time. Almost every person he spoke to, said the proposed company was a very good thing, but when asked to support it practically by taking shares inclined to think it was a vecy bad thing indeed. Mr Graham said in the first place it was not intended that the project "should be one for the commercial men, but one almost solely for the farmers. The latter did not seem to take to it in any way, and so unless they changed thoir programme he could not see how it would work. Mr German n suggested that as there were a number of people going from Waikato to the Auckland Cattle Show they should adjourn the consideration, of, Mr Steele's proposition, and let some of those going down to the Show interview the Auckland commercial men and capitalists and ask them if it were started on commeiciai principles would they support it. Mr Graham agreed with Mr Gcrmann iv thinking that such a proposition as that set forth by Mr Steelo should not be decided right away, but that the consideration of the proposition should be adjourned for a month. Then, if no more enthusiasm was manifested in the matter, and they could get no more support he would second Mr Steele's proposition. Mr Roche then proposed, "That the prospectus of the promoteis of the ; proposed Aucklaud Freezing Company not having received sufficient support from the public to warrant their proceeding with the matter, it is resolved that the prospectus be amended so that the guarantee clauses are taken out and the company buy in the open market ; and that a committee consisting of all the provisional directors present at the Show be appointed to interview Auckland capitalibts, and report at a meeting to he held at Ohaupo that day month ; and if sufficient encouragement is not to' be obtained in Auckland then to withdraw the prospectus from the public. This was seconded by Mr Goodfellbw and agreed upon. This terminated the meeting.