CAMBRIDGE JAM COMPANY.

Waikato Times, Volume XXV, Issue 2060, 19 September 1885, Page 3

CAMBRIDGE JAM COMPANY.

The first genonl me. tint; of tlw Cambndgo Jain Company, was held at Mr Cowper'h Auction Mart, Cambndge, on Thuisday afternoon. Mi T. Wells was hi the chan After a few introduetoiy lcm.uU-, the chairman stated the business of the meet ing, and cdled upon tho Secretary Mi Cowpci, to read the minutes of thu la-t meeting, which were duly confirmed. The lepoit of the provisional committee was then lead, stating that the committee had made a pnitial cam as-, of the distnct with the result of obtaining piomit-es fium settlen willing to take up !>o"> shaies, and had also received positive pi onuses of substantial suppoit fr.vni the leading settlers and fimt glovers. The committee were of opinion that the industiy was much needed, and would be duly appieciated and fosteied. They had tlieiefore no hesitation m recommending tli.it the work of forming the company bo vigorously proceeded with ; that a board of directors be at once appointed, and that the company bo duly incorporated in accordance w ith the Companies' Act 1882. Tho prospectus of the company was duly drawn up, und it was suggested that after this had been printed a systematic effort should be made to obtain the full amount of capital subscribed. It was recommended that the number of directors be five, and the qualification of the office should, beat least 21 shares. Table A of the first schedule of tho act was recommended for adoption by the shareholders, omitting sub suctions 3 and 4 of 57. The first annu.il meeting of shareholders was fixed for the first Monday in February next, when all the directors now elected will retire fioin office. Th ) tou n board have granted two allotments for use as a site for the factory buildings at a nominal rental of Is per annum for 21 years. The allotments are situated at the junction ot Duke and AVilsnii-stieets. A letter from Mr John Billing, of Auckland, giving interesting p.vi ticulars of the jam making industry in Tasmania, was embodied in the report, from which it was »een that although Tasmanian makers had to piy a duty of lid in the lb., besides bearing other incidental charges m placing their products in the New Zealand maiket, they nevertheless realised satisfactory profits. This company would not be called upon to incur such heavy charges, and it is quite reasonable to anticipate that the profit of yi per lb as originally estimated will be obtained." Mi J. R. S. Richardson said he had recently spoken with a South Australian farmer on this subject, who was of opinion that the scheme was preTiatine by four years. In South Australia 2^d had to bo paid for fruit for jam making. The speaker alwo referred to the existence of blight, which would act as a detenent to parties willing to grow fruit. Mr Wells drew attention to some remaiksof Professor Kirk, re blight, to tho effect that it is useless to graft peaches, fur instance, on p-'.icli stocks and impressed the advantages of growing small fruit, such an strawberries— one acre of which would bung in a return equal to that fiom ten acios of any crop of cereals. The Waikito district would compare favourably with any in the colony foi fruit growing. Mi Forrest said there was no use in fanners growing fruit unless there was a m u ket for it. As soon as it was kn«wn th it a jam factory was established, one could lay out a few acres in fruit, and make more money than could be made out of wheat oi oats. The Chairman, speaking of the apparently low price (2d per lb) suggested as the standard price for fruit, said that last year plums were offered to him in large quantities ,at 2'jd. He instanced the Russian damson, a most prolific bearer which, from its pungency, was rarely used and conseqm ntly cheap. A brew of this and apples would make a good jam. He did not desire, the concern to be carried out on an e\ten*ive scale at once, but this year they might go in for experiments on a small scale, and working under small expenses they could not lose much money, and by the f.ict of a jam factory being under way, would encourage the fruit growers. Formi rly fimt gioucrs sending to Auckland had not realised more than Id per lb on the average (Cries of "Say a half-penny'). Was it not better to be sure of getting your twopence, than to chance getting a specula tno thref pence? This year they would m ike. trials and experiments, with a view to going in on a lirger scale next j year Mi J. K. S. Richardson remarked tli.it he had been told that turnips and carrots entered largely into the composition of some jam*. He win solemnly assmed th.it whatever might be tho ca<-e else where, this would never be allowed in Cambridge. Mi«srdls. Reynolds and Selby gave instances of lo«s incurred in sending fruit to tho Auckland maiket. Mi Selby thought the price of tins too high Mi R. Wiight sutured the meeting that tins could be supplied at the rate of Id each and Capt. Daley said the price of tins for homy was Kis per gross as against 20s per gm-s tho estimated price. The report was then adwpted. The ai tides of association were also adopted, mi'J signed by tho«o piesent. Mi H. Covvper moved :— That table A of the hrst schedule of the Companies Act, ISS2, be adopted as thu regulations for the management of the company, omitting subsim tion of section 57 and amending flection 4 by inserting aftpr the word "call," in the third line, the words " such notice to be made by two jnseitions in a local pipi r circulating in the, distnct and that such iidveitisement and production of such notice shall be prinia facie evidence that the c.ill was duly made and payable. " C ii i led. Mr Lrw is proposed that the number of di lectors be nve, and the qualification for otti( .i be 25 shares. Seconded by Mr D. Kn hardsnn. Mr Kus-ell suggested that suven might prov a more convenient number. The motion was carried. Mr F. J. Brooks proposed Mews T. Well*, J. Forrest, John Sharp, Richard R» ynolds and W. B. Souter as 'directors ; seconded by Mr Hewitt and carried unanimously. Mr Forrest said Mr Brook* would oblige tin; cmip.ny if he would c illect and receive the various calls nt tho hank. Mi Biooks s.iid that if, as he supposed, the compmv intended to deal at the Bmk nf New Ze il.mfl he would be very happy to giw e\eiv facility. Mi Koiiest then moved a resolution to the effect which was seconded by Mr Cowper and cm lied nem con. Mi Wells said that before closing the meeting, lie would like to give .in outline of the com so they intended to steer this seison. \fter due inquiries as to the best place to obtain the phnt and lecmving it, they would go on with its erection. But he was getting ahead too fast. Thu directors .should incur no liability until at least 1000 shares were subscribed. Before this they would commit themselves to nothing but limiting prnspect'iies, advertising, or other tri v lal matters. Then got the plant up, and sen what fruit they were likely to get. Very like.lv tho supply would be unall this season. They must also try and get a local ir ,vi to manipulate tho business for a month oi two, rather than go to expense in getting a manager at a big salary even for six months. His reaions for thinking the scheme w.is warranted this year were: — That if nothing was done this year in the matter, the supply of small fruit would be no larirer next year. At present all the [unfits on that industry were swijllowed up in cost of transit, whero, with a jam factory established, it would pay handsomely to put in acres on acres, especially where there were young children to issist in the work. T>v getting r«uly now, they would give a guarantee to people to put in fruit crops for next year, and by beginning now on a small scale, they would be able to make a series of experiment* without losing the shareholders 1 money, as they would lose no money except what might be properly wnttenoff as charges. By adopting this line they would be running no risk, but assuming a strong negative poiition, with the prospect of establishing a permanent industry. The question of the site evoked opinions from several shareholders. Mr Russell was in favour of a lita nearer the railway. Mr Wells said the sections offered by the town boa id did not amount to more than £ of an acre, winch waw far too «rnali. Even with the adjoining four sections there would only bo 30 perches. Mr J. R. H. Richardson suggested a site on the flat by the Karapiro. This, it was thought, would involve heavy cartage. Mr D. Richard«on spoke in favour nf a site below M on'n, where there w»« plenty of water. The matter w«« left to the directors. It was resolved, on the motion of Mr Lewis, that Mr Cowper't auction mart be. the rev istereti office of the company. Mr Brooks impressed on the shareholders the necessity of energetic cnnvan to dispose of more shares, and two geutlemw ia th»

niLM tmtj o\|>iiwie<l their willingness to lnLici-o then nunibei if theiu w.is nny necL's^itj .

A meeting nf the dnect^rs of the company was held after the general meeting, \\ 11 1 cc 1 1 Mi II C'ci\\|h'i w.is .ippiimtcd -.tiii 1 tiry. Mr liciiid » tender tin pi luting the pro^pcctii-i w ii acci'pteil, and the meeting,' .uljoui nod until Tue>»d u ne\t it 7 'iU p.m.