THE WAIKATO CHEESE FACTORY. Meeting of Suppliers.

Waikato Times, Volume XXVII, Issue 2203, 21 August 1886, Page 2

THE WAIKATO CHEESE FACTORY. Meeting of Suppliers.

A meriting of the milk suppliers of the factory was hold at the Waikato County Chambers yesterday, for the purpose of considering the position of affairs, with a view to carry on operations. About twenty suppliers wero present, and the chair was taken by Mr S. T. Seddon, chairman of the directors. The financial position of the present company was very fully discussed, and tho whole of tho*e present were favourable to the proposal to wind it up, and start a new company, tho shareholders in which should consist of suppliers only. Mr Swarbrick laid a scheme before the meeting for the future working of the factory, which mot with general acceptance. It was proposed to start tho new company with a nominal capital of £2000, and of this sum those in the room agreed to subscribe £1300. It was decided that when £2000 is .subscribed no further shares will bo allotted. Suppliers are required to take £2 worth of shares for each g.illon of their maximum daily supply, and when, therefore, this sum is readied the capacity of the factory will be taxed to its utmost limits. Those present, with two exceptions, expressed their readiness to take over the company's liabilities and assets on payment of the loth call, us proposed at the annual meeting.

A special general meeting of shareholders ia called for Monday, the 30th inst., at the office of the company, the Hamilton Auction Mart, to take steps for voluntarily winding up the company.