CAMBRIDGE CHEESE FACTORY.

Waikato Times, Volume XXVII, Issue 2212, 11 September 1886, Page 3

CAMBRIDGE CHEESE FACTORY.

A meeting of director* of the Cambridge Dairy Produce and Bacon Factoiy Company (Limited) was held at their office on Thursday afternoon. Present : Messrs. Jas. Taylor (chairman), Kincaid, Lewis and • All will. , . The minutes of the la*t meeting having been read and confirmed, tenders were opened for supplies of pigs for the season from Messrs Main, Jas. Runciman, and George Hally. The manager having given his opinion about the pigs, it was resolved that those offerod by Messrs Main and Hally should be purchased. It was resolved that tenders should be invited fur a supply of the best dairy salt, horse brand. Two tenders for supplying coal were received, and Mr W. B. Soutor's was actapted. The question of the manner ot payment was brought forward, and the manner of payment hitherto customary here contrasted with that adopted by Southern factories. It was urged that monthly payment for milk supplied meant a loss to the company, because they had to overdraw their bank account. They could not commence to realise until long after the date on which the suppliers were usually paid for their milk. It was hard that shareholders who were not milk suppliers should be at the loss of interest on overdraft. After the question bad been considered, it was resolved that all milk suppliers should be paid at the end of the quarter by promissory note at three months. The Chairman htated that arrangements had been made with the company's bankers (the Colonial Bank of New Zealand) to discount all snch notes at current rate*. Even should the milk supplier not have a banking account, the notes of the company would be discounted on presentation. A circular was received from the Tarat»hi Cheese Company, Carturton, forwarding their balance-sheet, showing that on getting into thorough working order they had made a considerable reduction in their profit and loss account. This company gave 3^d per gallon for milk, and comparing this with the price given by the local factoiy, it is quite evident that the 3^d offered by the Cambridge company is the largest that can be paid consistent with the prospect of making the factory a paying concern.