TE AWAMUTU.

Waikato Times, Volume XXXI, Issue 2494, 5 July 1888, Page 2

TE AWAMUTU.

Extraordinary Meeting of Shareholders of tub Cheese Factory.—Mr Teasdale on being voted to the chair read the nutice in The Waikato Times calling the meeting. Proposed by MiAndrew, seconded by Mr J. Gibson, that the Te Awamutu Cheese and Bacon Factory Company, Limited, be wound up voluntarily and that Mr Jnine.3 Lloyd Mandeno be appointed liquidator at a remuneration of £10. Carried. Proposed by Mr R. Bell, seconded by Mr Davidson, that the liquidator be instructed to dispose of the property and business of the company as may bo deemed most beneficial to the interests of the shareholders. Carried. Annther meeting of shareholders will be held on Saturday, 12th of July, to confirm the resolutions passed at the extraordinary meeting. So ends an industry—ends at least as far as the present shareholders are concerned—that was looked upon aa the hope of the district, and which was the means of circulating large sums of money among the farmers. That such a fine building and complete plant will bo allowed to remain idle or be diverted to any other use but that for which it was built is scarcely to be expected. It may be, and most likolv will, be in operation next season, but it is very hard that the shareholders should have nothing to show except a big deficit for their money. The directors, however, will bo the greatest sufferers, for not only will they lose the money they invested in shares, but they will be in the unpleasant position of having to put their hands in tlioir pockets to make up any deficiency thero may be after realising. Aside from the items of wages and ordinary expenses, interest alone would give a nice little dividend on the money invested. Started again without the handicap of a big overdraft and mortgage, it would no doubt prove a profitable investment. Probably worked as a cheese factory in spring and summer, and a butter factory in winter, it would be found payable,