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STATUTORY MEETING.

The statutory meeting of tbe newlyformed Co operative Butter Factory was held on Tuepday nfternoon. There was a good attendance of shareholders Mr A. J. Turner acting as chairman. The Directors' report as under, wa3 adopted :— The total number of Shares allotted by the Company is 1445 Shares of £1 each. The total amount of cash received by the Company in respect of the said Share's is £208 2s 6d.

The following is an abstract of receipts and expenditure of the Companyon Capital Account at the date of this report :— RECEIPTS.—Pees on application and allotment of Shares £208 2s 6d.

EXPENDITURE—A/c Purchase of Fac tory site £160 0s Oil

The following is an account of the ascertained preliminary expenses of the Company to the date of this report: — Expenses of formation of the Company £33, Printing: and advertising £8 7s 4d, and the additional preliminary expenses are estimated at £5

The names, addresses, and occupations of the Directors Auditors, Manager, and Secretary of the Company are as follows :

DIRECTORS. Thomas Masefield, of Gouqlrs Bay, farmer Herbert William Piper, of Akaroa, hotel keeper . * William Henry Parkin, of Akaroa, hotel keeper Walter William Williams, of Robinson's Ray, tanner Frederick Sutherland Michel!, of Akaroa

printer Thomas Lawrence, of Akaroa, carter Albert John Turner, of Akaroa, draper Peter Cunningham, of Duvauchelle, far mer" Felix Droclierie, of Onuku, Akaroa, farmer

AUDITOR-Nil. r SECRETARY —(Jeorjre William.Thomas Dated this 30th day of May, 1914.

Mr C. W. Leete moved that Messrs A. J. Turner. W. W. Williams.!!. W Piper, W. H. Parkin, P. Cunningham T. Lawrence, F. Brochei ie, F. Micbell and T. Masefield act as Directors for tbe ensuing year.

Seconded by Mr H. C. Dierck and carried.

Mr Micheil moved that, Mr G. W. Thomas, the • secretary pro. tern, be appointed permanent secretary.

r-econded by Mr Dierck and carried Mr P, Cunningham moved Mr Leete be appointed auditor at a remunera tion of 3 guineas per an> v n.

Seconded by Mr Williams and car riad

In answer to Mr P. Cunningham, Mr 6. W. Thomas snid 480 cows had been guaranteed for tbree years.

Mr Cunningham thought the amount of cows would increase very much, as there were nmutters of far mers wbo bad leasehold properly who cotild not gnnrantoe their cows.

Mr Dierck a c koi if suppliers joining later bud tbp sfimn benefits as those who had joined at tbe start.

Mr T. Mdseiieid paid it was unfair to tbe preserjt shareholder* that those who waited to see if tbe. project was a success, and then came in should have the same benefits.

The chairman pointed out that the Company wanted supplying shareholders to ensure success^

Mr P. Cunningham sad that the Company really wanted increased supply of cream more than shares. He did not think they should im pose id per lb butter fat penalty on those suppliers joining without a guarantee. Tbe chairman said he did not think there was any idea of imposing the penalty. Mr Cunningham said as long as suppliers took shares no Jd per lb penalty would be imposed. He said that an idea had got abroad tbat un less a supplier would guarantee for three years he had to pay this penalty, and he was glad tbat there was an opportunity of contradicting this statement through the paper. It would stop many supplying. In answer to Mr <T. Lawrence, tbe chairman said that suppliers of cream who did not want to become shareholders could supply cream, but id per lb would be deducted. No supplier would naturally refuse to take sharesHs only bad to put down 2s 6d per cow. Mr Cunningham said tbat the reason for the guarantee was for the starting of tbe factory, The statutory meeting then closed.

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Permanent link to this item

https://paperspast.natlib.govt.nz/newspapers/AMBPA19140612.2.13.1

Bibliographic details

STATUTORY MEETING., Akaroa Mail and Banks Peninsula Advertiser, Volume LXXII, Issue 4404, 12 June 1914

Word Count
628

STATUTORY MEETING. Akaroa Mail and Banks Peninsula Advertiser, Volume LXXII, Issue 4404, 12 June 1914

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