ANOTHER LOCAL INDUSTRY.

Auckland Star, Volume XIX, Issue 221, 19 September 1888, Page 5

ANOTHER LOCAL INDUSTRY.

ESTABLISHMENT OF A FRUIT-

PRESERVING COMPANY.

The establishment of a Fruit-preserving Company has for somo "time past been under serious considetation by the fruitgrowers of Northcote and Birkenhead, and last evening a meeting was held at the Zion Hill schoolroom with this object in view. Mr E. White presided. A prospectus was submitted by the Secretary, Mr Johns.* It was stated that the promoters had entered into conditional arrangements for plant and manufacture by contract, and that on a careful estimate of last year's working by the manufacturer a clear net profit of 12£ per cent, for 2$ Eer cent, was shown, of which the manulCturer undertakes to coy. r all working expenses of the Company for the first year, receiving 50 shares for that guarantee Arrangements have been made to allot shares to fruitgrowers, for which payment can be made in fruit, and promises of orders are to hand for the coming season. Mr Johns estimated that they could produce for 4s 9d what they could sell for 5s 9d,,and h6 promised, that if they threw tlie work upon his shoulders the entire salaries and working expenses would be covered by 2\ per cent." on tho'Smount of. the business transacted. If £1,000 worth of business were done the working expenses would not amount to more than £75. Mr Porter moved, "That the prospectus as submitted by the committee be adopted." This was seconded, and, after some discussion, agreed to. Mr White was appointed Treasurer and Secretary -pro tern, and MessrsKaye, Faulkner, White, Wilson, Jack, Porter, John's, Parrish and Brooking, were appointed directors, A number of shares were taken* up at once-, making the total number purchased 300.