NEW ZEALAND DAIRY CO.

Auckland Star, Volume LIV, Issue 182, 1 August 1923, Page 8

NEW ZEALAND DAIRY CO.

COAL AND TIMBER SHARES. BASIS OF ALLOTMENT. (By Telegraph.—Own Correspondent.'. HAMILTON, this day. Explaining the position of suppliers in regard to payments on coal and timber shares in the N.Z. Cooperative Dairy Company, Mr. A. J. Sinclair, assistant manager of the company, told the suppliers to the Manawaru Cheese Factory yesterday that the three calls of one farthing per lb would bring the share payments up to about 12/6 per share, and the probability was that this amount would be declared to be the paid-up price. The reason for this was that the shares were originally allotted at one per 2001b of butterfat. Some suppliers had since the allotment increased thei rsupply considerably, and had been charged one farthing per lb over the increased supply without having been allotted additional shares. It was obvious, therefore, that certain suppliers had paid up far more than others, and with regard to these there would have to be an adjustment, and the directors were considering what form this adjustment should take.