DEVELOPMENT IN BULLER

Press, Volume XCIII, Issue 27962, 8 May 1956, Page 7

DEVELOPMENT IN BULLER

COMPANY SEEKING MORE CAPITAL SATISFACTION WITH WORK AT SERGEANT’S HILL Directors of the Buller Development Company, who were told at the annual meeting that the company had suffered a loss on the year’s operations, and that there was no immediate prospect of additional revenue, appointed a special committee to inquire into ways of raising additional share capital A North Island company has advised that it intends to survey the Carter’s Beach-Charleston area for ilmenite and other minerals, and reference was made to the assistance given concerns interested in the development of mineral deposits in that area and at Karamea. The company’s interest in reafforestation and means of meeting the timber shortage in the district were mentioned. The homestead at Sergeant’s Hill has been improved, a new dairy shed of an external race type built, an electric fence given by one of the directors, a water system, from the Westoprt supply, installed. The butterfat production has increased from 44351 b for the 1953 season, the first worked by the company, to 5029.11 b for the year ending July 31, 1955. It was also reported that new piggeries are being built. some directors having assisted with funds and materials. The report on the pakihi land developments revealed that the topdressing of 12 acres seemed to be well justified. The stock using it began the season in a better condition than previously and, with more feed available, less hay was used. Members expressed faith in the success of that farming venture. With a further increase of 25 per cent, in butterfat returns this season, it is hoped, providing butterfat prices remain stable and that other developments produce the expected results, to bring about a substantial increase in income this year. The members stressed that, while they were of the view that increased farm production was vital to the welfare of the district, the company had done much other work in the interests of the Buller. Suggestions made by shareholders which will be followed up are the planting of fruit trees on pakihi land, the erection of signs on cross roads giving information about the district, and the placing of cards in hotel bedrooms for the same purpose. Mr L. Menzies spoke on the good future ol the flax-milling industry in the Buller. with more such work being carried out and better markets offering. Messrs W. E. L. Gay and P. Roselli were anpointed joint secretaries to replace Mr V. M. Readman. whose work for the company was the subject of favourable comment. Mr Readman has left the district. Mr R. Hately was re appointed to a vacancy on the directorate.