CO-OPERATIVE DAIRYING.

Gisborne Times, Volume VI, Issue 196, 26 August 1901, Page 2

CO-OPERATIVE DAIRYING.

A COMPANY TO BE FORMED,

Ox Saturday afternoon a very satisfactory meeting took place of the provisional committee appointed by the farmers at the meeting held at Alatawhoro last week. It was decided that the capital ot the j company should be fixed at £3OOO, in £1 limited liability shares, only suppliers of milk to be shareholders : each supplier to take two shares for every cow, aud to pay one shilling upon application, and a farthing upon every pound of butter fat that the shareholder supplies to the factory shall bo deducted from each month’s milk | cheque until the shares are fully paid up. The profits of the company to be divided in the following manner: Fivo per cent, to be allowed on paid up shares, and the balance to be apportioned among all the suppliers in proportion to the amount of butter-fat actually supplied by each shareholder. In this way, the profit and benefit is preserved to each supplier. The scope of the company shall be to manufacture aud sell butter, cheese, and bacon, and other products which can be derived from or made out of cows or pigs. A sub-committee was set up to obtain from Air Score a statement as to the amount for which he was prepared to sell his factory, and in the event of it being ultimately decided to acquire Mr Score's

factory that creameries would be at once erected at Patutahi and Alakauri, and provision has already been made. The committee are prepared to find the necessary guarantee to enable one of the local banks to advanco all the necessary capital as it may be required. The committee do not at present deem it advisable for the company to extend its operations beyond butter-making, that is not until the company is fully established, and the support received from the farmers warrants its extension.