MANAIA DAIRY FACTORY.

Hawera & Normanby Star, Volume VII, Issue 1311, 19 May 1886, Page 2

MANAIA DAIRY FACTORY.

Some fifty or sixty persons attended the meeting of those interested in the proposed Manaia Dairy Factory. Mr. Glenn was voted to the chair.

Mr. Allsworth addressed the meeting, and said that tbe action of the committee was chiefly due to an offer made by Mr. Yorke of a site for a factory at the Inaha. The promoters were of opinion that this offer showed there was an earnest desire for a factory in the district. There was no jealousy of the proposed factory at Otakeho. On the contrary, the promoters of tbis company thought there was plenty of room both for a factory near Manaia and for one at Otakebo also.

A letter was read from Mr. Breach offering to answer questions " as long as your arm" if the Manaia folk desired, and expressing the opinion that at present there were thousands of cows walking about on the Plains with bags full of money, and no one taking advantage of the fact.

Letters had also been received from Mr. Brake and others.

Mr. Allsworth saul be had been asked to act as interim secretary, and bad satisfied himself that there would be little difficulty in raising the £2000 of capital which was required. The promoters calculated that they could erect a factory for £1000, the cost being distributed as follows : — Buildings £350 Plaut 450 Sundiies 200 It would be ten months before this amount would be called up on the basis resolved on by the provisional directors. Ho did not desire to Ray anything about the advantages of a factory ; of that tbere could be little doubt. Having read the prospectus, be drew attention to the fact that four gentlemen bad offered to pay all the expeuses, if the project should not float. Some people were afraid that cheese and butter making would be overdone. Tbere was no fear of glutting the Home market ; in fact one of the main difficulties was that the parcels sent away from New Zealand were too small for large English dealers to touch ; and he instanced a case where this had interfered with a large order from London. Mr. Breach, during March last, was milking 80 cows, aud the cheque for milk was £57. 1 Of this tbere were £27 to pay for expenses, leaving £30 of profit. Besides this, there were the calves and five hours of work from three boys ami oue uiau. He (Mr. Breach) found that this paid handsomely, altliough all the labor was paid for in cash. The Wauganui factory kept open at 3} el per gallon this season, but agreed to divide any profits with the milk suppliers. The other day it turned out that all the milk suppliers would receive about 511 per gallon — a very handsome return indeed. He understood that theOpunake tradespeople proposed in future to buy for cash and sell for cash, and would offer their goods fully 15 per cent, cheaper in consequence. This change was entirely due to the cash payments made for milk by the factory.

Mr. Yorke stated that he had offered the 3ite at the Inaba simply with a view of giving the project a 6tart. At the time he made the offer he had not heard that the Otakebo people were trying to float a company. He did not think be was entitled to much thanks in the matter; in some parts of the United States local bodies offered a site free, and even exempted the land from local rates, simply in older to induce a local industry to start there. Many who bad seen it considered it a good and suitable site, but be bad no desire to press the offer, aud was prepared to give such support as be could to any factory iv the district.

Mr. Sutherland stated that in Cheshire in 1851 the cheese produced by 100,000 cows amounted to 15,000 tons, which, at Od per lb, equalled £8 10s per cow, equal to £800,000 worth of cheese. The population of Cheshire was about half a million ; very little less than that of the whole of New Zealand. He was satisfied that it was the best paying business now open to people in New Zealand. As Chairman he would give it as much time as be could spare, and hoped it would prove a success. A report was read fioui a Southland paper, showing that at Woodlands, in Invercargill, a factory which had started with only some £720 of paid up capital had worked during the past season at a considerable nrofit.

Mr. A. W. Budge thought that the shilling calls would be insufficient to meet all the expenses. He believed 5s on application would be nearer the mark.

Mr. Allsworth thought that the calls made on the previous occasion were too high. He calculated that if they raised .£IOO a month they would be able to pay their way. In September the directors hoped to have £500 in baud, and they would then have £1500 of uncalled capital to work on, provided that all the shares were taken up. He thought dairy factories could not hope to pay a dividend. They did not wish to work to pay interest to capitalists, hut to encourage local industry.

MntNewing said that if the company could raise sufficient money to place the buildings and plant on the ground they should endeavor to procure a manager with means of his own to purchase milk and run the factory for his individual profit. He believed there would be little difficulty in this.

Mr. R. E. Mcltae 6aid it would take six months to raise £000, and he feared this would be insufficient to carry the company on. The company of last year had applications representing £930. Mr. Allsworth informed the meeting that the directors had bought two acres at the corner of the Manaia and Normanby road at j-15 per acre, and a lease of au adjoinicg three acres with a right of purchase. The three acres ran down to Waioknra creek. The site was no doubt a suitable one.

Mr. Ilnghes donbted whother the amount to be subscribed would enable the company to pay its way, and suggested that the amount on application be raised. He had no doubt that if the four gentlemen who guaranteed the expenses also guaranteed an overdraft, the finance might work.

Mr. Sutherland hoped bo soon as the company had £300, they would call tenders for the work. He looked forward to their securing a man who would put a few hundred pounds of his own iuto the concerD, which would then be managed by an individual having a personal interest in the concern, and able to exercise personal control over the contractor and others.

Mr. "W. A. McCutchan thought there was nothing now to prevent the new factory commencing work on October Ist next if only the project received a fair amount of support from the settlers. He had not the least doubt but that the funds would b; sufficient, although they would have to pledge their credit to the bank after part of the shares bad been paid up. The real reason why the late company did not get on was that the shareholders could not agree upon any site. The promoters of that company had shares subscribed to the value of over £900, which was sufficient. The new project was now fairly under weigh, apd there was nothing on earth to prevent its being a success on the. lines laid down, provided only that they gave it liberal support. A Bharelist was then circulated, and fully 800 shares were subscribed, in, the room. 1 The meeting then terminated, wtth the usual vote of thanks to the chair.