A NEW DEPARTURE.

Hawera & Normanby Star, Volume XX, Issue 2436, 26 May 1893, Page 2

A NEW DEPARTURE.

The New Zealand Loan and Mercantile Agenoy Company have entered the pairy Industry- field. At a meeting Wanganui on Thursday Mr John Stevenson, on behalf of the Company, said they were prepared to erect all tbe necessary buildings, properly fitted up, for the manufacture of batter, the central factory being in Wanganui, and the contributing creameries in outlying distriots, without asking the farmers to contribute a pfinny to tbe cost. The Company undertook to provide the whole of the capital necessary. Tbey would open a separate set of books and keep the butter business entirely separate from their other transactions, and at tbe end of eaoh year a balance-sheet would be struck 1 and, after deducting interest on oapital expended, together with a certain sum for depredation of buildings and plant, the whole of the profits would be divided among tbe milk suppliers pro rota. This profit, of course, would be in addition to the payment of a fixed sum per gallon at the end of each month, or other period to be agreed upon, for milk contributed. Mr Stevenson farther suggested that the farmers contributing should appoint three or more directors, who would have abao. lute control of tbe business. Canvassers have set to work to get the proposal carried out.