BACON-CURING.

Lyttelton Times, Volume LXXIII, Issue 9093, 2 May 1890, Page 2

BACON-CURING.

PROPOSED COMPANY AT RANGIORA. A meeting of farmers and others was held at the Road Board Office, Rangiora, at 2.30 p.m. yesterday, to consider a proposal to form a Bacon-curing Company in the northern district. There was an attendance of thirty. Mr G. Cone, the convener of the meeting, was voted to the chair. The Chairman, in opening the business, asked the meeting to first decide whether the attendance was sufficient to warrant their proceeding, or whether they should adjourn the meeting. He understood that the annual meeting of ratepayers was being held at Ashley, which, no doubt bad prevented many from attending. Mr W. M'Gregor, owing to the comparatively small attendance, moved—“ That the meeting adjourn.” This was seconded by Mr J. B. Sheath. Mr M'Dowell considered it important that no time should bo lost. There was now a large number of pigs ready for curing. Mr M. Duncan moved—“ That the business of the meeting be proceeded with.” He thought that, probably, as far as they could go that day would be to appoint a Committee to canvass the district, and report at another meeting. Mr Galletly seconded the motion, and it was adopted ail but unanimously. The Chairman said that he had spent a good deal of time in collecting information. A number o£ farmers came to him enquiring what outlet they wore to have for their bacon pigs this season. He promised to make enquiries. He visited Islington and other factories in Christchurch. The proprietors of these factories expected to get the pigs at their own prices. Some of them said they were swamped with pigs, and those from the North were bound to come from them. His reply was that evidently the time had come for the northern farmers to study their own interests, and he should advise them to start a limited liability Company to cure their own bacon. He had ascertained the prices the buyers were giving, viz,. 3|d per lb for pigs weighing 120 to to 1401 b, 8d for 140 to 1601 b, and 2-Jd for those weighing from 1601 b to 1801 b. Now, anyone knowing anything about baconcuring was aware that pigs weighing from 150 to 1701 b made the best bacon, therefore it was quite evident that the buyers were drawing a line to make capital out of the farmers, and it behoved the latter to at once look to their own interests. Mr J. B. Sheath had prepared a statement to show what funds would be required to start a Company. Mr J. B. Sheath then read the statement in question, which was based upon one season’s operations on five thousand pigs, averaging 1451 b each. The Chairman said the proposal was to form the Company with a capital of .£20,000, in .£1 shares; £SOOO to be called up; 2s 6d to be paid on application, 2s 6d on allotment, and the balance in calls as required. Mr M. Duncan moved—“ That a Company be formed for bacon-curing, and that the Provisional Directors be elected from those present, with power to add to their number; not less than ten in all to act.” This was seconded by Mr J. M'Dowell, and carried unanimously. The following were then elected Provisional Directors:—Messrs 0. M'Dowell, P. Baker, J. Power, D. Graham, M. Duncan, W. Plaskett, J. Lilly, and G. Cone. Mr J. B. Sheath was appointed Secretary pro iem. It was resolved that the name of the Company should be “The North Canter-burytßacon-curing Company.” After some discussion with reference to the capital of the Company, Mr M. Duncan moved—" That the capital bo £20,000, in 20,000 shares, of £1 each ; 2s 6d to be paid on application, 2s 6d on allotment, and further calls of not more than 2s 6d each, to be made at intervals of not less than one month ; the Company to be registered as soon as 5000 shares are applied for. Votes of thanks to the Road Board for the use of their room, and to the Chairman and Mr Sheath, terminated the proceedings. A meeting of the Provisional Directors was held afterwards, to arrange for drawing up the prospectus and canvassing for shares.