THE SUGAR-BEET INDUSTRY IN WAIKATO.

New Zealand Herald, Volume XXII, Issue 7222, 10 January 1885, Page 3

THE SUGAR-BEET INDUSTRY IN WAIKATO.

|>ROM 00R HAMILTON CORRESPONDENT.] • A lakgs representative meeting of settlers, 40 and 50 being present, was held on Tuesday, to further the above object. Mr. W. A. Graham occupied the chair. A letter was read from Mr. T. S. Seddon, Chairman of the Sugar-beet Committee, apologising for unavoidable absence. Mr. Graham, in opening the meeting, recapitulated what had been done by the committee appointed at the first general meeting. He believed that the first beet-root sugar mill must be built on co-operative principles. His idea was that a company, to be called the New Zealand Co-operative Beet-root Sugar Association, should be started, with a capital of £40,000 only half of which need be called up, in 8000 shares of £5 each, money boyond the sum of £20,000 required, say £10,000, being raised on debentures issued on the security of the plant and stock. The cost of erecting a sugar mill would be £23,000 ; of floating the company, £1000; leaving a balance of £6000 for working expenses. Such a mill would torn out annually 1000 tons of raw sugar, which would be worth £24,000; pulp, worth £3000; molasses, £500; and waste fertilisers, £250: or £27,750 altogether. Against this the coat of purchasing the roots and manufacturing the sugar would be £22,500 ; interest on de« bentures, £600 : dividend to shareholders of 10 per cent., £2000 ; and balance forward, £600. This balanced the bonus of £4800 and the balance of debentures, £6000, would be an ample margin to cover any possible deficiency. . The value of the sugar had been estimated at £24 per ton, being the doty of Ad per lb. remitted added to the sum of £19 10», the lowest price at which raw sugar had been imported into .Auckland. Mr. A. Swarbrick read a long report, which, on behalf of the committee appointed, he had prepared for the information of the general meeting then being held. He had estimated the cost of the production of the beets at £5 19a per acre. He thought that in the ere«tion of the first mill in this part of New Zealand, the matter was one of such national importance that subscribers to the capital of the company should be sought throughout the entire district, from the city of Auckland itself to the furthermost end# and corners of the Waikato, for the benefit would be general, and the establishment of one mill and its success meant the erection of many others in different parts of the country, and the foundation of a large wealth-creating industry. The questions immediately before the meeting were : Can we grow beet at 16s per ton? Will t.he manufacture of sugar in Waikato pay ? He had carefully estimated the cost of growing the roots, and he thought it would. Mr. Primrose said that as a practical farmer hi still believed that farmers could not grow the beet unless they could see a profit in it. He was satisfied now that it could be grown with a profit at 16s per ton. Captain Rdnciman had given great consideration to the subject, and was quite certain it could be grown with profit to the farmer for 16s at the factory. Mr. T. S. Graham believed that 16s per ton would pa/ within a radius of three miles of the factory, or anywhere up and down the river or railway, within a mile of each side.

Mr. Bircgh was of the same opinion. Mr. Swakbrick said that taking the area of supply as 10 miles upon the river above, and 10 miles below Hamilton, and 5 miles along the line of railway on each side of the town, would give an area of 60 square miles from which to draw supplies. Mr. Coates asked what soils were suitable fir the growth of beet? Would reclaimed swamp soil grow it ? The Chairman said Professor Mclvor had been explicit on this point at his lecture at Cambridge. He had said that peat soil would not do, but had referred to the alluvial deposits, resting upon formations which afford the most perfect drainage, which t constituted the bulk of the Waikato land, as being the very best possible for sugar-beet. Mr. Bardgh said he had been a rootgrower all his life—certainly for forty years in the old countrybut he had never seen land in England grow roots as Waikato land would grow them. There was not the shadow of a doubt about the successful growing of the beets. Mr. Swarbrick said he had made his calculations of coat of raising the crop and manufacture of the sugar from two sources the one from a friend in Belgium, the other from papers supplied by Sir Julius Vogel, Mr. Graham had made his from a different source altogether, but all three tallied. On the motion of Mr. Gillktt, seconded by Mr. Swarkrick, it was unanimously re. solved, "That, in the opinion of this meeting, the data before us are sufficient to warrant steps being taken to establish a company for the manufacture of sugar from beet-root in Waikato." Another resolution, appointing Messrs. Knox, Swarbrick, Graham, O'Neill, Gillett, G. Edgecumbe, and tlally a committee to prepare draft of prospectus, and draw up form of guarantee for supply of roots at a certain price, to report to an early meeting to be called by advertisement, was carried. It was proposed that Captain Steele and Mr. Graham should canvass Auckland; Messrs. Hally, Baoh, Le Quesne, and Knox, the town of Hamilton ; NW-rs. 'Lippin and Scott, the Hamilton acre- . holers ; Messrs. Gillett and Runoiman, Kirikiriroa ; that Messrs. E. B. Walker and Gane be asked to canvass the Cambridge country ; and Messrs. Wells, Hewitt, and Houghton, the town of Cambridge; the directors of the Co-operative Association, their own several districts , and that toe Secretary (Mr. G. Edgecumbe) enlist the services of canvassers at Ng*ruawahia and up the Waipa River. A vote of thanks to i Mr. W. A. Graham closed the proceeding^