DAIRY FACTORY FOR MASTERTON.

New Zealand Mail, Issue 1515, 14 March 1901, Page 39

DAIRY FACTORY FOR MASTERTON.

A meeting was held at Masterton on Saturday in connection with the formation of a dairy company. There was a fail' attendance, and Mr A. W. Hogg M.H.R., was voted to the chair. Mr J. A. Renall read a report which stated : —“ The promoters report having yisited several farmers, and the promises of support are,’ so far, highly satisfactory. Tlie total number of cows from which milk has been promised amounts to 310. Now, while a start can very well be made with 310 cows, it- is plain to everyone that the financial support promised is altogether insufficient. Small farmers can ill afford to invest their capital outside of their farms, and as the benefit Which a co-operative dairy company will confer on the district is not confined to the farmers, it is only fair to invite the residents generally to give the venture that amount of support that will warrant the promoters in going i n with the project. It is intended to register the company with a nominal capital of £2OOO, in 400 shares of £5 each. Before proceeding with the registration of the company, at least 200 shares must be subscribed. There is every prospect of suppliers taking up one hundred shares, and the public of Masterton will be asked to take up an equal number, which will not carry a larger percentage than 8 per cent., or less than 5 per cent., being guaranteed that amount by the suppliers. The payments will be made easy; the deposit on application being but 5s per share, and on allotment 10s, and 10s calls at intervals not oftener than three months. There will thus be left in hand twelve hundred shares for milk-suppliers, who may desire to oorae into the company at a later stage.” It was decided to form a company, and that it be called the Masterton Co-operative Dairy Factory Company, Limited. The following provisional directors were elected :—Messrs J. A. Renall, T. E. Chamberlain, E. M. Bannister, J. Savage, W. H. Buick, G. Sykes and J. Creel man.