PATEA STEAM SAWMILL AND WOODWARE MANUFACTURING COMPANY.

Patea Mail, Volume IX, Issue 1060, 16 July 1883, Page 2

PATEA STEAM SAWMILL AND WOODWARE MANUFACTURING COMPANY.

Floating’ tlie Company.

A meeting of shareholders and others interested in the formation of a Company to carry on Dale’s Sawmill was held at Mr Eyton’s building on Saturday evening. There were present —Messrs G D Hamerton, R C Tennent, Mahony, G F Sherwood, Quinlivan, D Paul, J McKenna, H E Deane, W Bassett, W Williams, A W Williamson, P Neilson, W Howitt, R Pettitt, - E Honoyfield, W Cowern (Sec pro tern), and others. Mr Sherwood was voted to the Chkir, and in a neat speech urged the Importance of everyone doing what they could to float the Company, and work together for the interests of the place. , Mr Cowern made a statement of .what had been done since the last meeting. He said that he found that a large interest was taken in the project. There was scarcely one person but what was of opinion that the Company ought to be carried out, and that it would have a good result to the town at large. He also found that money was very scarce; still people were anxious to take shares, and there were very few who had not done so. Those .who had taken shares had done so to the fullest extent they could ; while others had not subscribed because they had not the monej'. He might inform them, however, that the whole number of shares had been subscribed, Mr Tennent having taken the balance not applied for in order to start the Company, and in the hope (hat more people would yet become shareholders, Mr Cowern then, read over a list of-the names of shareholders, and the number of shares taken by each. Mr Hamerton said that Mr Hudson had asked him to apply for three shares on his behalf. Mr Cowern found that the hotelkeepers had not shown that interest in the concern that he expected they would. They took a large amount of money in the place and were directly interested in the welfare of the working classes. He had waited upon three of them, but all had declined to have anything to do with it. He was disappointed at that, because it appeared to him that the}” might have taken a few shares to advance the interests of the town. Under these circumstances he was gratified to see that the company had been carried out so far. Mr Tennent mentioned that some time ago ho received a telegram from Mr Handley, of Nelson, asking if he had sold the mill, but when Mr Handley learned that it was not a going concern, he did not feel disposed to purchase. Subsequently he had telegraphed again, and he (Mr Tennent) replied that a company was being formed to work the mill. Mr Handley then telegraphed that he was leaving for Patea, but could not be up in time before the share list closed. Mr Tennent thought that Mr Handley would take a large interest in the concern. The Chairman said the effect of a movement of tins description was to induce capital to come into the place. If they showed an active interest and confidence in the town it would induce people to come. Hawera was verj- enthusiastic in this way, and they saw that capital went there. . Their sawmill had excellent prospects, the capital being forthcoming at once, and with the dairy factory it would be the same.

Mr Deane was hardly satisfied with the name of the company. There were plenty of sawmill companies, and this was a saw and planing company. Mr Cowern r The articles of association had to set forth the name of the company and its objects, and they could not be departed from. Mr Tennent thought Mr Deane was right. He had taken a gentleman to the mill, and he said that he had no idea it was in the town. He thought it was somewhere up in the bush. Mr Williams asked if they had all the necessary plant for carrying on the work ? Mr Cowern : Except some belting and saws that wore carried away. I think it requires some resolution re the application money in the bank, and the fact of the balance being in my hands. The statement was adopted by the meeting. Suggestions were then made as to the name of the company, as follows : Mr Deane : Patea Timber and Steam Woodworking Company. Mr Clayton : Patea Steam Sawmill and Wood Manufacturing Company. Mr Tennent suggested the word “ ware ” after “ wood.” Agreed to, Mr Paul : Patea Timber Manufacturing Company. Mr Neilson: Patea Steam Saw and Moulding Mills Company. Mr Tennent would move that the name be the “ Patea Steam Saw and Moulding Mills Company,” seconded by Mr Howitt. Chairman : The resolution is that the name of the Company be as originally set out, and the amendment that it be the Patea Steam Saw and Moulding Mills Company, Limited. , Amendment carried by 11 to 3.

Mr Clayton moved as a further amendment that the Company be called the “ Patea Steam Sawmill and Woodware Manufacturing Company, Limited.” Seconded by Mr Cowern. This was carried by 11 to 1, and being-put as a resolution was adopted unanimously. Mr Hamerton proposed that the number of Directors be seven. Seconded by Mr Clayton and carried. The election of Provisional Directors was then proceeded with, and the following seven gentlemen were appointed : Mr Tennent, proposed by Mr Clayton, seconded by Mr Williamson ; MrMiiroy, proposed by Mr Hamerton, seconded by Mr Howitt ; Mr Paul, proposed by Mr Tennent, seconded by Mr Williams ; Mr Honeyfield, proposed by Mr Williams, seconded by Mr Cowern ; Mr Deane, proposed by Mr McKenna, seconded by Mr Williams ; Mr Williamson, proposed by Mr Neilson, seconded by Mr Paul ; Mr Mahony, proposed ■by Mr Howitt, seconded by Mr Cowern. Mr Clayton moved “ That the' Provisional Directors be instructed to prepare articles of association and rules for management, and" lay same before a general meeting of shareholders at Mr Cowern’s office on Monday, 23rd inst., at 7 p.m.” Mr Hamerton seconded the motion, which was carried. Mr Sherwood said that depression throughout the colony was general, but there were many worse places than Patea. They could look on the company as floated, and he hoped it would go ahead. He had taken a heavy 1 dad on his back in the shape of an industry, and that was the only reason that bo could not take shares in this company. He was not holding aloof because he did not believe in it, but because he had enough already to attend to. He thoroughly believed that it would be a success.

Tlie meeting then separated with the usual compliment to the Chairman.