PROPOSED BACON CO.

Stratford Evening Post, Volume XXXIV, Issue 78, 25 November 1912, Page 5

PROPOSED BACON CO.

A meeting of dairy company directors interested in the formation of the proposed South Taranaki Bacon Company was held in the Eltharn Bacon Company’s offices on Friday afternoon. Among those present wore Messrs. J. Marx, in the chair, H. Forsyth, J. Phillips, J. lire Murray, K mickey, Barker, Gibson, Hickey, and Dean.

The proposal was to form a. co-op-erative bacon company to be named the South Taranaki Bacon Company, Limited, with registered offices at Elthara. The amount of the capital was proposed to be £30.000, in £1 shares, the shareholders of the new company to be the various dairy companies in South Taranaki, and the new company to take over the existing business carried on by the Eltharn and Mangatoki Dairy Companies. The new company would take over the whole of the factory premises and plant, etc., owned by the existing company at frith am . It was proposed that the basis of allotment of shares should lie—one £1 share for each toh of cheese manufactured during the preceding year, and two £1 shares for each ton of butter, 2s per share to be paid on application, 6d on allotment, with three monthly calls of Cd; shareholding companies to ho reimbursed by a minimum deduction of Is per 100 ]b. of pork received by the company from each company’s suppliers of pigs. Each dairy company joining was to be represented on the directorate, and the company to commence business on application for £BOOO shares, It was resolved “that the basis of representation be one director for each company holding up to 1200 £1 shares and an additional director for each extra 2500 £1 shares, or part of that number.” . . It was decided to form a provisional directorate of eight representatives, and to allot all shares as 'outlined above. Mr. D. Syme was appointed trustee for the proposed company for the purpose of entering into contract for sale. Messrs. Marx, Forsyth, and'Gibson were elected a committee to draft the memorandum and articles of association to bo submitted to a meeting to be field on Friday week. It was agreed to request the chairmen of intending shareholding companies to call a rneeting of their directors at the earliest possible date to appoint their provisional director or directors. —Abridged from ‘Argus.’