THE PIG INDUSTRY

Taranaki Daily News, Volume LIII, Issue 173, 1 November 1910, Page 8

THE PIG INDUSTRY

THE DAIRY COMPANIES' SCHEME. An extraordinary meeting of shareholders of the Eltham Co-operative Dairy Co. was held on Saturday afternoon for the purpose of receiving an explanation from the directors ('" <"h"ir reasons for postponing action in r<-- -vd to the proposed, pork and bacon tojr.p-ny until the next annual meeting. There were about ninety shareholders present, and Mr. H. Forsyth, chairman of directors, occupied i the chair. The chairman said he would ! not answer for this action of one or more of the directors, and the only explanation he could give was that a majority ! of the directors were of Opinion that it was unwise at the present time to proceed further with the proposed company. Failing to obtain any explanation in answer to his questions, Mr. H. G. Sergei moved: "That considering how far the directors had gone with the Mangatoki factory, and also the fact that the shareholders had, at two meetings, given a direction to go on with the proposal, the explanation was unsatisfactory." This seemed to him the only course open in view of the fact that the directors would give them no light on the matter. They "had heard that sufficient support had not been forthcoming from the suppliers. They had also heard that it was because the guarantors of the existing bacon factory wished to foist their buildings on the proposed company. _ Was either of these the reason for their action ? Mr. R. Knuckey said he had opposed the proposal because he did not think that the guarantee of pigs from the suppliers was sufficient. Mr. T. Corbett, a director, said he was opposed to the proposal, and had voted against it, because he was of opinion that it would never be a success on the lines proposed. If the works could be put up at Patea or Moturoa, and were started on a much larger scale than was proposed, then there was some chance of success. The proposal was that Eltham was to guarantee £SOOO, Mangatoki. £3OOO, Kaponga £2OOO. Kaponga had now withdrawn; Lowgarth won 1 ' 1 have none of it, and it showed their gouj sense., ~'

Other explanations were given, one director saying th,e guarantee had been unfairly obtained. Mr. John Walsh moved as an amendment: "That this meeting thanks the directors for their action in connection with the proposed pork and bacon business, and ha* every confidence in their management." Mr. Sergei altered his motion as follows: "That this, meeting, while recognising that the various directors have jriven conscientious consideration and explanation in reference to the pork business, yet is of opinion that the directors lie instructed to proceed with the business in conjunction with other dairy companies."—C'arrifd by 30 to 21. A number of shareholders did not vote.—Star.