TUAPEKA MILLING COMPANY.

Tuapeka Times, Volume XVIII, Issue 1159, 4 July 1885, Page 3

TUAPEKA MILLING COMPANY.

A meeting of the Directors of the above-named Company was held in the Town Hall on Thursday evening. Present — Messrs Bulfin, Daniels, Fraser, Jno. Thompson, Cowen, M'lntosh and Herron. ' Mr Bulfin was requested to take the chair. After the minutes of the previous meeting had been read and confirmed, Mr Fraser said their, next duty woulds be to appoint a permanent Chairman of Directors in* room" df^thelafe Mr G. F. C. Browne. He (Mr Fraser) r had much pleasure in proposing Mr 'M'lntoah, as he felt certain that that gentlepancwoald Ao > his -utmost to further the best interests of the' Company. —Mr* John Thompson, in L seconding^he'motiqn, remarked that his f firni conviction was r that, Mr? -M'lntqsh, would be indefatigable in the discharge of the| duties pf(thSjdfficeit-Thie motfon,Ton: being puf to th^ r yote, .was declared, car-, ried unanimously/— Mr M^lntoaH ihanked the|j}irectors_|pk_the honor conferred upon him, and promised to do all that he possibly cotddSto gmrake -ifing Gctaiparijj* aj succes¥.^[MV^ulfin- thelf,.sSa^e%Jfche} chair in favor of Mr M'lntosh.] The outward coraettpSijtance was nex|| read and approved. The inward correspondence consisted of a letter from Win. Reidy^abriels Gully) drawing attention to the navoc the mill-race had made in his garden, and requesting to be compensated ior actual damage dtfne to. hjugfrriittrees and vegetables.— Latter referred, to the Chairman and Treasurer for report at next meeting. >On ,the motion of Mr Thompson, sepdnded by Mr Fraser, Messrs Mitchinson and Morrison were appointed Directors in roSfeTof MeßsrT'Fraer fresignecl) atfd Browne (deceased). [Mr Mitchinson at a subsequent stage entered the room and took. pa?t in the business .before the chair.}:. „ -•==-, „. The waff appointed along with the Treasurer to sign all cheques issued pythe, CdsßaHy. .; , ." ,, ,r< f Mr ' Thompson mentioned that a few days ago Mr. Johnston (con tractor for the 1 erection of the milling machinery, &c.) waited upon him and requested a cheque of £400 in part payment of his contract,

which would shortly be completed. l\, would be necessary for the' Company to make some arrangements'" for raising money. So farjw^heXMlt TJiompgpj^as WMtquite:. prepared to pay at once, all t th6" calls in full on his fifty shares if the other shareholders would do likewise, in order to. meet the liabilities of the Bulfin enquired' if the HCompany could get a clear- title from the Borough Council for the site oh which the mill stood. —Mr Thompson assured the last speaker that the Council was Mepared at any timeto give a title-deed section*— Mr Ooweh remarked that they could not borrow money on tho property until they got ih§l titjeideeds. Some arrangements would have to be come to with the Borough Council. — Mr Mitchinson mentioned that there <was a report current that the Company could not compel shareholders to pay their calls. It was .stated that some <hitch in, the registration' pf .the! Company had occurred. — Mr Fraser had heard of the report, and was given to understand that a certain lawyer was circulating it/pretty freely. It was his (the speaker's) opinion; that the Company had been legally regis-l tered.. w iThp, matter, of registration had been entrustedto Mr M'Coy, who would; be held responsible by the Company if any hitch ocburred. — Mr Cowen could not understand why .some of the" shareholders tried to shirk their liabilities. The ! Com- j pany' was started ! with' the ostensible! object in v#W of supplying what was regarded as a long-felt public want.-— After some' further conversation,' it was resolved: - ''That :the' Chairman and Treasurer wait: upon the manager of the Colonial Bank to make arrangements re overdraft." It was further resolved that, in 'the event of satisfactory arrangements with the manager of the Colonial Bank not being arrived at, an offer made ;by Mr. Thompson to advance £400 to the Company conditionally that the Directors attach their, signatures .'jointly and severally to a promissory-note for that amount be accepted. It was decided that a sub-Committee, consisting of Messrs M'lntosh, Daniels, Bulfin, Cowen, and Eraser, wait upon the Borough Council at its next meeting re obtaining title-deeds of the section on which the mill stands.

Mr Fraser said that a lot of shareholders in the outside districts were in^avor of the mill when completed being leased to a thoroughly competent miller for a term of years. Pc sonally he approved of the idea, which he regarded, as an excellent one—^in fact, he questioned if the business could be worked to advantage unless this were done. He moved :" That conditions be drawn up, and applications invited from competent persons to lease the Company's milling property for a term of three years." The principal things to be observed in drafting the conditions would be— (l) That gristing be done at reasonable rates ; (2) that the building be kept in good order and repair j and (3) that the rent be payable on specified dates.— Mr Cowen seconded the proposition, which had his entire concurrence. He doubted if the mill could be worked successfully unless it was leased to a competent person. The Company were not in a position to buy grain and supply the local market v. . "i flour and oatmeal. It would require a lot of capital to do this ; and the mill would be managed better by private enterprise than by the Company. — Mr Thompson questioned the propriety of leasing the mill without the Company first giving it a fair trial. The Company was started -on co-operative principles, and he did not think they would be justified in leasing the mill without consulting the shareholders. Moreover, it would be impolitic to lease the mill at this time of the year ; indeed, it was questionable if it could be leased for at least six months or so.— Mr Herron agreed with 'the last speaker.— Mr Mitchinson moved as an amendment: "That applications be invited for a competent flour and oatmeal miller to take charge of the Tuapeka Milling Co.'s flour-mill. "—Mr Thompson seconded. — Af ter some further discussion, the amendment was put and declared carried.

It was decided that the erection of the fluming across Derwent-street to convey the water on to the mill-wheel, and one or two slight improvements in the building, be left in the hands of the Chairman, Treasurer, and Manager to confer Mr Johnston.

The Chairman and Treasurer, were requested' to "make the necessary arrang • ments for insuring the Company'sproperty. Mr Thompson moved : " That a further call be made of 2s 6d per share, payable at the Company's office on the 3rd August, 1885. t "— Carried. . It was decided that legal' proceedings be forthwith taken for the recovery of all unpaid calls in the Company. Mr Mitchinson moved : " That as soon as the building is taken off the contractor's hands, grain for gristing purposes be stored therein at the owner's risk; and that grain for storage purposes be charged for at the rate of 2d per sack for three months. "—Carried.

Some accounts were referred to the Chairman, Treasurer, and Manager for payment if found correct. The meeting then adjourned.