Increasing the Capital.

Waikato Independent, Volume XVIII, Issue 1439, 25 April 1914, Page 5

Increasing the Capital.

MEETING OFSHAREHOLDERS AGREES.

A meeting of the Cambridge Co-op. Dairy Co.’s shareholders was held yesterday alternoon, Mr John Fisher presiding, there being only a moder ate attendance. The secretary read the advertisement calling the meeting, the chief business of which was to considhr following motion "That the capital of the Company be increased from £IO,OOO to £15,000 by the issue ol 5000 shares of £l each on the same terras as the original shares as per Articles of Association. 1 '

( Mr Fisher proposed accordingly. He said it was not the first time a meeting had been called to increase the capital. Buch a course does not affect shareholders, but it is necessary to create new shares for new customers. At present there were not sufficient shares to supply the demand. Capital was wanted for this. Mr'R. Swayne seconded. Mr Hooker questioned whether it would not 'be better to increase the capital to £25,000; then if cheese manufacturing was thought best they could go on without creating fresh capital.'

Mr Harbutt: Do the directors propose to extend operations or is the proposed increase for present suppliers?

The Chairman: No new operations are contemplated. Re cheese, the chairman said suppliers had refused to sanction going into , the cheese business. New buildings and plant wopld have to be erected was decided upon. It w nil-1 tab£l2,ooo to £15.000 to <h that Directors w -re not i repared to unde.take responsibility. Bartlett said he nref rred clicose manufacture—it paid better.' Mr Doolv-r said he had had a good return for his money in share-, but be was not so decided in his preference tor butter over cKq'se now Answering inquiries re operations at I-jh.ham, the secretary said he had been informed the Fdtham folk were wavering in their allegiance to cheese manufacture

Mr Discombs asserted-there was : 0 b tter butter in Auckland 1 ttlan oii- own. He favored opening am a larger local trade. ;

Mi -Butler: We could do very much more locally, but the trade is as big as can be done economically. Storage at the Hautapu factory cbm me need on March Ist- , They Bad oa ! to decline some business now. Mr Harbutt agre :d with Mr Disoombe’s remarks re the quality. Re- \ ifcing to the cluesa project, lie thought another meeting woidd hn needed to dis uss that aspectThe motion was then put, and carried unanimously. ibe secretary remind *d those W ' s, ' nt Biat it would be necessary to hold an-.ther mooting to confirm |}ho m-tion just passed, and suggested calling it for a lorluight’s lim i Saturday, May 9th.