DAIRY POOL FORMED.

Waimate Daily Advertiser, Volume XXIII, 19 May 1922, Page 4

DAIRY POOL FORMED.

LEVIES ON PRODUCE. By Electric Telegraph—Copyright. Wellington, this day. At the Dairy Pool conference yesterday it was resolved that the Government be asked to introduce the necessary legislation through the company, and to giv e power to the directors to make aH necessary levies on produce, such levies to be on a percentage basis, not to exceed lj per eent. on the gross return, and that in the first instance the levy be credited to share capital. It was also resolved that the Government be asked to give the necessary guarantees for finnacing shipments, etc. It was decided to recommend the Government to establish a superfine grade for both butter and cheese on the basis of 92 points and over for butter, and 91 and over for cheese. IF GOVERNMENT REFUSES. It was resolved in the event of the Government refusing to introduce the necessary legislation for the formation of a Company with £250,000 capital, that the committee have power to request the legislation to give informaion of a scheme which will be acceptable to the industry. It was agreed that shares should be applied for and allotted to all ma. nufacturers of butter and cheese in proportion to the total export, the first issue not to exceed 150,000. REPRESENTATION QUESTION. On the question of representation on the directorate, the North Island agreed that the South Island have four, btrt the South Island wanted five. DANGER OF A SPLIT. The chairman said that tie conference had reached the rock on which It might split. It was a critical point but one which he thought could be well left over until to-morrow and decided on details. A SOLUTION POSSIBLE. When the conference of the co-op-wative dairy company delegates met this morning to consider further dedafis of the Dairy Pool, the main anxiety wa 8 aa to whether the difficulty over the representation of the North and South Islands on the board of directors had been smoothed out over night. * “ dicated at the outset toa so,ntion Wht be possible he matter will be considered later SHAREHOLDERS’ VOTES. The problem of the shareholders’ 'otes is now under discussion. Mr Grounds (North Auckland) moved that th e voting should bo on the basis of one vote for 100 shares 7M « Or V 0 three f * r 400 > fottr f <* 700, five for 1000, and a further vote tor every additional 1000. This amendment was carried. Mr Goodfellow (South Auckland) then moved that the voting be on the shareholding basis, but that no one company should have more than two seats on the beard, thus bringing the meeting back to one shar/one 'ote, with the safeguard of the lim-

CONDEMNED BY HOME TRADERS The Committee of the House and «»de i» L„„ don New®? a , res J olution that the proposed ' ?h. . Zealand Produce pool if against