DRIED MILK INDUSTRY

Waikato Times, Volume 89, Issue 13817, 23 July 1918, Page 6

DRIED MILK INDUSTRY

GOOD PROSPECTS AT TAJPIRI. A large and enthusiastic meeting was addressed by Mr Goodfellow on the prospects of the proposed dried milk factory. He pointed out that the present high prices of dried milk and butter might very well be expected to continue for some years, and that 3s per lb for butter-fat was not too mueii to expect. The proposed company would l>e the New Zealand Co-operative Milk Foods, Ltd., and would be in 20,000 shares of £5 each. The first subscription was to be 10s per share, but this would not be called up at present. It was proposed to have all the capital paid up in at least two years by making a call of, say, 3d per lb on the but-ter-fat output per month. There must be a guarantee of 3000 cows, and tli" shareholders must sign a joint and several bond. The company would be subsidiary to the Waikato Co-operative Dairy Company, which at the expiration of two years would have the option of taking over the new company. Local directors would control all the business of the new venture. Afte- Mr Goodfellow had answered several questions, most of those present signed up, a total of over 1500 cows being accounted for. It is expected that the required number will be obtained within a few days, and that all the necessary preliminaries will be arranged.