BY-PRODUCT COMPANY.

Waikato Times, Volume 102, Issue 17132, 20 June 1927, Page 6

BY-PRODUCT COMPANY.

A PROMISING INDUSTRY. MEETING AT TE AWAMUTU. SOLID SUPPORT ASSURED. Mr S. C. G. Lye, managing-director of the Waikato and Thames Valley Veal Company, addressed a meeting of members of the New Zealand Farmers' Union, directors of dairy companies, and settlers at Te Awamutu on Saturday evening, and gave a brief history of the formation of the abovementioned company.

Mr Lye said that about eight months ago a few farmers in the Waikalo became .interested in the waste that, has been apparent in the Waikato for a number of years, and began making investigations as to the best mode to be employed to turn what has for too long been a waste into a profitable industry. Every farmer is conversant with the fact that it is impossible for New Zealand to absorb the natural increase in stock born each season, and the only alternative left to them is to kill off the surplus calves. It is witli that surplus that they wished to deal. The gentlemen referred to were quietly making their investigations, when the result of the Taranaki expericmnt became known. Of course they were all aware of the embargo that exists on the export and import of young veal, and also of the fact that the exporters have to shoulder the risk of finding another market. Being aware of the above facts these gentlemen were concentrating on the more extensive and indeed the more lucrative side of the business, aud quite a lot of time and thought has been expended in the direction indicated. However, they were rather rudely disturbed by a report that a certain vested interest intended to go into the business in the Waikato. Their idea was to gather sufficient information and then call the directors of the several factories together and form a new company, to be called the South Auckland Cooperative Veal and Calf By-Product Company. However, time did not allow this for this season, and they decided that they must not let this promising business be taken away from the farmers, and they had set out to do the business for this season, j

In taking this action they want the farmers to understand that they are only "holding the fort" for the farmers in "the Waikato, and they fully intend to do their best to form this cooperative company and have it thoroughly organised and fully equipped in readiness for the 1928-29 season. They are very much alive to the prospect or opposition, and make no apologies for making a statement that every calf given to the opposition is a nail in the coffin to be used to bury this great co-operallvc movement.

The effect of this in the Waikato will be:—(1). It will assist in keeping the Farmers' Freezing Company works open at II roliu; (&) It will kedp Waikato money in the Waikato; (3.) It will save the farmers from being pushed out of the new industry. Mr Lye stated they were prepared to offer tills vast organisation to the farmers, provided that the latter will lake up sufficient shares to form a purely co-operative company and provide sufficient cash to satisfactorily carry on the business this season, or they would alternately offer to let the farmers take over the business at the end of the season In return he would expect loyal support, which would assist in keeping down overhead and working expenses, lie strongly urged the farmers to support this new industry in every available way. Mr Wynyard, in moving a hearty vote of thanks, said that while the representatives present could not speak for the rest of the directors, he. was sure that the company which Mr Lye represented could rest assured of solid support. Mr Alexander seconded and endorsed the previous speaker's remarks. This brought a very pleasant evening to a close.