Wqt i §>tmtlep prtbge Batrpmg Company Phase I (1893-1895) An early co-operative on Prince Edward Island was established in Stanley Bridge , on April 30, 1893. It opened for business on June 1, 1895. Foresight, the desire to make the New London area self-sufficient and increased opportunities for employment, prompted the farmers in the area to incorporate a dairying business for their produce. This new factory was to be known as the Stanley Bridge Dairying Company. Those who voted to send their milk to this factory, to produce cheese, were from , Hope River , North and South Granville , Stanley Bridge , Millvale , Clifton, Campbellton , and Graham's Road. The district of Cavendish was added later. The Directors who were selected to get the factory operating were: Thomas Reid , Daniel McKay , John C. Clark , Arthur Simpson , Robert McKay , Miller Fyfe and Walter Simpson . The site for the factory was the next problem. Land was purchased from Robert Fyfe , north of the , along the border of land presently owned by Robert Carr and Robert Murphy . The deed for the factory was registered on April 9, 1895, by Alfred Fyfe Sr. at a cost of $1.80. Although the factory has been closed since 1945, the deed was not withdrawn and, according to the agreement the land was to revert to the Fyfe family if the factory ceased opera¬ tion. In order to operate some capital was needed. Naturally, the best source was from the farmers who would make use of the facilities. To supervise this, the Directors chose Walter Simpson , BayView , as their first Secretary - Treasurer . Shares sold for $10.00 each, could be paid for in one installment, taken off the patrons' monthly milk cheque, or paid in four parts of $2.50 each. Most of the shareholders chose the latter. The first record shows 148 shareholders had paid. During the years of operation the largest shareholder was Dr. J.E. Fleming , who held sixteen shares. Following the purchase of shares, tenders were called for the construction of a building. The contract was given to William R. Taylor , . According to this tender, dated February 19, 1895, Mr. Taylor was "to find all materials and complete buildings for Cheese Factory according to plan and specifications furnished, and have all completed by June 1, 1895, for the sum of $697.00". Besides the cost of the building, some outstanding costs included: Cheese press $75.00 Cheese vat $50.00 Press rings, etc. $86.00 Freight on above $10.94 The cost of one cheese box was $0.60, and these were purchased from Mark Wright & Co., Charlottetown . Early stock was subscribed to cover the above debt read as follows: 109 shares at 1 share each $1,090.00 19 shares at 2 shares each 380.00 Total $1,470.00 Evidently, some shareholders did not have the money to pay the debts in 1893. The record states "there are 128 subscribers and a total debt which includes all contracts, labor, equipment - without the land - but, including postage, insurance, etc., is $1,775.29. The money needed to operate the factory is to be borrowed at 6% interest". 72