AGRICULTURAL MACHINERY COMBINE.

Press, Volume LX, Issue 11509, 16 February 1903, Page 5

AGRICULTURAL MACHINERY COMBINE.

AMALGAMATION OF NEW ZEALAND iIANUFACT-IRJ-RS.

The scheme of amalgamation between most of the principal New Zealand maun- ;-• facturers of farm implements has been finally approved, and the new company will be ready to begin operations as noon as the necessary valuations have been made and ( the legal formalities completed. The paidup capital, -nibs-iibed by the parties to the , agreement, will be in the ndgfbbourhood of £200,000. The businesses immediately concerned W_ those of Messrs Reid and Gray, Dunedin; P. and D. Duncan, Limited, Booth, Macdonald and Co., Limited, and Andrew* and Beavon, Christcl-urch, and the company will be open to deal with any other firms or companies who may des.ro to join thd amalgamation. The declared object of the amalgamation is "to effect economies in -he purchase of raw matena~s and in the manufacture and distribution oi farm implement* and general machinery now hand lea by the various constituent concerns. It is expected that by this means consumers ot farm * implements will be better served than they have been in the past." The several f*e-' tones will be conducted on nrooh the maxom lines as at present, but there will be IJ. gradual reorganisation of staffs and specialisation of departments, the whole being managed from a central office in CSurisfcchurch. It is hoped, too, that by the adoption of modern factory methods, it .nay &- , come possible to manufacture within the colony certain classes of machinery now being imported in large quantities from abroad. iiin constitution of tne new company, it is stated, will be so framed c* to fully safeguard the interests both of workmen sad consumers, and surplus profits, after paying a dividend not exceeding 7 per cent., wifl be distributed on a 00-operative ba_is, a system which has already become des-tv-dly popular in other branches of commerce, Mr i. J. Mcßride, late general manager in Aa_tralasia, of the MasaeyHarris Company, who has conducted the negotiations, will be- : come interested in the new company, and his services will b? available during til. period of ffe-organisarion.