ADVANCE, PROSPERITY

Dominion, Volume 13, Issue 62, 6 December 1919, Page 14

ADVANCE, PROSPERITY

SPEECH BY SIR JAMES WILSON. 'By Tclppraph.—SppßinJ Correnpomlcnt. Palmerston North, December 5. Speaking at the- opening of tlio new yards of tlio Fanners' Distributing Company, Ltd., at Marlon, on Thursdp.v, Sir James Wilson congratulated the company and Marlon on having such up-to-date yank and prophesied that the venture Would bo an unqualified success, lie pointed out that they had alrea/ly established agencies at Feilding and Wn> nga-nui and also up tlio Main Trunk lino Ho had been an advocate for tho inter' ests of settlers all his life, and felt that tho present movo of tlio Farmers' Union in starling in business as stock auctioneers was a, movo in the right'direction. He trusted that the successful opening of these yards .would be a happy omen of tho future of tho company. Ho spob. ns ono of the early settlers, and was sure that his hearers would bo able to appreciate the great changes which had taken place during tho past few years..: Endeavours had been made to induce auctioneering firms to reduco their comnrssinn, but they declined, and tho Farmers' ■Union had decided to go into business on their own account. Ho was satisfied from tho progress made so far that tho dociI sion was a right ono. Ho freely admUr I ted that tho private mpanies had done

good service in tho past, but they had been working on cheap English capital. Now, plenty of local money was available, and it was quite tinio that it was used in the development of the country. There would bo no antagonism between the Farmers' Distributing Company and other firms, but only a friendly rivalry, and that this fooling existed was shown by the fact that Messrs. Dalgety and Co. had lont their yards close by for the overflow from the big entry that (lay. He considered that it was a "red letter day*' for both the Farmers' Union and Marlon, as was shown by the very largo entry of stock, and it showed that it was a wiso move on the part of the Wellington executive to establish yards in various districts. It was a matter for congratulation that tho company which started in Wellington was gradually extending its sphere of operations. With the steady advance of the company it wis intended at the next meeting to move in the direction of extending the capital to .£500,0™, and they would havo a reserve of JJIO.OOO. Shareholders had Already benefited in the districts in which the company hail been established, and tho manner in which the new yards had been filled thnt day was a good augury for tho future. Ho wished the new venture every success.