The Times Published on Tuesday and Friday Afternoons. FRIDAY, APRIL 7, 1922. THE DAIRY CO.

Franklin Times, Volume 9, Issue 721, 7 April 1922, Page 4

The Times Published on Tuesday and Friday Afternoons.

FRIDAY, APRIL 7, 1922. THE DAIRY CO.

It often occurs in the histories of co-operative concerns that up to a certain point they have been found productive of great good to shareholders and consumers alike, but that there is a Rubicorn which if crossed, turns the tide of affairs Every concern must know its limitations or look out for trouble, and sit is in knowing when to call, a halt that distinguishes the really great business general just as much as he should know when to advance. The N.Z. Co-operative Dairy Company is a concern which possesses a very large number of its suppliers and shareholders among our readers, and that is our apology for commenting upon the position of its affairs as viewed from the editorial chair. It would seem from the general expressions of dissatisfaction and discontent among shareholders that a point has been reached in the history of the! concern when all the cards must be put upon the table. By that we mean simply that the managerial end of the cannot afford to not give the shareholders their fullest confidenceThere is a distinct feeling at present that the shareholder is not cognizant of the facts as seen by the managerial side of the business. Confidence lost is hard to regain, and an adjustment of several different statements made by several members of the managerial and directorial end of the business requires to be quickly made, or what is now merely the distant murmeirng of a storm, may become the real thing. That this could be allowed to take place is unthinkable. The company has won a high place among the dairy concerns of the world. It has materially helped thousands of farmers who in return helped it to grow. It has become an institution which stands for solidity and wise control. To throw away a reputation such as this for the fetish of a section of its governors would be a thousand pities.* We would advisflj caution and reasonableness on the part of shareholders, and. a frankness on the part of the directorate. If mistakes in policy have been made, a frank admission will restore confidence.- If there have been no mistakes then the position can be exp tamed and reasonable minded men will be reasonable. One point we would like to stress and that .is, from the shareholders’ point of view the statements re bonus so much at variance should be aligned and made to harmonise, otherwise the bugaboo of doubt will creep in, and where doubt is, confidence is not. We have purposely refrained from giving space to statements made perhaps in indignation by various parties who feel they have a grievance. This has been done in order that the company directorate may restore confidence among its many shareholders in this district. Furiher, this has been penned in no carping spirit, but with the earnest desire that the powers that be will notice the “writing on the walk’ and hasten to justify the position.

“We nothing extenuate, nor aught set down in malice.”