THE Hauraki Plains Gazette With which is incorporated THE OHINEMURI GAZETTE. Motto: Public Service. MONDAY, WEDNESDAY, & FRIDAY. FRIDAY, NOVEMBER 7, 1924. CO-OPERATIVE COMPANIES.
Dairy farmers of this district have recently been conisidering the affairs of their co-operative company, and it is generally admitted that such concerns, properly managed, in the interests of suppliers are a success. It is a difficult problem to initiate a fair scheme of profit-sharing. Articles of association and rules are capable of misconstruction and require explanations. This week a new Bill has been added to the Statute Book. It is known as the Companies Empowering Bill. It introduces a new principle in company law, and is destined to bring about better relations between employer and employee. It is alleged that the scheme has proved a success in other, countries, and if is hoped it will be beneficial to the Dominion. It fe an experiment. The Act enables a limited liability company, if it so wishes, and to any extent it wishes, to take those in its employ into partnership, both as regards profits and control. This is effected by the device of “labour shares” issued purely by virtue of service contribution as capital shareis are issued by virtue of capital contribution. The incidents of shareholding, sharing profits, and wielding voting power, hitherto confined to capital shares, may now be exercised by the holders of “labour shares.” For the first time in any British community due legislative recognition is given to the human status in industry. A new principle has-been introduced into company law, for hitherto the sole basils of company organisation and control has been capital contribution. Any scheme that tends to improve the relation between employer and employee must be welcomed and given a fair trial.
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Hauraki Plains Gazette, Volume XXXV, Issue 4773, 7 November 1924, Page 2
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291THE Hauraki Plains Gazette With which is incorporated THE OHINEMURI GAZETTE. Motto: Public Service. MONDAY, WEDNESDAY, & FRIDAY. FRIDAY, NOVEMBER 7, 1924. CO-OPERATIVE COMPANIES. Hauraki Plains Gazette, Volume XXXV, Issue 4773, 7 November 1924, Page 2
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