PIO PIO SALEYARDS.

King Country Chronicle, Volume IV, Issue 251, 16 April 1910, Page 5

PIO PIO SALEYARDS.

A deputation, introduced by the secretary (Mr Hine), representing the Pio Pio Saleyards Co., Ltd., waited on the Farmers' Co-operative Auctioneering Co. (represented by Mr W. Hume and Mr G. McCullougb), on Wednesday at Te Kuiti, with reference to the company selling in the saleshortly to be erected. The deputation consisted of Messrs R. T. Bailey, Williams Living-stone, McKenzie and Elliott, and a number of other shareholders were also present. Mr G. Elliott (chairman of the company) explained the scheme, and in regretting the absence of Mr A. J. Storey, said it was in no way antagonistic to the Farmers' Auctioneering Co. They desired that both the Farmers' Co. and the Loan and Mercantile Agency Co. should co-operate with them and bring the scheme to a successful issue. Mr Hattaway had kindly donated ten acres of his Native lease for a site for the yards in a good central position. The directors subsequently arranged for the freehold of three acres of this leasehold upon which the yards would be erected. The timber was all ordered and partly on the ground and it was anticipated that they would be able to open the yards next September. Over 600 £1 shares had been taken up, and a number more were to be allotted, bringing the number of shares allotted to over 700 within the next few days. Pio Pio was a centre for a very large stock district, and the project was bound to be successful, as it entailed heavy expense and considerable loss of Wtime, as well as depreciation of stock, to drive over the bad roads to Te Kuiti.

The methods which the directors proposed to adopt in conducting sales were new to Waikato and the King Country, but were carried out successfully in other parts of the Dominion. It was proposed that the auctioneering companies be asked to sell on the same day, with a time limit to each auctioneer. This would not only encourage spirited bidding, but would compel vendors to place their reserves before coming to the markets. Another aspect of the case wa3 that it was desirous that all the companies should work together, as far as possible, in the interests of the settlers, in order that clients from one company could buy through company. He trusted that they would bring the proposals before the directors of their company. Mr Livingstone and Mr Bailey also briefly spoke. Mr Hume said they were already in receipt of a letter from the secretary but had been so pressed with other business that they had not so far replied. The matter had, however, been discussed at a meeting of the directors and had been favourably received. He would have much pleasure in laying the wishes of the deputation before his directors, and replies would be sent both with reference to up shares and the other details mentioned. Mr Standish asked how large the yard i were to be. Mr Elliott said they would hold 1000 to 1500 head of cattle and 3000 to 5000 sheep. Mr Standish doubted whether the yards would be big enough for the coumpanies to operate on the same day. Mr Elliott said that in the South there were strong companies operating in certain districts in yards smaller than those now proposed. Mr Standish said he did not think they would be able to get buyers to attend sales sixteen miles from the railway, nor. would there be sufficient cattle to make a decent sale. Mr Bailey said that had the yards been open a month ago they could have had a sheep fair consisting of 10,000 entries, Mr Elliott said most of the stock for Te Kuiti came from the back districts. Mr Williams suggested that Mr Standish had two objections to the scheme: one being that the yards would not be big enough and the other that there would not be sufficient cattle offered for sale. (Laughter). Mr Elliott thanked the representatives of the Farmers' Company for the manner in which they had received them and the deputation then withdrew.