N.Z. FARMERS' DISTRIBUTING CO.

Otaki Mail, Volume XXVIII, 28 April 1920, Page 4

N.Z. FARMERS' DISTRIBUTING CO.

THE RECENT "SPLIT." The Wairarapa "Age" refers as follows to the change of management of the N.Z. Farmers' Distributing Co.: — It appears that for some time past the company has been increasing itc business and enlarging its capital. Five of the nine directors came to the conclusion that a reorganisation of tho management would be in the bejt interests of tho company. The remaining four (including the chairman, Sir James Wilson), were opposed to a change, expressing the utmost confidence in Mr Leigh Hunt, who had been the manager of the company since its inception, over fifteen years ago. Meetings of directors were held, at which long and somewhat heated discussion:', look place in regard to the situation. Ultimately it was decided that a ballot of shareholders be taken ou the qucsI ion. The result of the ballot was made known at a meeting of directors on Friday last, a majority of over one thousand, it is understood, being i" favour of reorganisation of management. In consecpience of this voting. the chairman of directors (Sir James Wilson), Mr Leigh Hunt (the manager), and Messrs li. J. Richards, John Balsillie, and Thomas Moss (directors) immediately tendered their resignations. Mr W. Jack, assistant manager, is acting as manager in the meantime, and the vacancies upon the directorate i ill be filled in due course. The cornea ny has Uotlll farmer shareholders, and Ms capital has been increased to iVnnganui, Mastertou, Marlon and Taihape. Tho annual volume of business . now over £1,000,000, and a total of •••.am bales of wool passed through the i,i ipany's bands last, year.