BACON COMPANY GUARANTORS.

Putaruru Press, Volume IV, Issue 151, 23 September 1926, Page 6

BACON COMPANY GUARANTORS.

SCHEME FOR ASSISTANCE. South Auckland Action. Representatives from co-operative dairy companies in the South Auckland district met at Hamilton on Wednesday to consider assisting the three guarantors of the New Zealand Co-operative Bacon and Meat Packing Company, Ltd., in liquidation. Mr. S. A. Ferguson (Norfolk) presided. Mr. E. C. Banks outlined the position of the three directors from the district. The amount, if found Within a reasonable time, would total, with interest, approximately £23,000. The chairman said that, reckoning on all-round support, a contribution of 3s 6d per 10001 b of butterfat a year for two years would liquidate the debt. Mr. Goodfellow explained that the proportion which the New Zealand Co-operative Dairy Company would bear on that basis would be practically two-thirds. He said that for various reasons a large number of suppliers would not be willing to contribute, but with other anticipated contributions at least £12,000 should be raised under the scheme. It was unanimously decided that suppliers to all co-operative dairy companies throughout the South Auckland district and the Bay of Plenty should be asked to support a voluntary contribution of 3s 6d per 10001 b of butterfat for two years towards liquidating the debt incurred by the three guarantors of the Bacon Company. The following were elected as a committee, with power to add to their (Continued in Next Column.)

number : Messrs. W. Darrall (Tatua), J. Bell (Sunny Park), J. E. Leeson (Morrinsville), Dynes Fulton (New Zealand Dairy Company) and W. Carr Rollett (Tokoroa). Messrs. Goodfellow and Ferguson intimated that they would arrange for defraying the cost of suppliers.