N.Z.D.A. v. SHAREHOLDERS

Pukekohe & Waiuku Times, Volume 6, Issue 333, 27 November 1917, Page 2

N.Z.D.A. v. SHAREHOLDERS

(Published by arrangement)

[ To tiif. Editor]

Sir,—Your report of the meeting of N Z D.A. shareholders' held at Hamilton on November Bth, made it appear that I was rather in favour of the Association's action than otherwise. I tried to put th- Directors' point of view to bring both 9ides of the question before us—and that part of what I said had the greater prominence. But I disagree with their policy in the matter on the following grounds:—(l) There is a moral obligation on any Com-pany—co-operative or o'herwise— to pay for the use of share capital employed in its business if it can (2) The repudiation of a moral obligation under cover of legal rights is an immoral act (3) The action of the N.Z.D.A.—if persisted in—will result in a serious set back to co-oper-ation among farmers in this country by discrediting their principles in the eyes of the business world, and those who have the future of the movement at heart will do well to repudiate it.—l am, etc, HERBERT S. HAWKINS. "Glencoe," Hamilton.