N.Z. FARMERS' FERTILIZER COMPANY.

Taihape Daily Times, 27 March 1919, Page 6

N.Z. FARMERS' FERTILIZER COMPANY.

TWO HUNDRED FARMERS L>SUE A WRIT.

ALLEGED MISREPRESENT^

WELLINGTON, March 2C.

A writ, containing the names of Over 200 fanners resident in Otago and Southland as plaintiffs, was recently issued out. of the Supreme Court

at Wellington, mid has been served upon the New Zealand Farmers' Fertilizer Company, Limited, of Auckland. Plaintiffs allege that they were induced to take shares in the company as the .result of various misrepresentations made in the prospectus of the company and by canvassers for shares. The chief misrepresentations complained of are that the promoters of the company hold valuable rights, offers, and concessions in an unlimited supply of phosphates and other fertilisers that would enable them to supply farmers with manures at under £3 per ton, and show &, profit, and that the promoters had not promised any inducement to the original subscribers to induce them to make up the minimum subscription of capital. The plaintffs seek to have their contracts to take shares rescinded, and the moneys they have paid returned with interest. The extent of litigation may be judged from the fact that the company has a /registered capital of half a million pounds, and that over SOOO farmers in the Dominion are included in the share register.