The Daily News. SATURDAY, AUGUST 17, 1901. AN IMPORTANT TRANSACTION.

Taranaki Daily News, Volume XXIII, Issue 186, 19 August 1901, Page 2

The Daily News. SATURDAY, AUGUST 17, 1901. AN IMPORTANT TRANSACTION.

Although we have from time to time referred to the negotiations in pi ogress for the purchase by the dairy farmers of the Freezing Workß at Moturoa we cannot allow the occasion of the completion of thisi important transaction to pass without special notice. In our opinion this is one cf the mostnoteable [event?, no* only in the,history of the dairy 1 industry but iu the history of Taranaki..... It marks an important stage in the progress of an industry which is the staple one of the colony. From a land settlement standpoint nd ; industry is so important and so deserving of encouragement as the d*iry industry. We look forward with confidence to the time when the dairy farmers will control the whole movemeat of their produce from the cow byre until it is placed in the hands of the consumer. Then, and not till then, ffiULthfl dairy farmer receive the full value of Tiis produce. In connection with the purchase of the works at Moturoa, the greatest credit is due to Mr. J. G. Harkness for having conceived and successfully carried out the scheme for their purchase. A* chairman of the North Island Dairy Associa- j tion he has done a great deal for the dairy industry, but these all sink into insignificance., beside the services rendered in initiating this important step. The company that established and so successfully. carried on the works is also credit, as there is no deubt but that these works have done a great deal to bring Taranaki to the front as dairying district of New Zealand. Much of the company's success was undoubtedly due to the cloee personal" supervision of Mr. Oonnett, the chairman, and his fellow directors, and it is gratifying to know that the new company has their cordial assistance and support. In connection with the arrangements for the purchase, Mr McDiaimid, themaanger of the Bank of New South Wale?, has given great financial assistance by the liberal manner in which ha met the rew com pany in the matter ef accommodation. Not the least of the difficulties that had to be surmounted were legal ones. While the articles of association of th<? dairy companies give them very wide powers, in very few cases were theyl sufficiently wide to enable them to join in the purchase of the Moturoa works. To alter the articles if association is generally a tedious and expensive process. Mr Sam uel is intitled to the hearty thanks of all concerned for overcoming the difficulty in a simple and inexpensive manner., and thus assisting in no small degree in bringing the negotiations to a successful issue. Feeling as we do that this transaction is calculated to materially advance the welfare of Taranaki, we feel bound to rejoice in its satisfactory consummation'.