THE N.Z. FARMERS' FERTILISER COMPANY, LTD.

Taranaki Daily News, 28 February 1916, Page 6

THE N.Z. FARMERS' FERTILISER COMPANY, LTD.

(To the Editor.) Sir, —jr. your issue of February 21st you reprinted from the-TTawera. Star an account of the Farmers' Union Taranjki executive meeting, in which I am misrepresented. In justice to the company I would like to quote your report: "In" reply, Mr. Johnston said the remedy was for the farmers te take up the share capital and make the company essentially a farmers' concern. But they would nat provide the necessary capital to enable the company to proceed, and so capitalists had to come to its assistance, and having done so they were entitled te a fair rate of interest for the capital invested." This is incorrect. What I said was: "The remedy was far the farmers to take up the fjMre capital and make tl\e company essentially .a farmers' concern. If they would not provide the necessary capital to enable the company to proceed, capitalists would have to come to the assistance, and by so doing woijjd be entitled to a fair rate of interest for the capital invested." The company advise me that over 20,000 shares have been applied for, of which 95 per cent, is held by farmers. Surely this is sufficient indication that the farmers control the company. The majority of the directors are farmers, Mr. A. A. Ross, president of the Farmers' Union, Auckland province, being- the chairman. Thanking you in anticipation. —I am etc., THE X.Z. FATWEBS' FERTILISER COMPANY, LTD. HUGH L. JOHNfSOX, Kepresentative.

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