A FERTILISER COMPANY.

Taranaki Daily News, 26 March 1919, Page 5

A FERTILISER COMPANY.

BEING PROCEEDED AGAINST. FOR ALLEGED MISREPRESENTATION. By Telegraph.—Press Assooiation. Wellington, Last Night. A writ containing the names of over 200 farmers resident in Otago and Southland, as plaintiffs, was recently issued out of the Supreme Court at Wellington, and has been served upon the New Zealand Farmers' Fertiliser Company, Limited, of Auckland. Plaintiffs allege that they Were induced to take shares in the company, as a result of various misrepresentations made in the prospectus of the company and by the canvasser 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 a profit, and that the promoters had not promised any inducement to the original subscribers to induce tlicm to make tip the subscription of capital. Plaintiffs seek to have their contracts to take shares rescinded and moneys they have paid returned with interest. The extent of the litigation may be judged from the fact that the company has a registered capital of half a million pounds, and that over 8000 farmers in the Dominion are included in the share register.