WOOL PROFITS.

Taranaki Daily News, 19 August 1920, Page 5

WOOL PROFITS.

PAYMENT TO SEAMEN. farmers want to withdraw. (By Wire.—Parliamentary Reporter.) "Wellington, Last Night. The wool-growers who met Mr. Newman, M.P., to-day, in connection with the Sheep-owners' Acknowledgment of Debt to British Seamen Fund, were not altogether a happy family. Mr. Newman explained that about a quarter of the New Zealand farmers had agreed to hand over their share of the surplus wool profits to the fund, and he expected that the fund would receive about £250,000 out of the sum of £1,600,000 now about to be distributed. He mentioned that a few men had withdrawn from the fund, and that others had indicated a desire to limit their contributions. The fact that the fund was' receiving only £250,000 of the sum of £1.G00,000 paid over by the Imperial authorities indicated that many of the big farmers were not contributing. Mr. A. Fisher (Culverden) and Other delegates objected to any men being allowed to withdraw from the fund. They should all bo held to their promises. Mr. Fisher said that some men had found the surplus profits to be larger than they expected, and now tliey were repenting of their generosity to the sailors.

Several delegates stated that the big farmers in their districts had not "signed, and that the contributions were coming, from the small men, who were suffering under a sense (tf grievance.' They felt that they had been misled, since they had promised their contributions under the impression that they were assisting in a national movement.

Mr. Newman agreed that some men had been carried away by enthusiasm in 1918, and were disposed now to retract their promises, hut he thought that in some cases the. reconsideration of the promises had 'been justified by circumstances. He could quote the cases of farmers who had lost sons at the front, who had been compelled to carry on their farms in the face of increasing difficulties, and who felt now unable to sacrifice their Rhare of the wool profits. Some of these men had "written to him, and their cases could not bo ignored. About forty-four men had applied to have their names struck off the list. The trustees, on the advice of their solicitors, had agreed to delete those names, but they were advised tliat after the carrying of the resolution constituting the trust the list could not be amended. The jjien whose names were on the list must stand by their promises.

The resolution had just been adopted by the meeting when an emphatic protest came from one of the farmers present, He stated that he had been misled. He was a small farmer with n large mortgage. He had signed because he believed that all farmers we re signing, but he found now that the big men In his district were pocketing their surplus wool profits, while he was paying his to the fund. He felt that lie could not afford to make the gift in these circumstances. Mr. Newman repeated that the list of names must now stand. After some discussion the conference directed , the trustees to make an effort to increase the number of subscribers bv -circularising the farmers who had not contributed, and asking tlieiji what portion, if any, of their surplus wool profits they were prepared to hand to the trustees .

The Minister for Lands stated that ar : rangemonts would be made for the publication of a list of subscribers.

RESOLUTIONS PASSED. Wellington, Last Night. The conference adopted the following resolutions:—

That the following gentlemen be requested to act- as permanent trustees of the New Zealand Sheepowners' Acknowledgment of Debt to British Seamen Fund:—Sir Walter Buchanan (Masterton), Hon. W. D. S. Macdonald (Wellington), Messrs R. Beetham (Wellington), H. M. Campbell, M.P. (Hastings), J. (J. N. Grigg (Longbeaeh), 'f. E. Lees (Wellington), A. Boyle (Christchurch), G. L. Marshall (Marton), J. ,J(urray (Kaka Point), E. Newman, ALP! (Marton), A. E. Peace (Wellington), W. A. Sea if e (Waimate), W. I). Hunt (Wellington), M. Betliell (North Canterbury). That Mr. T. !». Lee? be a3kcd to act as honorary treasurer. Thai Mr. T. 1!. Lees be asked also to act as honorary treasurer. That the interim dividend from the surplus wool profits, npw in process of distribution, covering the profits made by the Imperial Government on wool sold up to March 31, 1919, shall be the final dividend as far as authorities to pay tile Seamen'.-; Fund are concerned.

That the trustees be. authorised to pay the whole or any part of the moneys belonging to the fund to the Public Trustee, to be invested by him as agent for the fund, and to hofd such moneys and all interest thereon in the manner from time to iinte directed by the trustees.

That the trustees he authorised to pay out. of the moneys received income tax assessed by the Commissioner of raxes and gift duty, if payable on inlividual amounts contributed, the intention beinij that it shall be unnecessary for contributors to show the amounts subscribed to this fund in their separate income tax returns.

That the permanent trustees make an effort to enlarge the number of subscribers.