THE DAIRY INDUSTRY.

Waikato Argus, Volume V, Issue 365, 10 November 1898, Page 2

THE DAIRY INDUSTRY.

The following correspondence has pissed between Messrs R. R. Hunt and Co. and Mr Spragg : MR SPRAGG TO R. R. HUNT AND CO. You are perhaps already aware that I have intimated my personal willingness to relinquish our Waikato business in favour of the milk suppliers when desired. It is of course understood that the purchase money will require to be a reasonable consideration for the property concerned. I learn from your letter that you have some time since communicated with my Loudon partners upon this matter. As you say you have submitted proposals, a portion of which you do not acquaint me with, you will know that it is now needful for me to await advices which they will doubtless send as the lesult of your direct application to them.—November 4th. [The offer made by R. R. Hunt and Co. was £9OOO cash for the Waikato interests of the New Zealand Dairy Association.] MR SPRAGG TO R. R. HUNT AND CO. Following mine of the 4th hist, I have on consideration thought possibly the private proposals which you have referred to as having been made by you to Mr Lovell do not concern my business, and that 1 need not wait for a communication from London before I further deal with your letter of the 3rd. I have repeatedly advised the suppliers that in as far as 1 am concerned I shall facilitate any effort they may make to form our business into a co-operative one in their own iuterests. I have resisted what I have thought was a disposition on the part of the Waikato Suppliers' Union to control my business, but that body appears to me to be a proper one to negotiate for the purpose of purchasing the business to manage on its own account. 1 understand you are the agent for the Union, and l" have therefore to advise you that I have by to-day's mail written full particulars of this matter, to my London partner and have submitted and recommended as follows : —That we do sell our Waikato property and business with the Anchor Brand Trade Mark and the goodwill to the Waikato Co-operators for the actual cost of the same : That is the sum paid to Messrs Reynolds and Company, plus the cost of the new prope;ty and extensions, but not including ordinary maintenance and repairs, and no consideration for the increased "oodwill given by our connection with the business especially upon the Loudon market. That to facditate the sale the whole of the purchase money may remain on mortgage on the property in question with the joint and several bonds of all milk suppliers as collateral security. Interest at five per cent. That Mr shall be liberated from his engagements with us so that his services may be available for the new concern in accordance with y.iur request. I think these proposals are at least fair and equitable. I shall urge them upon my partuer.s in accordance with my promise made to some Waikato suppliers at the time when upon their urgent request we took over the Waikato business. I have arranged for my partners to cable instructions upon receipt of my letter, and no needless delay shall take place in putting this business through.