OUR CO-OPERATIVE ASSOCIATION.

Waikato Times, Volume XXII, Issue 1861, 10 June 1884, Page 2

OUR CO-OPERATIVE ASSOCIATION.

TO THK KOI roil. Sir, — I wish you and your readeis to note carefully the heading of this letter, " Our Co-operative Association," as I intend to try and point out to the shareholders geneially, and the farmers particularly, that the action taken by the directors, with regard to the placing of certain shares in the market (i allude of course to the 2000 shares which are to be sold singly in Auckland), is fraught with the greatest disaster t) the ship which our chairman told ns ha 1 been to successfully launched the other da}'. It seems to me that if the resolution passed at the general meeting of shareholder, on the -27th of May ia confirmed 011 the 17th of June, then we might, without much fear of coming out of it badly, write down the name of the association as "The Auckland Working Men's Benefit Association," for such it will most likely become if we allow them to have a majority of two to one of the whole voting po\\ er of the concern, and this is what is really being offered to them. As pointed out before in jour paper, the inteiests of the townsfolk, more particularly the working class and the fanners, are diamei tncally opposite, the one trying to get the best price he can for his produce, the other trying to lower the price as much as possible, and if you give all the power to the latter is it not likely that they will try, to work the concern for their own benefit ? They will be able to put in their own diiectors, manage the business as best suits themselves, and then must come a speedy end to all our hopes of ameliorating the lot of the farmers ; the very purpose for which the association was formed. As it stands at present the country people hold, say 7000 shaies with only 102S votes, whilst the other, 2000 shares will have 2000 votes. Just think ot it n moment ; consider the means townspeople ha\e, the advantages they possess, of combining tor any purpose, being so much more easily bi ought together, and then sly whether we shall not absolutely be in their power if the voting goes as per the resolution of the 27th May. Why if one half of the Town votes combine they beat us, our votes being scattered over several hundreds of miles, and, speaking from practical expeiience of voting, I maintain tint it would be impossible for us under auy circumstances to get sufficient votes to beat say one third of the 2003 single share men. When in travelling round at first, I found such a decided objection to each share having one vote, it seemed to me to be a very lair one, and I agreed to try and alter it, by allowing no one to hold more than five votes, but then the objectors evidently never dreamt of the consequences of so many single shares being floated, each to have a vote. lam sure I never did. I say now that the best thing to be done on the 17th inst. is to refuse to confirm the resolution of the 27th of May. Then every shareholder will have a vote, and the fanning communities will have a large majority, as they should have, considering that the business is theirs, not that of their customers. Of course, it would be possible at any future time to alter the articles of association, so that no one who held less than five shares should have a vote at all, which would remedy the evil very greatly ; and it would perhaps be a good thing to issue member's tickets to consumers at so much a year, but I am very confident that if the present resolution obtains, it is likely to interfere most seriously with the success of our venture, I ask all who are of my mind to come to the meeting on the 17th, or if they cannot come send their proxies, which must be in 72 hours before the meeting at the office of the association in Hamilton, i.e., on Saturday morning. I, myself, will be glad to take charge of any to vote in the interests of the farming community, and I know that a very large number of the AVaikato settlers are of my way of thinking. Indeed, it is at the earnest request of many shareholders that I have written this letter, in order that all may know exactly what they are doing before it is too late. My apology for trespassing so extensively on your space must be the extreme urgency of the ' case to our agriculturists. — I am, &c., T. G. Sandes. Hamilton, 7th June, 1884.

} 'Tbo chalrman-'otf, ts& 'Kihikijii,To\yn hoard, notifies that the bdard'ihtends to make and levjr a general rate of Qd in the £, on the 23 d 7day~ of lunp, payalil^iD one sum on- the 15:K day of