CO-OPERATION AS IN AUCK LAND.

Waikato Times, Volume XXVIII, Issue 2334, 25 June 1887, Page 2

CO-OPERATION AS IN AUCK LAND.

A CORRESPONDENT writes from Ruapuke : — There was recently held here a meeting of parties who had been induced to take shares in the, second issue of the unfortunate cooperative association. They were mainly led to do so by the statements of a canvasser, sent by the association, who said that the money raised by the second issue was to be exclusively devoted to the establishment in Waikato of a slaughter-yard, and to the opening in Auckland of retail shops for the sale of the meat. So distinct and separate was this new speculation to be, that the canvasser assured a party who held shares in the first issue, that unless he took some in the second, he would not participate in the profits of the new venture. The meeting held that, as the scheme was never even started, any calls paid by them should have been returned. But, instead of that, the liquidators are pushing them for the balance, with the intention no doubt of employing the money—if they got it—to help to pay the debts of the original association. This the parties ' present thought grossly unfair. Some curious things cropped up at the meeting. One man stated that he agreed with the canvasser to take five shares, provided they would take payment for them in the shape of some bacon which lie thought of sending to the association. The party changed his mind, and sent his bacon elsewhere, with this strange result, that, though he never sent them an ounce, nor made any payment, he is credited with having paid £2 10s, and the liquidators claim the other fifty shillings. Another person alleged that he jokingly told the canvasser he would take as many shares as he liked to give him, but that he would not pay anything for them. He ranks as the holder of ten shares, with £2 paid on them, the balance of £8 being the liquidators' demand. The meeting was greatly exercised how these _ payments came to be made. Some surmised that the canvasser, who now figures as the chairman of a Radical body in Auckland, and who may consequently be considered to possess an uncommonly liberal turn of mind, had paid these sums out of his commission; but others indignantly scouted this theory as altogether beyond their powers of belief. But if not paid by the radical canvasser, how pray, did the £4 10s get into the books? Can any of your readers throw light on the subject?