WHEAT POOL

Ashburton Guardian, Volume 48, Issue 157, 14 April 1928, Page 7

WHEAT POOL

FAVOURED IN RANGIORA. THE ARTICLES OF ASSOCIATION. <Per Press Association.) CHRISTCHURCH, This Day. The formation, of a wheat pool was unanimously decided on by a meeting of wheat growers held under the auspices of the Rangiora branch of the Farmers’ Union last night. A sub-committee had been set up previously by the branch to formulate rules and these were also' adopted. Mr A. M. Carpenter, president of the branch, was in the chair. Mr Carpenter read the following articles of association:— The representative wheat-growers of Rangiora district having realised the need of a better method l of marketing wheat, submit the following scheme for a wheat pool. This scheme having been submitted to a large conference of representative wheat-growers north of the Waimakariri River, at Rangiora, on April 10, 1928, was unanimously endorsed by them. 1. Articles) of Incorporation of the New Zealand Wheat-growers’ Association.

2. We, the undersigned, all of whom are residents and citizens of the Dominion of New Zealand, do hereby voluntarily associate ourselves together for the purpose of forming a capital stock corporation under the laws of the Dominion of New Zealand.

3. The name of this corporation shall be the New Zealand Wheat-growers’ Association (Inc.), New Zealand. 4. The purpose for which the New Zealand Wheat-growers’ Association is formed is as follows:

5. To promote, foster and encourage the business of producing and marketing wheat co-operatively; to minimise speculation and waste in the production and marketing of wheat; to stabilise wheat markets; to handle cooperatively and collectively the problems of wheat-growers. 6. To engage in any activity in connection with the production, grading, handling, processing, storing, shipping freights, warehousing and marketing of wheat for domestic or export trade, and in the financing of any said operations. 7. To take over and sell any member’s wheat, and to purchase and sell machinery, equipment and supplies used in any of the above-mentioned activities, either by the association or by the members thereof. 8. To borrow money and make advances to the members of the association on wheat taken over from them by the association. 9. To endorse, guarantee the payments of, or secure in any way commercial paper or negotiable instruments signed by any member cjf the association, or by any related or subsidiary corporation or association. 10. To sell, issue, discount, or borrow money upon any commercial paper or negotiable instruments or promissory notes or warehouse receipts, or mortgages, or bonds, or any other kind of property or security owned by or under the control of the association. 11. To act as the agent, representative or broker of its members in any of the above activities.

12. To purchase or otherwise acquire, and to hold, own, exercise all rights of ownership, sell, transfer or pledge shares of the capital stock, or bonds, or securities of any corporation or association en ifiged in the ing, or grading, or storing, or shipping, or handling, or marketing of any wheat.

13. To buy, hold, lease, construct, contract for the use of and exercise all privileges of ownership over such real or personal property as may be necessary or convenient for the conduct and 1 operation of any of the business of the association.

14. To acquire, own, develop any interest in patents, trade marks or copyrights necessary in carrying out 'L? business of the association. 15. And to do each and everything necessary suitable or proper in the judgment of the directors of tin's association, anywhere throughout the world, for the accomplishment of any of the purposes or attainment of any one or more of the objects herein enumerated, or which shall at any time appear conducive to or expedient for the interests or benefit of this association, and the members thereof, and to contract accordingly. 16. The New Zealand Wheaigrowers' Association shall make no profits from any of its activities; but all of its operations shall be commercial, but cooperative in character. The operations and activities of this association shall be limited,to activities arising out of the production, processing, grading, shipping, storing, warehousing, handling and marketing of the wheat of its menfbers only, and to* the finaieing of any of the said opera Vans of its members.

17. The New Zealand Wheat-growers’ Association shall not he pemitted to buy or sell wheat except from and for its members only and on a standard co-operative basis. It shah not huy any wheat whatsoever from nor members or he permitted to go in the open market to buy wheat. 18. The New Zealand Whea+ grower-’ Association is expressly forbid lon to do anything with the intent or effect of limiting or fixing the price, cr of lessening the rrodmtion or sale of any pioduct, or of restricting or limiting the output of any proJict: but ibis association shall do everyth/ ig within its power to prevent speculat : on in the handling of wheat, and to secure for its members a fair price for their wheat in the markets of the worH, and to increase the prvlrr *n sale, use and consumption of wheat ana wheat products by all possible commercial and merchandising methods; and to use every possible means to extend and increase both the supply and the demancl for wheat and wheat products. 19. The New Zealand Wheat-growers’ Association shall not be organised or operated for profit; but all of its operations shall he for the mutual benefit of . its members, all of - whom are wheat-growers in the Dominion of New Zealand. 20. The association shall have and exercise all powers and rights authorised by the laws of this Dominion and all powers and rights incident thereto. 21 The principal place of business of the New Zealand Wheat-growers’ Association shall be ' Christchurch. 22 The term for which the New Zealand Wheat-growers’ Association is to contract is three years from and after the date of incorporation. 23. The New Zealand 1 Wheat-growers Association shall be managed bv a Board of Directors of seven, who shall be elected by ballot by the members or

the association, who shall hold office for one year. 24. The property rights of each member shall be equal ; and each member shall have one unit of property rights only. 25. The association shall issue to each of its members, out of its capital stock, one share only of five shillings (ss) at par and fully paid up, and that each grower shall pay with his application for liis one share, the sum of fifteen shillings (15s) to defray the costs of the association. 26. That the area be divided into seven districts, with one representative from each district. Other provisions are that a director must be a wheat grower or resident in the district ho represents, that the directors shall elect a chairman and three of their number to act as an executive, and that the annual meeting shall be held during the month of November, in Christchurch. Ashburton and Timaru consecutively. Support of Poo! Pledged. After discussion, Mr W. Stalker moved: — That this meeting of whoatgrowers. is strongly in favour of a wheat pool on the lines set out by the subcommittee appointed for that purpose, and pledges its unstinted support of same if it is carried into effect. Mr W. Pannell seconded the motion, which was carried unanimously. The Chairman stated that those connected with the pool would have to sign a three years’ contract, and that the scheme would not be put into operation unless the product of 60 >per cent, of the acreage under wheat was guaranteed to the pool.