PROPOSED PRODUCE AUCTIONEERING COMPANY.

Auckland Star, Volume XXX, Issue 28, 3 February 1899, Page 8

PROPOSED PRODUCE AUCTIONEERING COMPANY.

A meeting was held yesterday afternoon in the National Association Uoonis for the purpose of considering the formation of a Produce Auctioneering Company. About 25 gentlemen were present. Mr F. Hull opened the proceedings. He said he merely acted as broker to the concern. He considered that a strong company, properly worked, would not onJy be v grand outlet for capital, but a great gain to settlers at a distance.

.Mr Henderson was then voted to the chair. He said that such a company as the one proposed would aim at more than auctioneering. It would open frash markets; but to do that would require co-operation.

Mr H. Wilding said there were too many auctioneers at present, but the Company, it: formed, would absorb two or three auctioneers who "were prepared to come in on reasonable terms. The Company wonld also act as agents for country clients. While there were plenty of auctioneers, it must be admitted there were no marts where the public might go and bid in comfort. A company like the one proposed could store produce and feed the market, thus regulating the price. Another advantage would be that settlers might become shareholders and thus gain a share in the profits of the Company. Two or three lots of premises had been put under offer, any of them eminently suited to the requirements of the Company. One gain from such a Company would be the finding of fresh markets, because it would be in a position to ship away large lines. In Wellington such a Company, at present existed, and its success was assured. Tt was proposed to only have as directors practical men. and the manager should have a minimum salary, with a bonus on the profits. Already provisional applications had been received for 3,400 shares, or one-third of the total proposed capital. He moved that a Company to be called the Northern Produce and Auctioneering Company be formed.

Mr Brown seconded the motion, which was agreed to.

Mi1 H. Wilding was appointed seccretary of the Company pro. tern.

Messrs J. W. Henderson, J. T. Johns and C. Brookes were appointed a Committee to go further into the matter and report at a future meeting.