WARO TO WIND UP.

Auckland Star, Volume LXIII, Issue 237, 6 October 1932, Page 8

WARO TO WIND UP.

SHAREHOLDERS' DECISION.

TXNABXE TO GET ORDERS

STATE AID EXPECTED.

(By Telegraph.—Own Correspondent.)

WHANGAREI, this day.

A meeting of the shareholders of Waro Co-operative Colliery was hold to-day to consider a motion to wind up the company. The motion was carried by a large majority, but the decision is subject to confirmation in a fortnight's time. Mr. Scott Davidson, managing director, explained to the men the offer which, according to liis information, had been made by the Unemployment Board. "The position, as far as we arc concerned, has been before the Unemployment Board on various occasions," lie said. "I have (Tone my best, and have got many people to back me up. I have done everything to try to impress the Government, but Wβ have been turned down.

"When a new party comes forward to work the mine, however, the Unemployment Board is prepared to give it assistance, but not niucli. As far as I know it is prepared to give £30 a week towards the pumping of the mine only, to be used to suosldlse 20 men with 30/ a week." Other Efforts Welcomed. A, shareholder said that, In view of the fact that no assistance was offered, and ae they could not get orders, there seemed to be no option but to wind up. If the new party was coming forward to work the mine, they could not condemn them until they saw \hcir results. There was no gain by holding up the new party. "It would be a fallacy to keep going any longer," said Mr. Davidson. '''It would only prevent the men from getting State aid. ,.

The motion that the Waro Co-opera-tive Collieries, Limited, go into voluntary liquidation was then put and carried by 177 votes to 5. After the meeting the men discussed the question of relief work and the obtaining of cheap meat and bread. They were urged to seek sustenance if thev needed it. It. is understood that most of them have enrolled as unemployed, and 30 are to start on relief work on Monday. Negotiations in Progress. An explanation was also made by Mr. A. T. MeGlashan, who is at the head of the new party which is now negotiating for the use of the mine. He said that, when he had definitely found out that the Waro Co-operative Collieries, Limited, had finished operations, he had called a few men together to consider a proposal to assist' the town. He had gone to Auckland and interviewed the directors of Wileons (N.Z.) Portland Cement, Limited, and the Hikurangi Coal Cα, Ltd., and had explained his proposal to them. Briefly, it was for fi party of about 50 men to work the mine on a co-operative basis.

"They gave a fairly definite promise," said Mr. McGlashan, "that they would allow us to go on. They said that for the first three or four weeks there would not be many orders, but after that there would be more. There seenis a chance that 50 of you will get your jobs back again. "For a while the majority of the men will have to go on relief work, or else walk the streets, but in a short time, if Wilsons agree to my proposal, many of you will be working in the mine again under better conditions."

Interviewed after the meeting, Mr. McG'laslmn said nothing definite had yet been arranged with Wilsons Cement Co., but he whs now awaiting their decision. If they gave their sanction, he and his party would go down the mine straight away.