Stock Firms’ Merger

Press, Volume C, Issue 29620, 16 September 1961, Page 3

Stock Firms’ Merger

Sir,—We read with interest of the merger recommended between Dalgety and Company and the New' Zealand Loan and Mercantile Company. I wonder if it would je competent to ask the eight or 10 directors of the two companies sitting round their mahogany board table in London if, when viewing this matter, they considered or secured the opinions of (a) their staff, (b) their customers, or (c) their owm shareholders? We already have one large stock and station agency company, the National Mortgage, controlled from London, which recently absorbed two very old-estab-lished New Zealand concerns. Is the future likely to be a Dalgety - Loan - Mortgage fusion? Then we would be very happily controlled from London, 12.000 miles away, as we are by shipping companies and some banks. Before this proceeds too far, it might be competent for the companies to invite the opinion of their customers right through New Zealand, who have, no doubt, benefited from the healthy competition between Dalgety’a and the Loan Company. Perhaps Federated Farmers may care to take this matter up in the interests of their members Yours, etc, ODYSSEUS September 14, 1961.