LETTER TO COMPANY
League Action Criticised
“I think the league is overstepping itself,” said Mr J. Manson at a meeting of the Canterbury Progress League “I think there is nothing in the league’s constitution which gives it the right to approach a public company to ask it to do something to benefit Canterbury.” Mr Manson was referring to a letter from the league to the Canterbury Frozen Meat Company, Ltd. The president of the league (Mr G. R. Burrowes) said that from what he could gather there had been “quite an outS” because the company had ed a Wellington firm to underwrite its debenture issue.
Mr Burrowes said it had been endorsed at a meeting that the company be asked tactfully, as it was in effect a Canterbury company, whether it could raise its finance through brokers in Christchurch. If it could do so, it would be doing a favour to Canterbury.
Mr B. J. Drake said that the P-E Group's economic survey of Canterbury had recommended the establishment of a development finance corporation for the benefit of Canterbury. He was inelined to agree that the league should not point out to any particular company what that company was doing, but he thought something in the wider aspect should not be lost sight of.
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Bibliographic details
Press, Volume CVII, Issue 31409, 30 June 1967, Page 15
Word Count
214LETTER TO COMPANY Press, Volume CVII, Issue 31409, 30 June 1967, Page 15
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