Mr. Polson Challenged

Dominion, Volume 28, Issue 247, 16 July 1935, Page 11

Mr. Polson Challenged

Sir, —Some remarks made at the Farmers’ Union Dominion executive meeting yesterday, regarding the union’s financial position, call for comment. Mr, W. J. Polson, Dominion presklent, is reported to have stated that a heavy drain has been made on the accumulated fund of the New Zealand Farmers’ Union since 1932—£262, £lOl7 and £1285 ■ (totalling £2664) having been used during the three financial years just past. These figures are ineorreet, and I challenge Mr. Polson to show delegates to-day that they are correct. These erroneous figures have evidently been used to show the need for his reorganisation scheme. Later on Mr. W. B. Matheson, Dominion treasurer, stated that a persistent drain had been made on the accumulated fund during the last few years, and that it had been reduced from £10,579/13/6 in 1932, to £7094/0/5 at April 30, 1935, a drop of £3485/13/1, which Mr. Polson declared earlier to be £2664.

It is clear that neither gentleman understands the utility of an accumulated fund account. When I took over, 12 years ago, the reserve totalled £5OO, which I increased to between £7OOO and £BOOO, but at no time has it reached £lO,OOO. The only raid made on the invested corpus of the union has been one of £986/17/1, during the last financial year. My reason for submitting these figures to the Press is to show delegates that the drain on the union’s finance is not as serious as is made out.—-I am. etc., JAMES POW. Wellington, July 15.