STOCK DEALINGS

Evening Post, Volume CXVII, Issue 113, 15 May 1934, Page 10

STOCK DEALINGS

BULLS FOR NATIVES

i PROFITS BY A DEALER

EVIDENCE AT INQUIRY

(By Telegraph.—Press Association)

BOTOEUA, This Day.

The Native Affairs Commission was engaged this morning hearing evidence concerning sfoek dealings with the Native Department by Donald Wilson, veterinary surgeon and stock dealer, of Hamilton.

Wilson said lie had known the Native Minister for a number of years and first commenced dealings with the Department in 1931, when the Minister visited him, at his residence and they discussed stock. He admitted that he might have made a profit of 38 per cent, on a line of bulls sold to the Department for the North Auckland scheme, but said that this1 was considerably decreased by the heavy expenses which he had to meet in .connection with the sale. He admitted having bought the bulls in the Waikato for ten guineas each and having sold them for fourteen guineas. This price was still below the market rate at the time. He was in a position to buy cheaply owing to his knowledge of Waikato stock. The chairman pointed out that the farm director of the North Auckland scheme had communicated with tho head office.of the Native Department | in Wellington and had stated that he could buy bulls of as good a typo in the Auckland district for ten guineas each. The director had given evidence before the Commission that in spite of this he had been instructed to buy bulls from Wilson at fourteen -guineas. On the face of it, it was an extraordinary transaction and required an explanation. DEALS WORTH £10,000. Witness said he was positive that the farm director could not have bought bulls of the same quality at ten guineas each, although witness was able to do so owing to his special knowledge. He admitted that his total transactions with tho Department over a period of twelve months amounted to £10,000, but said that all the dealings had been on the basis of market rates, and that in practically every '• case the Department had bought from him at below the ruling , market values. His expenses had been heavy and had decreased his profit. . ' Mr. Quilliam pointed out that according to tho schedule) produced, Wilson had sold another line of sixty-two bulls at a profit of. 51 per cent., and a line of heifers at a profit of 25 per centWitness admitted that he had probably sold more than 1500 grade heifers to the Department during the tw'elvo months, and that the profit on these would be in the vicinity of 13s a head. GROSS PROFITS. Mr. Quilliam put it to witness that I his gross profit from dealings with the Department over the twelve months had been £.1556 13s 6d. Witness: I can say quite definitely that the Department could not have I bought any cheaper than they did from me. Wilson admitted that his transactions with..the Department ceased suddenly in September, 1932, but said he did not know whether this had anything to do with the fact that it was at this time that the Audit Department drew the attention of the Native Department to the sale of bulls for the North Auckland scheme. Witness emphatically denied that any person other than himself had benefited from his dealings. He had operated purely on his own account as a vender of stock, and considered his profits were fair.