MR LYSNAR’S CASE

Feilding Star, Volume 3, Issue 523, 2 May 1925, Page 5

MR LYSNAR’S CASE

VESTEY’S AND THE BOARD s'OME MORE EVIDENCE (Per P/flso Association.) Gisborne, May 1. At the Meat Co. enquiry, Thomas Powdrell, farmer, of Wairoa,, director of the Wairoa Freezing Co. said that during the last •to seasons Vcstey’s had operated freely in the Wairoa district, and were affecting the company considerably. He regarded them as a verv serious combine. The Wairoa works were losing business through Vestey’s and were faced with calls for further capital for killing away from the works. The Commission paid by Vestey’s to agents gave them a big advantage He thought that if Vestey’s continued to' operate in the Wairoa, as they had been doing, the Wairoa works would go the same way , as the Waipaoa works. The Meat Board had not functioned to the fullest extent. It should do something to‘protect the farmers from a combine. It should arrange marketing on the same lines as the butter control and could also assist farmers financially. His hoof had been stored so long in Vestey’s works in England that he had-got nothing for it, hut had paid 30s per head for the privilege of sending the meat Home. Most of this had gone to Vestey’s. To Mr Myers, witness said that during the last two years, the shareholders had been tempted to sell stock outside, the district.

Mr Myers: They are not loyal to the company ? Witness: Farmers are unable to protect themselves from the big interests.

George Hartley, a co-op director of Poverty Bay Farmers’ Meat Co. gave evulenee as to meeting Mr Jolly and offering to raise more shares. Mr Jolly said shares in the Poverty Bay Company " were not worth a snap of the fingers to his bank, and urged the directors to sanction the sale of the works without the consent of the shareholders. Mr Jolly insisted that the Bank wanted its money and said out of the loss of ,-£84,000 the Bank would carry .£22.000. Both Lysnar and Jolly said jfchejy would fight to a finish, then the directors went to see the Meat Board and Mr Jessep said fchoy were lucky to have Vcstoy's offer. Witness denied Mr Jones’s statement that witness had said they were anxious for the sale to go through. They met -Tolly next morning', and he urged the importance of letting the sale go through; otherwise the concession of £22,* 000 would not he given. They gave Jolly to understand they would sooner lose their money than their reputation among the share* iiolclors. To Mr Myers, wife ess, admitted he was prepared to sell the works at a reasonable priefe-t Eustace Lane, a Wairoa f.vmcr, safd he sent a shipment of beef through the Wairoa freezing works, but didn’t get satisfactory' results. He not only lost lifs beef, but received a debit .note against his account. He thought it was a fine opportunity for Mr denes, of the Meat Board, to distinguish himself, but he didn’t do so. Tie simply got a letter referring him to the bank. To Mr Jones he admitted the bullocks were sent home just before the Meat Board came into , office.