Grocers Question Financing of New Co-operative Shops

Gisborne Herald, Volume LXXVI, Issue 22869, 12 February 1949, Page 6

Grocers Question Financing of New Co-operative Shops

(P.A.)

NAPIER, Fob. 11

The monopoly exercised by co-opera-tive stores and the method of financing these co-operatives was viewed with grave concern at the annual conference of the New Zealand Master Grocers’ Federation.

A remit adopted by the conference said the federation was not opposed to the principle of co-operative stores, but considered that private traders, and in particular returned servicemen, should have the opportunity of opening stores in these districts. A second remit asked the Minister of Finance to state firstly what advances had been made by the Bank of New Zealand to consumer co-operatives, and secondly what security had been taken over such advances. Mr. H. R. Blott, Auckland, declared that a co-operative store at Orakei was being established with a capital of £3OOO, but the store and stocks would cost at least £20,000. “The building included a grocery department that is more like a picture theatre than a shop.” he said, adding that if finance was being advanced for such ventures without proper security then private traders, particularly returned servicemen, were entitled to similar treatment. '’he remit was adopted by 22 votes to 20.