The Ward Farmers' Association.

Hastings Standard, Issue 378, 21 July 1897, Page 2

The Ward Farmers' Association.

(By Telegraph.) (Per Press Association.) Duxedik. This day. On resuming this morning Mr Ward was recalled with regard to transactions with regard to the taking over of the business of the Ross Twine Factory at Invercargill. He gave two cheques, one for £3OOO odd and the other for £6162 for the purchase of the stock sold by his company. As to the first cheque Mr Boss was practically in difficulties owing to pressure from the Colonial Bank and he (Mr Ward) agreed to assist him by the formation of the Twine Company. In doing so he stipulated with Ross that the stock purchased in the first instance by himself as a private individual should be taken over by the new company, plus interest and all charges to date. If Mr Solomon's statement was correct that he had paid £33 7s per ton for this twine it would be denied absolutely. He had this twine in, hand for some time and had not the slightest doubt the directors knew he was to receive the profits on this twine. The company was formed for a twofold purpose —to relieve Ross's account, which was a congsested one, and to dispose of the stocks of twine he held. The second cheque for £6462 was signed by Ross himself and Mr Fisher, who was one of the directors, and on its face the specific purchase was shown of the twine as per warrants. He had learned that some of this twine had been bought by him from Ross at £3B per ton. There was nothing hidden about the transaction for the purchase of the twine since the specified purpose of the cheque was shown signed by the manager and one of the directors.