SOLD TO A TRUST.

Hawera Star, Volume XLVIII, 11 July 1924, Page 5

SOLD TO A TRUST.

MR LYSNAR ON MEAT WORKS TRANSACTION. (By Telegraph—Special to the Star.) WELLINGTON, July 10. “I have a grievance against my respected old friend the Hon. W. "Nosworthy as Minister of Agriculture,” declared Mr Lysnar in the House/ a statement which was received with many exclamations of feigned surprise from political opponents, who called upon him to speak out. “I propose on the occasion .to speak out,” continued Mr Lysnar. “I shall do it gently. The matter is connected with the sale of the Poverty Bay Meat Works to Vesty Bros. At this juncture I shall not comment upon the National Bank, which was responsible for the initial steps, but I have my own opinion.” " 1

A member: “That’s suggestive.” , Mr Lysnar: “There was no desire that the authorities should interfere with the bank’s right to sell under the mortgage. All we asked and expected was that the authorities should stop the bank selling to a combine or trust.” The speaker then read correspondence which had passed between the shareholders and the Minister, which had been already published, showing that the shareholders had vainly appealed to the Minister of Agriculture, to prevent the sale to Vesty’s by declining tp grant them a meat export license.*

Mr Lysnar explained that he was personally interested to the extent of £20,000, as lie had in addition to his shares guaranteed the company to the extent of £10,400. It'was a big loss, but not- his all, and lie had great sympathy with the number of retired business men who through this transaction had lost all their capital and had to resume working. Big financial interests had got away "with the swag, and the Meat Board, by allowing a meat trust with £0,000,000 behind it to get into the country showed its anxiety to please big interests and combines.' A Labour member: That, is a charge against the Government. Mr Lysnar said that his charge W’a3 against the Minister of Agriculture, as the Premier was out of New Zealand when the matter was decided. He described the commercial representative on the board as an enemy and advocated that the board’s constitution be revised to exclude him. He had submitted to the Prime Minister charges against Mr David Jones, one of the board members, urging his removal.