MARKETING OF WHEAT.

Hawera Star, Volume XLVII, 1 June 1928, Page 5

MARKETING OF WHEAT.

PRODUCERS TO ORGANISE

CO-OPERATIVE COMPANY FORMED. (BY TELEGRAPH—PUEBB ASSOCIATION.) ASHBURTON, May 31. A very large conference of wheatgrowers of North, Mid and South Canterbury and North Otago was held here to-day to consider the question of the formation of a wheat pool. The president of the Mid-Canterbury executive of the Farmers’ Union, Air F» G. Evans presided. Among those present were the Hon. D. Buddo, Mr T. D. Burnett, M.P., and Air J. Bitchener, M.P. The conference received the report of the committee set up in December with the following instructions: (a) To assist in marketing this season’s wheat and to do all possible to maintain the value of wheat for the growers, and to this end to endeavour to eo-operate with stock and station agents, etc.; (b) to devise a permanent scheme for tlie marketing of wheat in future seasons ; to submit such a scheme to the growers through tlie Farmers’ Union and A. and P. Associations.

Mr IV. W. Mulholland, explaining the scheme, said it provided for a nonprofit, co-operative marketing company with a capital of £50,000, only, wheatgrowers being eligible tc> hold shares, with a minimum of four shares, and with a liability of £3 -which might never be called up. . Every member would sign a contract to sell. all his wheat through the company for a period of five years. The contract would allow members to withdraw,, if, say, 120,000 acres were not signed up by a certain date. The control of the association would be directly in the growers.] hands by the following method : The wheat growing area to be divided into. four districts, viz., (1) north of Rakaia, (2) between Rakaia and Rangitata, (3) between Rangitata and Waitaki (4) south of Waitaki. The number .of directors would be seven, and they would Be elected by an electoral committee. The management of the - business would be controlled by the directors, who would appoint as manager the best man obtainable in the country. It was estimated that the first payment for members’ wheat would be made within 21 days after delivery and would be about two-thirds of the price obtained by the company, subsequent payments being made as sales were effected, and the final payment about the end of tlie year. After a long discussion in which all aspects qf the matter were examined, including the operations of similar organisations elsewhere, the conference resolved to approve generally, of the committee’s scheme, the committee being directed to form a company to be known as the New Zealand Wheatgrowers’ Co-operative Association Limited, with subscribed capital of £50,000 in shares of £l. A ballot of the delegates resulted: For the scheme, 77; against, 1. The following provisional directors were appointed: ' Messrs W. IV. Holland, J. B. Hall, J. Carr, R. B. Meek, John Brown, P. 11. Talbot, A. IV. Barnett, C. V. Wood field. A. total of 454 shares was applied for in the .room. Air Meek saying that North Otago would probably -take a quarter of the initial amount. One thousand sterling is required for registration.