A BIG DEAL.
PASTORAL AND FINANCE ASSOCIATION. REPORTED PURCHASE BY N.Z.L. AND M.A. CO. (Received 4. lid) a.m.) Sydney, January 4. The shareholders of the Pastoral and Finance Association refused to ratify the amalgamation scheme, and instead decided to invite tenders for the purchase of the business, whereupon the Co-operative Wool Co. withdrew from all negotiations.
It is understood that the business is secured by the New Zealand Loan and Mercantile Agency Co., Ltd.—(A. and N.Z.) [A Sydney cable on 23rd Dec. stated: —ln consequence of the recent fire the business of the Pastoral and Finance Association has been taken over by the Co-operative Wool and Produce Company, which was established in 1897 by influential pastoralists, of whom Mr McCaughey was prominent. Its capital was recently increased to £lBO,OOO. The arrangement is subject to ratification by the shareholders of both companies. It is believed the amalgamation effects a stronger union of pastoral interests from the viewpoint of shareholders and clients.]
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Bibliographic details
Hawke's Bay Tribune, Volume XII, Issue 18, 4 January 1922, Page 5
Word Count
160A BIG DEAL. Hawke's Bay Tribune, Volume XII, Issue 18, 4 January 1922, Page 5
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