N.Z. BACON COMPANY.

Manawatu Standard, Volume XLVI, Issue 173, 23 June 1926, Page 2

N.Z. BACON COMPANY.

THE BANK’S GUARANTEE. REIMBURSING "THE DIRECTORS. PUKEKOHE, June 19. The case of the directors of the New Zealand Bacon and Meat Packing Company, who had to meet the bank guarantee oil the day ot going into liquidation, was considered at a meeting of suppliers of the New Zealand Co-operative Dairy Company. Mr Dynes Fulton, chairman of the company, said that the two Taranaki directors of the bacon company had been reimbursed by the Taranaki dairy companies, but nothing liad been done in the Waikato. He pointed out that a levy of 2s per 10001 b. of butterfat per annum for two years would mean only about £1 per annum for the average supplier, hut would help considerably towards reimbursing the Waikato directors, the three of whom had been hard hit through having to find several thousands pounds each. Mr W. Goodfellow said the guarantee had been given in the interests of co-operation among the farmers and the failure of the bacon company had been caused by unforeseen circumstances. . , The meeting, by a large majority, resolved to recommend that a levy of 3s per 10001 b. of butter-fat per annum he made for two 'years for the purpose indicated.