MR COBBE AND THE FARMERS’ FREEZING CO.

Manawatu Times, Volume LIII, Issue 6755, 7 November 1928, Page 3

MR COBBE AND THE FARMERS’ FREEZING CO.

(To the Editor). Sir, —A report -is being circulated in the country to the effect that T, as chairman of the Feilding Farmers Freezing company, had the opportunity of saving the company £40,000 and that I missed the chance. It wouM spem, if the author of the report be correct, that the Union Bank, if pressed hard enough, and if threatened with the closing of tho works, would have written £40,000 off the company’s overdraft; but that owing to slackness on my part, tho opportunity was missedThe whole thing is unmitigated nonsense, circulated for obvious reasons. Tho Bank knows everything about tho financial position of the Freezing Company, and has always treated the Company well. And even if it had been ignorant of the position, neither I nor any other of tho Company's directors, would have attempted to swindle it by means of false representations.

If I, or tho directors as a whole, had boon so silly as to attempt a trick of that kind, we would not blamo the Bank if it at once came to terms with a certain Dominion organisation, that is at present anxious to obtain control of the farmers’ works. The result t<r the town and district would have been little short of disastrous. I shall take this opportunity of saying that I did not seek the office of chairman of the Freezing Company. It was pressed upon me by the company’s directors I have done tho best I could for tho company under very trying conditions. My chief anxiety is to make the works successful for the sake of both the town and district. And I wish to make it quite clear, that if the financial genius who unearthed this big blunder of mine, could bo induced to take the position I now hold, I would be only too willing, for the sake of the company, to make room for a better man. I am, etc., JOHN a. COBBE, Chairman of Directors, Feilding Farmers’ Freezing Co. Ltd/