Farmers’ Co-operative Auctioneering Co.

Northland Age, Volume 3, Issue 22, 8 January 1907, Page 7

Farmers’ Co-operative Auctioneering Co.

The settlers in the Waikato, Avhile desirous of having an auctioneering- concern of their own, realised that it would be beneficial to their interests to purchase a going concern, and, with this end in view, negotiations Avere entered into Avith Messrs. McNicol and Co., one of the leading firm of auctioneers of the Waikato, Avith a vieAv to the acquisition of their business. A satisfactory arrangement Avas arrived at, and a large number of shares in the ne\v company ha\*e been taken*up by the settlers in the Waikato, Avho realize Avhat it means for the producer to control the selling of his own products on a co-operative basis, as this Waikato concern is run. Another point is that this Waikato company Avill sell stock in Auckland, and as certain of the gentlemen Aviio act as directors are also interested in the Auckland Fanners’ Union and the Auckland Farmers’ Freezing Company, practically the whole of the settlers’ interests are centred in these three concerns, which, avc venture to predict, Avill at some future date, be all working as one.

The amalgamation of the business of the Auckland Farmers’ Union, Ltd., Avith that of Messrs. Wakelin Crane and Co. will, no doubt, be hailed Avith satisfaction by all the settlers in the North of Auckland, as the joint concern Avill bin carried on on a purely co-operative basis, and every shareholder avlio has stock, wool, skins, hides, tallow, etc., to sell, by sending them to the Auckland Farmers’ Union for disposal, will participate in the profits that are made.

The capital of the neAv company is £25, the number of shares being 5000 at £5, payable 10 per cent, on application, 10 per cent, on allotment, and the balance, if necessary, in calls of 10 per cent, at intervals of three months, so that if the Avbole of the share Avas called up, it would be over tAvo years before any holder Avould have to pay the Avhole £5. Of course any shareholder can pay, if he so desires, the whole £5 at the time of application, but it is pointed out that the company, being a limited one, there is absolutely no liability per.share beyond the £5. "The Auckland Faimers’tUjnion.has been established about threo- Jydars, and, besides having some 12 saleyards at the Wairoa and Kaipara, it also conducts annually avoo! sales in Auckland, as Avell as handling throughout the year skins, hides, etc. Messrs. Wakelin, Crane and Co. ha\*e 12 saleyards distributed over the districts between Kaitaia and Paparoa. The amalgamated concerns will lravetheir head office at Whangarei for the first two years, under the management of the present partners of Messrs. Wakelin, Crane and Co., and it is the intention of the directors to as soon as possible commence selling fat and store stock in Auckland. It has been proposed that the yar.ds adjoining the Auckland Farmers’ Freezing Company at Penrose be utilised. This is thought to be a step in the right direction, as OAvners of fat stock not realising expected prices can have their stock killed on the adjoining premises, frozen, and shipped Home with an immediate advance against the consignment. For the avool season, 1906-7, Avelllighted and commodious sale rooms have been secured in the premises of the Auckland Farmers’ Freezing Company, situated at the Railway Wharf, Auckland. The services of a recognised avool expert have been secured, and all sheepOAvners are respectfully requested to forward their avool and produce to the Auckland Farmers’ Union, Ltd., Auckland, where it will receive attention, and, after sales, be folloAved promptly Avith account sales. Should any avool not reach owners’ reserves it can be shipped to London, and, if necessary, an advance will be made against the shipment.

This amalgamation is yet another instance of the trend toAvards the cooperative* system AVhich is coming into very general and practical recognition throughout the Colony.—“ Northern Advocate.”