THE N. Z. CO-OPERATIVE LAND AND LABOUR COMPANY.

New Zealand Herald, Volume XXII, Issue 7415, 25 August 1885, Page 6

THE N. Z. CO-OPERATIVE LAND AND LABOUR COMPANY.

f ,".• TO THE EDITOR. . Sib,—ln opening the pages of your paper this morning I was highly gratified to find that -had been successful in drawing the badger; but as the dog said to the hedgehog, "I foand him a rough Chrißti»n." .'And now, air, to deal with this modern marriage-maker between labour and capital on the Gretna Green of caprice. First, as to my flippant and inconsequential remarks, I should have been better pleased had Mr. Rees refuted them or proved their flippancy, and would respectfully remind him that dogmatism is not force, neither is assertion proof. Next, -as to my not having read the prospectus. I have both read the prospeotas of the direotors and the accounts of the various meetings of the association that have from time to time appeared in the Hkb>ld, and in my last letter I have evidently mixed the two, for which I make all haste to render due apologies; bat 1 maintain that what I have said is essentially correct, and that Mr. Rees's method of dealing with it cannot otherwise be characterised than as a miserable evasion. I notice Mr. Rees talks a great deal about scope; 1 have seen this word used under such peculiar circumstances that somehow it is always associated in my mind with the idea that there is more powder than shot about it. I also observe in the last paragraph of the prospectus that we are told "the first issue of five thousand shares has been disposed of." It in fair to presume that these would naturally fall into the hands of the promoters. In the ninth paragraph of the prospectus we read "all shares first issued or taken up to the amount of £5000 will bear a preferential dividend." Thus the first £500') will bear a preferential dividend of £1 per cent, over the second, £2 per cent! over the third, and so on. This is significant. It savours very strongly of that charity which begins at home and usually ends there,, .and is akin to that wisdom which cometh.not from above.—l am, Ac, C. A. E. Abbott, _, i, Exchange Chambers, Queen-street. 22ad August, 18S5.