RELIEF OF GUARANTORS

New Zealand Herald, Volume LX, Issue 18458, 23 July 1923, Page 8

RELIEF OF GUARANTORS

NEW ZEALAND BACON CC Y. AAAA-A']- A, i ~■':'-'■:': :A-' : ~; '"A,-i\A'A" PROTEST FROM WAIKATO. DAIRY. SUPPLIERS' PETITION ; [BX : . TELEGRAPH.—SPECIAL REPORTER.] | WELLINGTON. Saturday. A petition, signed by a large number of shareholders in the -New; Zealand Co-op-erative Dairy Company, Ltd,, has been presented to Parliament by Mr. H. Poland: . (Ohinemuri) '«praying that legislation be not passed enabling companies ■ to repay guarantors of* the New Zealand : Meas Packing and. Bacon Company, Ltd., out of the company's funds divisible among shareholders. '"' , '-■•': The petitioners state that, in common with . others ; engaged in dairy farming in New Zealand, they have passed and are still passing through a very difficult financial period, and aire depondent upon obtaining the i full benefit of all the products of their, farming operations. They, are not in a position to have any deductions made from the income accruing to them from the supply of butter-fat or milk to defray the payments of any sum to relieve the guarantors of the New Zealand Meat Packing and Bacon Company, Ltd., which would.be a hardship on them and unjust, to them, especially as most of them were already suffering, from the operations of that company and had incurred financial loss thereby. -~: , ....'.■ '...,•■ ~;-.-. . ~7. ; •':■■■'■■ '