"A DEBT OF HONOUR."

New Zealand Herald, Volume LXVI, Issue 20385, 14 October 1929, Page 14

"A DEBT OF HONOUR."

REIMBURSING GUARANTORS.

FURTHER APPEAL TO FARMERS. [BY TELEGRAM. —OWN CORRESPONDENT. ] HAMILTON. Saturday.

A further reference to llio moral debt hold to lio owing by Waikato farmers to Messrs. J. Barugh :in<i E. C. Banks and the estate of the late Mr. Thomas Paterson, in regard to tho guarantee ■'which they were called on to meet in connection with the failure of the New Zealand Cooperative Bacon and Packing Company, was made at the annual meeting of the Farmers' Co-operative Auctioneering Company to-day. Several speakers appealed to the shareholders to do their part in wiping it out., if they had not already contributed. Mr. F. M. Strange, who introduced the subject, said the liability that the guarantors took on their shoulders belonged to the farmers of the Waikato. The committee set up at the last meeting of the New Zealand Co-operative Dairy Company, Limited, proposed to make an activo canvass of as much of the district as it was possible to. reach. To facilitate the liquidation of the debt, it was hoped that farmers would voluntarily send to Mr. F. C. Hansen, Waitoa, what they thought was a fair and honest contribution. Mr. Hansen said the shareholders of th 6 dairy company had contributed about £ISOO. but nothing had come from tlio auctioneering company for Mr. Barugh. The contributors to the fund to date had given about £5 each. The chairman, Mr. 11. S. Hawkins, said ho thought it would lie a stain on tlio farmers of the district as long as that guarantee was not met. The company iiad been advised by its solicitors that it could not give anything to tho fund, but a committee had been set up and had collected a sum which fell far short of tlio total required. Ho understood that from tlio voluntary contributions the three guarantors had received £SOO each, out of £SOOO each which they had provided. Mr. Barugh said lie appreciated the expressions of the speakers, but he felt very uncomfortable about the matter. . A Voice: A debt of honour, sir. The, meeting applauded ttii^eiitiment,..