TIMBER INTERESTS.

New Zealand Herald, Volume LXVII, Issue 20556, 6 May 1930, Page 12

TIMBER INTERESTS.

CONFISCATION THREATENED.

PROTEST FROM TARANAKI.

INTERESTED FARMERS' DEMAND.

[by telegraph.—own correspondent. ] NEW PLYMOUTH, Monday.

Tho threatened confiscation on May 18 of the powers and interests of the Tongariro Timber Company in certain King Country native lands by tho Aotea Native Land Board was protested against by 70 shareholders of the Egmont Box Company at Eltham to-day. Mr. J. B. Murdoch, chairman of tho Box Company, explained tho relation of the Egmont Box Company to the Tongariro Timber Company, and said that the confiscation of the Litter's interests would bo, detrimental to tho Egmont company, with its extensive connection with the dairying industry of Taranaki and Wairarapa. Mr. J, L. Weir, solicitor for tho Egmont Box Company, referred to special legislation which had been passed expressly to protect that company's interests in lands now tho subject of proposed confiscation. 110 declared that the company's legal rights wero being infringed, and that tho Nativo Land Board was exceeding its powers under tho Act.

On tho motion of Mr. J, R. Corrigan, tho following resolution was carried unanimously:—"This meeting of dairy company representatives whoso respective companies as shareholders in the Egmont Box Company have large financial interests connected with tho Tongariro Timber Company, Limited, particularly in tho Whangaipoki block, amounting to £50,000, emphatically protests against the notico served upon tho Tongariro Timber Cornpany by tho Aotea Nativo Land Board, confiscating timber interests in which the Egmont Box Company is interested, without making any provision to have the Egmonfc Box Company's claims considered or arbitrated upon." Ihe resolution also declared that under special legislation, Parliament gave tho Egmont company full protection of its rights against any default on the part of tho Tongariro Timber Company, Tho resolution urged tho Government to see that the Egmont company received a full nieasuro of protection, and asked for an immediate and definite statement that the company should bo protected. Ihe resolution added that,the confiscation of tho Tongariro Timber Company's rights without any provision for arbitration or compensation was unfair and the spirit and intention of the legislation passed last year. This legislation gave the Minister for Native Affairs power to settle, adjust, compound, submit to arbitration, or compromise, any actions, accounts, claims or demands. The Government was, therefore, asked to exercise tho powers conferred on it and submit'the Egmont Box Company's claim to arbitration in accordance with tho spirit and intent of tho Act.

The Egmont company claimed to be a national concern, inaugurated and supported by a large proportion of farmers engaged in dairy production. It was composed of 57 dairy companies in the Ta'ranaki and Wairarapa districts, with £IBB,OOO of capital. Tho company entered into negotiations with' tho Tongariro Timber Company simply to provide timber necessary for dairy industry. The chairman and several shareholders were appointed to wait upon the Hon. G. W. Forbes and tho Minister of /Native Affairs with a view to having tho Egmont company's interests safeguarded.