FARMERS’ UNION.
MEETING OF WAIKATO BRANCH. CRITICISM OF THE BANKS. (Peb United Pbess Association.) HAMILTON, October 3. Caustic criticism of the prerogative exercised .by the banks, whereby companies working on overdraft get no advantage from the improved exchange rates, was voiced at the Waikato Farmers’ Union to-day. Mr J. H. Furniss, president, stated that the suppliers of the New Zealand Co-operative Dairy this year had lost £120,000 through what he termed the “ cold-blooded exploitation by the banks” and through agents’ commission. About Jd per lb of butter-fat was lost through the exchange rate. A motion urging the Farmers’ 'Union to convene a conference waa carried. Mr D. Bruce, a director of the New Zealand Dairy Company, detailed several abortive attempts at a marketing agreememc between Amalgamated Dairies and the C.W.S. It was urged that as there was a prospect of the British Government adopting the bulk purchase system New Zealand should make an effort to co-operate with the C.W.S.
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Otago Daily Times, Issue 21148, 4 October 1930, Page 19
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159FARMERS’ UNION. Otago Daily Times, Issue 21148, 4 October 1930, Page 19
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