COAST TRADING

Poverty Bay Herald, Volume LV, Issue 17527, 23 July 1931, Page 12

COAST TRADING

TUPAROA CO. TAKEN OVER I TOKOMARU'S TRANSACTION <Special to the Herald.) TOKOMARU BAY. this clay. Thf amalgamation of tlio two most important trading linns on the East Coast north of Tola pa Bay was completed this week, when the Tuparoa Ire (imp Co. Ltd., passed into the possession ol the Tokomaru Bay Farmers’ Trading Co., Tid. The transaction is understood to have been completed on a cash basis, hot no indication of the valuation placed on the absorbed business is obtainable. Founded many years ago when Tuparoa was a thriving centre of industry oil the Fast Const, owing to its briiur situated on one of tho really worlv aide bays, tlie Tuparoa Trading Co., Ltd., moved its headquarters, to lt,uatoria seven or eight years ago, when it built new premises opposite tlie present Post Office site. The move was dictated by the development of Ruatoria as a chntro of population from which radiate the roads serving a large portion of (he hinterland, and enjoying also the benefits of a .main road location. In recent years, the prophecy that Runloria. is to be the main' centre of the East Coast lias come near to realisation. Ilie subdivision of. 'native lands and the creation of a dairy industry in the ueiehborhood. with a' factory adjacent to the township, itself, doing j muejf , to promote tlie stdtiis of tvliat >v.as. formerly •m moi*o than ii,'crossp'otidk settlement. The growing importance of.the township no doubt tias had mu'jli to do with the course adopted bv the Tokomaru Bay company in absorbing its rival concern, which ranked second among the cooperative companies on tlie Coast. The combined businesses will be managed in future from Tokomaru Bay, and members of tlie present staff at beadquarters will be transferred to Ruatoria to take charge of the respective denartmenls there. Tlie handing-over of the Tnnaroa company will be formally completed on August 1.