THE FRUIT INDUSTRY.

Colonist, Volume LVII, Issue 14143, 21 July 1916, Page 7

THE FRUIT INDUSTRY.

(To the Editor of "The Colonist. 1') Sir, —A statement having been circulated to the effect that at a meeting held in Wellington on May 10th last, the directors of the JsTelson Co-operative Fruit Compa.ny refused to entertain the idea of amalgamation with other fruit companies .in the Nelson district, will .yoii permit me space, as one of those present-at the meeting in question, to give this statement an emphatic-and unqualified denial, and to state briefly what took place' at that meeting? Mr H. G. Hill was granted permission to speak at the meeting, and stated that the JSfelson-Stoke "company, which he represented, had placed 7000 shares and were prepared to goto allotment and i egistrlation at once. He suggested that the Nelson Co-operative Comnany, which at that time had placed 12,00U •shares, should not proceed to registration, but should -refer the whole matter ba,ck to their shareholders, with a .view to the flotation of: a larger company with himself las general - manager, and ihe would undertake- to induce his com-

pany to do the same. Questioned by I the chairman, Mr Hill repeated that! his company were in a position to go to| registration. At this.- time it wasj known to several in the room- that oTving to ' withdrawals .-• arid differences of opinion it woaild not be possible for the Stoke company to register within the time 'allowed by ,the'-law, and subsequently event>.'liave substantiated this. The district having had all too many false starts, . and the position of the Nelson Co-operative. Company being very sound, it was not considered advisable to defer the registration of the company, but it was pointed out that the company was being founded on broad lines,' and that at any future time it would bo quite. ii l. order to consider amalgamation with any company having similar-objects and. similar'safeguards of the.-shareholders' interests. So far as the Nelson Co-operati\'e Company isconce-ned the position is uncliaiiged to-day; the company is not pledged to any policy or contract which caniiot ,be adapted to suit altered circumstances. They have no legacies in .the." shape' of heavy fiotation expenses to pass on, and no material ■contracts ■With; any person or company which could possibly be.'objected to. ; ':.■.■■■' " I am, etc., ' \-\ F.---E. NOTTAGE. STnsman, July 17th, 1916.