PROPOSED FARMERS' AUCTIONEERING COMPANY.

Waikato Argus, Volume XXI, Issue 3240, 26 July 1906, Page 2

PROPOSED FARMERS' AUCTIONEERING COMPANY.

Fob some time past the farmers of Waikato have been agitating for a reduction in auctioneers’ commissions and, with this object in view, the following circular has been sent to the leading farmers in the The question of forming an Auctioneering Company in the Waikato was discussed at a meeting of the executive of the Hamilton branch of the Farmers’ Union on 14th inst., and it is strongly of opinion that the present time is opportune for starting a company to be worked on similar lines to those so successfully adopted by Messrs Abraham and Williams, of Palmerston North. This company, originally a private one, has been turned into a limited liability company in which the farmers are the principal shareholders. It pays 8 per cent, dividends in addition to rebates on commissions to shareholders, and the executive sees no reason why we cannot do the same. The success of such a company depends to a large extent on an efficient manager and staff, and a few gentlemen have approached Messrs McNicol and Co. with a view to securing their co-operation. If the farmers desire it this firm is prepared to turn its business into a United Liability Company. To prove the bona fides and extent of the business the firm is willing to leave assets to the value of £30,000 in the proposed company, and also to guarantee an annual dividend of six per cent. (6 per cent.) on the paid up capital for a period of five years. By adopting this plan we would step directly into a large and lucrative business, which would be still further strengthened by co-operation with the farmers. Will you kindly attend a meeting to be held in the old Borough Council Chambers, Hamilton, on Wednesday, Xsth August next, at 10 a.m., to discuss the matter.” At this meeting the proposal will be thoroughly discussed, and a report will afterwards be submitted to the farmers before any liability is incurred.