COMPANY IN DIFFICULTIES.

Waipa Post, Volume XXI, Issue 1301, 7 October 1922, Page 5

COMPANY IN DIFFICULTIES.

REQUEST FOR A STATE GUARANTEE. The difficulties of the New ZealandMeat Packing and Bacon Company were mentioned in the House by Mr Nash (Palmerston North) when "put-

ting a request to the Government for assistance to enable the bacon packing industry to be carried on this season. Mr Nash stated that the temporary stoppage of the Bacon Packing Company was causing great difficulty to farmers who had their pigs ready for sale. The Packing Company was in a very unfortunate position. The directors had guaranteed £60,000 for -last year to enable; it to carry on, and they wished to secure an amendment of the Finance Act giving power to the Government to make advances_ to the producers by way of guarantee, the amount required being £75,000. The farmers would be prepared to guarantee up to about £40,000, so that they were not asking the Government to take over the busines or interfere with it. They wished to have ...a guarantee for 12 months. He asked if the Premier would receive a deputation on the subject. Mr Massey said it was •' a serious proposal to make that the Government should provide a guarantee of £75.'000, and it should have been made to himself in the first instance so that the Government could, have had an opportunity of considering it. "I want to do what, is right, but my first duty is to protect the interests i of the country," concluded the Pre- ' mier, "and I will do that to the best of my ability."