CORRESPONDENCE.

Waipukurau Press, Volume XXVIII, Issue 74, 21 March 1933, Page 2

CORRESPONDENCE.

(We do not hold ourselves respou sible for, or identify ourselves with, opinions expressed in this column.] HAWKE’S BAY FARMERS’ MEAT COMPANY (To the Editor) Sir, —May I ask for space in your paper to comment on Mr Ebbett s statement regarding the affairs of the H.B. Farmers’ Meat Co. I have no wish to perpetuate a state of affairs which does not benefit anyone. I was unable to attend the meetings of shareholders held in Hastings but allowed my name to appear on the leaflet circulated, as I considered some alteration was necessary and that the leaflet would assist to induce shareholders to attend the general meeting called by the directors. Dining a discussion on the Meat Co. s affairs with several signatories to the pamphlet just prior to the general meeting, 1 did not hear any of the baseless rumours which appear to have been in circulation. The matters that -were discussed were (1) The endeavour made by our directors in conjunction with others to purchase the Wairoa works. (2) The transfer ©f shares to Messrs Borthwick and Sons. (3) Complaints regarding allocation of space. I consider it is a mistake to transfer shares to Messrs Borthwick and Sons or any other companies as they become dry shares and as such would not be in the best interests of a co-operative concern. It was partly for this reason that 1 suggested that the directors should obtain the power to enable them, when necessary, to buy in the company’s shares. The great changes of the last few’ years have made it essential to alter business methods and for this reason great care should be exercised in curtailing the powers of the directors. However, the fact that Mr Ebbett himself moved a* resolution to alter certain clauses in the Articles of Association, is evidence that he recognises that some change is necessary. It it quite true that many companies have carried on successfully under similar articles, but it is also true that many have gone bankrupt. Mr Ebbett is justified in defending himself against personal attacks, especially when one considers his services to the company, but it is easy to understand the apprehension and

suspicion of many shareholders in the light of present day happenings in many other companies. Without casting any reflections on any one connected with the Hawke’s Bay Farmers' Meat Company, I may say that Mr Ebbett could safely have issued a similar challenge to the people circulating rumours in connection with a certain Canterbury works just prior to the thorough investigation which took place. I know, however, that no investigation is either needed or asked for in connection with the H.B.F. Meat Co.’s business. It is mainly policy matters which are in question. Thanking you, Mr. Editor, for the space you are allotting me. —I am etc., H. M. CHRISTIE. Waipukurau, 18/3/33.