The NCT Story

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THE FIFTIES • in business

I nitially the new co-operative venture was expected to be non profit making, the sole aim being for the direct benefit of members. First Contract The first contract negotiated by the new organisation was to supply Masonite Limited an estimated 20 000 to 40 000 short tons of Wattle with a maximum of 60 000 tons per annum. The contract was for two years at a price of £1/4/6 (one pound, four shillings and six pence) (R2.45 at the time) per ton delivered

Estcourt! The Union Co-operative levied a fee of 6d (five cents) per ton for handling expenses and charged three per cent on net returns for administration expenses. These figures are relative to the times but nevertheless ludicrous by today’s market prices. A start had been made and NCT was in business. The Co-op was achieving its goal of selling increased volumes of timber at realistic prices. From the outset there were constant efforts to obtain realistic prices for members’ timber.

The record of the first member of the Co-operative, David James Finlayson, of Pietermaritzburg

The NCT Story

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