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Auckland Star, Volume II, Issue 353, 25 February 1871, Page 2

The Advertiser has the following amusing incident: —lt was a common practice in Auckland to transfer scrip in companies to " dummies," to avoid c.ills, and with an understanding that the property should ho re-transferred if it ever shou'd be of value enough lo make that operation worth while. As this was generally done by large holders, and the wealthiest Jmen in the company, the effect was frequently to burst up the companies, which had to be wound up with great loss to the creditors. A good many companies, however, managed to keep alive, and in some of those now the scrip is of considerable value, in consequence of better prospects. In the instance we kave been informed of, the gentleman went the other day to his " dummy," and requested that the scrip be re-transferred, as now, instead of carrying with it a heavy liability, it was worth several hundred pounds. To his astonishment and disgust, however, the " dummy" refused, saving that he had taken the riak and responsibility, and would now take the profit.