THE DROP IN WAIHIS.

Dominion, Volume 3, Issue 808, 4 May 1910, Page 6

THE DROP IN WAIHIS.

another discussion. WELLINGTON CO-OPERATION SUGGESTED. (By Telegraph—Press Association.! Auckland, May 8. Still another discussion took place at the Stock Exchange to-day regarding the decline in price of Woihi shares. At the first call close on .£6OOO worth of shares changed hands, prices ranging from 158s. to 1555. to 1575. As soon as the sales had been called over, Mr. D. MDonald said that no doubt it had been noticed by all members of tho Exchange that the 'Wellington peoplo ivere taking great interest in the extraordinary drop in prices of Waihi shares. As the Auckland Exchange had decided to investigate the matter, te thought perhaps it would be as ! woll to invite the Wellington people \to unite in whatever was undertaken. He moved: "That it be a recommendation from this Exchange that the committee oommunioate with tie Wellington Exchange for the purpose of urging joint aotion in this matter.*' ™ . ...

The chairman (Mr. G. A. Buttle) said ho was calling a meeting of the oommittee to follow out the instructions already given, and this suggestion would be cansidored with others. , Mr. W. Colbeck said that personally he failed to see what good could come out of searching the register, but as the majority of • the members had voted for that to bo done, of course, he was loyal, to the body. They might even have an idea that certain persons had sold, but the register might not show if they had done so. It was quite possible for shares to bo hold in a broker's name, and the transactfcms could not under such circumstances be traced. Mr.. M'Donald said the object of the inquiry was very plain to his mind. An impression had got abroad with regard to the Waihi at the present time that there wore grave dangers in connection with the mine; that these facts had been known for the past three months; and the object of the inquiry was to find out if that were true; also whether the true position had been disclosed to all shareholders at the same time, or only to a privileged few. All facts fihould bo disclosed to all shareholders alike.

Mr. F. Hull hoped that the inquiry would result in New Zealand shareholders' having all the information just the same as it was sent to London. ' He could not understand why .Auckland shareholders did not receive a weekly report from the Waihi the same as they did from the other mines. When they saw thousands of shares hurled on the market, and yot there ,was no news from ; the mine, it seemeil to him that there was surely something that warranted fuxwas quite sure the public were not satisfied with the position at present. The suggestion regarding united action with Wellington was referred to the committee.