MINING COMPANIES' REGISTERS.

Dominion, Volume 3, Issue 928, 22 September 1910, Page 4

MINING COMPANIES' REGISTERS.

■■,- ' SHOULD BE OPEN '"TO-:■■'.'■ ■;■■.'-,. ;; vinspection? ; : :Vv;.;' Ih .'the. House of Kepresehtatives"yesterday, Mr. Fisher,;,M.i'.,ipr Wellington Central, asked the Prime Minister whether the' Government was considering, '] or would consider, the advisability of aniendiing the law this session nr tne direction I'm compelling mining companies, to open ' their saaro registers tor the inspection of the public. Mr. Fisher, saiu that lie: would. like to -point - out that-.thore was a large section- of the..community in this country who were seriously perturbed at tie condition. of affairs in connection ■with the.Waihi Gold.Mining Company. They found'it impossible: to ascertain what share transactions were taking place—whether they were taking place on behalf, of holders in New Zealand or holders in the Old Country. Unless' the law was amended, it was impossible for legitimate investors .: to find: out what transactions were ' taking place.' ■-. ', ..,';: :• '• ..' "I recognise that this is-a very important matter," replied-the'Prime Minister, who added that,if. Mr. Fisher gave notice of a question on/the subject'he would be glad to look into it.;... Questioned by a Dominion. - representa-. tive,. Mr..•■•Fisher-'elaborated.-his reasons for putting a question in'the House. .; He said a number of investors were'anxious to know exactly the cause of the unusual depreciation in Waihi stock. He .. was informed that an analysis of .'the .share register of not only the Waihi but any other company would enable - people to form an idea of the transactions'that were being effected.- There'.were some who believed that a little engineering was going on from the London end, while others considered that the drop in the shares was a genuine one, and that 6hares had at last returned to normal. A diminution ~of something like two millions in the capital value of the shares was enough to justify the Government -taking action, if it could.do any good. Mr. Fisher.added that his proposal might be incorporated in the amendment of. the Mining Act.. , . E." ' . , '.» '.