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Evening Star, Issue 3818, 20 May 1875, Page 2

The Taranaki Herald ’ of May 12 has a subleader which contains matter that may probably interest many of our readers. It is stated that a half-yearly meeting of the N. Z. Titanic Iron and Steel Company has been held, and that the shareholders appeared to be tolerably well satisfied “with the future results of company.” No doubt many Dunedin shareholders will be inclined to say that it is just the fault that they have to find with the company,that the results will obstinately persist in being future. But it really does seem as if something of a more satisfactory nature than has hitherto been accomplished is likely to come to pass. It is stated that the blast furnace will be completed in a few days, and that in all probability the fires will be lighted in August next. This looks like business. The conduct of the Taranaki Board of Management too, with regard to the Dunedin shareholders should, if rightly regarded, afford encouragement to those shareholders. It will be remembered that a majority of these gentlemen refused to pay the calls of the company as they fell due, no doubt with what appeared to them very good grounds for so refusing. But the Board, we are told, summoned every defaulter, with the result that the overdue balance is nearly paid up. This, we consider, is strong evidence in favor of the bona fides of the directors. Had the concern b?en at all shaky, or in the least degree approaching what is vulgarly called “a swindle,” the directors would hardly have been bold enough to take such a firm stand. After the bitter comes the sweet, too. The Dunedin shareholders have been shown that they must pay up or suffer the consequences, but now that they have been taught this salutary lesson, they are to have directors of their own. Messrs Ashek and Hawobth accordingly have been chosen as the Dunedin directors of the company.