The Feilding Star. Published Daily. TUESDAY, MAY 29, 1894. THE N.Z. LOAN AND MERCANTILE AGENCY COMPANY.

Feilding Star, Volume XV, Issue 325, 29 May 1894, Page 2

The Feilding Star. Published Daily. TUESDAY, MAY 29, 1894. THE N.Z. LOAN AND MERCANTILE AGENCY COMPANY.

Although requested by Mr Stewart, the receiver of the N.Z. Loan and Mercantile Agency Company, to refund the dividends they received whicb wer« paid out of capital, the old directors have politely declined to disgorge. Possibly this unwillingness to do what some people would think a natura! act of justice is as much owing to lack of funds as anything else. Whether tbe Kcceiver will invoke the aid of the law to enforce his request remains to be seen, but we feel certain tbat he will first assure himself that the said Directors are worth " powder and shot " before be incurs any ex pense in taking legal proceedings. It appears to be tolerably certain tbat tbe Board of Trade purposes to do something in the direction of making the offenders account in a different manner than they have yet been compelled to do,for their very questionable conduct towards the unfortunate shareholders and clients of tbe Company who had entrus t d them with the control and management of tbeir affairs. The new Board of Directors is said to be an exceptionally strong one, composed of practical business men, and remarkable for tbe entire absence of " guinea pigs " from among tbem. Writing in reference to the Company, the Sydney Wool and Produce Journal says :— " It need scarcely be mentioned that nothing whatever has transpired during the examination of tbe Directors in England reflecting in any way on tbo colonial management, which, as everyone knows, has always been conducted in a manner to justify the confidence so implicitly placed in it." _____