Grey River Extended.

Greymouth Evening Star, Volume XXXI, 19 November 1901, Page 4

Grey River Extended.

Writes a correspondent in the Christchurch Press: —lt is quite a considerable time now since the above company purchased ~ the Dobson No. II Co's. dredge and whenthe same was effected shareholders were given to understand the dredge would be working in a fortnight, Dp to. the present nothing has been done with Jegard. to working the Grey Extended Company's claim, and the directors make no secret of the fact that they do not intend to start until all shareholders in arrears have paid their calls. This is a very nice position for them to take up so far as the vendors are concerned, because the more that is squeezed out of contributing shareholders the better off the vendors become in respect; of their shares, but how about the position of contributing shareholders who have paid all calls made to date ? I happen to be one of these, and I want to know when lam going to get a run for my money. It seems to me a palpable fact that the purchase of the Dobson No. II dredge for the Gray Extended Company was a move of the vendors to protect their own interests, and I think it is about time the contributing shareholders made amove irr the matter of getting a board of directors and secretary who would conserve their interests in a more business-like manner than the present officers. My own opinion is the directors are doing what they believe to be the best, but their eyes have not yet been opened to the fact that they are continuing a policy detrimental to the majority of tho contributing shareholders.