THE STATE OF DREDGING INDUSTRY.

Greymouth Evening Star, Volume XXXI, 26 November 1901, Page 4

THE STATE OF DREDGING INDUSTRY.

Dunkdin, Nov 24

Mr H. E. Easton, who is leaving the colony on Friday for England, has addressed the following letter to the Press: “I know that there are many people in this colony, women included, who are paying calls into companies that are doing nothing, and I am satisfied never will do anything, but spend the fund in their possession in directors’ fees and office expenses, after which must come liquidation. It is, therefore, the duty of the Government to look into these matters, and afford relief by compelling immediate liquidation, and thereby relieve the strain on those who have not only parted with their available policies to meet calls. Such companies as these have brought on a panic, and as long as they are in existence genuine and proved companies will never see their real value as is well known that many people had, and have to sell their good stocks to keep worth less companies afloat. I would caution the public against being led away by alarming rumours about all dredging claims, as the industry is undoubtedly a good one it worked on a sound basis. The public are now indebted to the Premier f>r promising amended legislation next session. It is, however, to be regretted that this much required legislation did not come on last session, and I am somewhat surprised that with the grave issues at stake it did not make the members feel that the legislation required, such as indicated by the Premier, is of the very gravest importance. The taxpayers of this country pay annually a large sum towards the keeping up of mining schools etc., with a view to develop the mineral resources of the colony, but this expenditure will prove useless to the colony until the law prohibits the floating and carrying on of companies such as have been exposed. On my return to New Zealand I trust the promised and muchrequired relief will bo effected by the Government.”