DUMMYISM.

Inangahua Times, Volume III, Issue 77, 14 February 1877, Page 2

DUMMYISM.

[to |hb editor inangahua times] Sif, — In yoar issue of the }2th insfant there appeared an advertisement signed "Andrew M'Shain." The a.iver* tiser has endeavored to show that I hare maligned his character by certain statemeats which I made in' the District Court, concerning his transactions with Messrs Bayfeild and Cummins, regarding his bonafide purchase of 500 shares in the Sir Julius Yogel Company, from Mr BayfeiM.OH the 4 h May, and his acknowledged acceptance as a dummy of 1000 shares in the same company, from William Gummins. Now, sir, were the circulation of your paper confined to the district I should be content to let Mr M'Shain's communication pass unnoticed ; for the public within the district are fully aware of the whole circumstances, and I doubt not their minds are fully made up as to which of us is telling the truth. In order, however, that your readers may jud^e of what actually took place, I will here recapitulate the statement voluntarily made at my office by M'Shain, aud which was written down at the time by my clerk, Mr Swanson. — Copy of statement handed in to Court :— " Andrew M'Shain stated in the presence of Mr Louis Dalies and Mr M'Lean that he paid nothing for the 1500 shares in the Sir Julius Yoc;el Com' pany, and that at the time he was worth nothing, and took the shares as a dummy. Keefton, October 26th, 1876." This statement was entered into his folio in the share-register, and in the face of that statement he now comes before the pub« lie and calls upon me to retract what I now verily and conscientiously believe was true in every respect. Yet Mr M'Shain seeks me to restore bis character, forgetting that he even now acknowledges to be a dummy in respect of 1000 shares. I hive no desire to inj ire ft£r M'Shain, but as he has comj elled. me to reply to bis advertisement, I have a word to say about dummies and also about those who make dummies. Mjr opinion regarding such a class is this, that they ought to be collected, together and drummed out of ! the district dp the tune of the Rogue's I March. Regarding those who by their sweet persuasion and' their promise to "see them through it," they ought to be making good roads for their dupes. The dummy system has prevailed on this field for some time, and the public would do well to try and assist Liquidators to rid the community of those weak enough to be made cat's-paws for men who hold high social positions — men who ought to know better than to shufEa out of their just liabilities. Such men in deserting their fellow shareholders forget that in transferring tbeir liabilities to dummies they often rob poor honest men — men with families who are not in a position to bear the burdens of others. I do not al-

lude particularly to the Julius Yogel. Nearly every company that I am wind« ing up has a fair number of dummies, and my mind is fully made up that where I can expose a dummy and his principal, I shall always do so, in the hope thereby of putting down a system which is worse than highway robbery. The Liquidators' duties are often unpleasant, but so long as I pursue a fair and impartial course, the power of dummies will have no effect or influence upon me. I remain, sir, yours respectfully, • WILLIAM M'LEAN, Eeefton, 13th Feb., 1877.