Original Correspondence.

Kaikoura Star, Volume XXVI, Issue 34, 4 May 1906, Page 5

Original Correspondence.

THE FISHING INDUSTRY. TO 'Till-: EDITOR. Sir, The provisional directors desire to set Mr D ividson right on the following points :--(!) Directors only hold office till the stat utory meeting, w’liich must be held not less than one month nor more t han three months from date when the company is entitled to commence business. (2) No person who has applied for shares will be liable f.nany costs m connection w ith the company’, as. by the Act, if no allotment is made i.e., if the company is not floated, the directors (provisional) have to return all deposit-: in full within ninety days from date of prospectus, and therefore the directors will have to pay* all the expenses incurred. (3) The time ’during w hich the directors would refrain from exercising tiny' voting pow-er in connection w ith the promoters' shares, —during which the said shares would be non-interest bearing, and during which they' would be non-trans-ferable- - is twelve months from the time that the works tire completed and freezing operations actually commenced. —I am etc., A. E. A. WIFFE.N. Fertile Directors. TO THE EDITOR. Sir. In your issue of May Ist. in a letter above the signature of Mr Jas. David.-on, I am treater! to a very choice series of personalities as regards my position and interest in the Kaikoura Refrigerating and Fishing Company. 1 am not going to enter into a controversy' with Mr Davidson as towhat he considers compatible with the calling of a gentleman, but this I w ill say. —that if placing a few compan.y shares in a businesslike manner disqualifies any man from being one. this fact has never been known before, and Air Davidson, as an authority', is certainly to be complimented upon making such a startling discovery know n. However, I am quite with your correspondent in leaving the public to judge between us on this question, which, by' the way, As quite apart from and a side issue to the matter that was under discussion. Mr Davidson claims to have as much probity and honour as myself. I do not doubt this for one moment : probably he has nine), more, and as lie appears to be in such a frantic hurry to advertise his philanthropic motives possibly' such is the case. I am. etc. A. E. A. Wil FEN. |This matter having been fully' ventilated, this correspondence must now cease. - Ed., K. S. |