Untitled

Oamaru Mail, Volume IV, Issue 871, 30 January 1879, Page 2

Mr. Rattray has been sufficiently luck}*, or tinhtcky, to triumph over Mr. R. Wilson - , and is once more a Director of the Colonial Bank of iS'ew Zealand. It was a tough struggle that brought about such a result ; so tough, indeed, that one is led to enquire whether the game is worth tho candle. Mr. Rattray is a clever business man, of largo colonial experience, and so is 3lr. Robert Wilson' ; and cither of these gentlemen possesses ability that would have enabled hint to serve the Bank faithfully. But we- were surprised at the tactics adopted to ensure Mr. Rattray's return. The expedient of purchasing shareholders' proxies should not iiave been resorted to. Such a course is damaging to the Bank, and discreditable to the community. Such conduct would have been more appropriate in connection with a much less reputable institution, and would ordinarily earn for itself an anything but complimentary epithet. The object of voting i-> f " secure the return of the man best suited tor a position ; but this desideratum is not realised if cajolery, intimidation, or bribery is used as machinery for hoisting a candidate into that position. We do not say that Mr. Rattray is answerable for what would be deemed by some a disreputable proceeding : but we cart solemnly declare that we state the whole truth when we say that memoranda were forwarded to shareholders far and near asking them to sett their votes. This S3 the substance of one of the memoranda, the original of which we saw ourselves : " Pear Sir—We are anxious to secure Cfio return c-t Mr. Rattray as l>ii>ctor of the t'ohmiat Bank at the next meeting. To this end yoti (night employ s.,mie one to collect piosies in blank. and forward to its. We I'M allow hatf-a-wvwn for every hundred shares obtained. Mr. Hattray is an old hanker, arid previously aeted on the Board a.- a director.— Yonrs'fafthftdly. ."

We are in of additional interosttng itenn e-'ttnected with this hitdness. bru r»s it w>>uld be nei't-ssury rhat we should be in a position to prove beyond doubt their authenticity before publishing them, we withhold them for the present at least. We have, however. said enough to open the eyes of the shareholders, who have a right to investigate the matter, with a view to disputing Mr. Uattkay's claim to . hold his seat, should it be deemed necessary. We can scarcely imagine that the sharebrokers referred to sought to purchase proxies without the knowledge, at least. .f Mr. !t.vrrr.AY. If they did so. Mr. P.imiT will have an opportunity "f sett:n™ himself right with Uk- public. It caeasily be seen that if such corrupt practiceare permitted to exttt unnoticed, the local directory of a lank may become so consfttuteit as to be itijun'ous to the interests of shareholders and the public.