CORRESPONDENCE.

Poverty Bay Standard, Volume I, Issue 66, 2 July 1873, Page 2

CORRESPONDENCE.

[Our columns are open for free discussion ; but we do not hold ourselves responsible for the opinions of our Correspondents.]

TO THE EDITOR OF THE STANDARD. Sir, —I observe in your leader of the 21st ■ ult. some remarks conveying a direct censure upon what you apparently consider the too favorable terms which the public have granted to the promoters of the now existing Kerosine Company. As this appears in curious contrast with your leader of May 31st. (I quote from your own files) “ Indeed we think that under the circumstances they (the promoters) have acted liberally,” and as since that was written a very considerable concession to the public has been judiciously yielded by them through the exertions of the Directors as shown in a statement published by you in the issue of the 11th, I should be glad to know how you reconcile these two statements, as, if need be, I am quite prepared to prove that the shareholders, so far from, as you assert, holding a “ position not so good as it might have been or indeed should be ” and being “ clogged with a condition which materially reduces its profits” stand in reality on a more favorable footing than obtains generally in similar companies and. in only a relatively similar position as to terms to those granted to other Mineral Companies in enterprises not so quickly or inordinately profitable as the success of kerosine borings in America have proved to be.—l am Sir, Yours faithfully. Wm. Steuart.