LOCAL MEMORANDA.

Poverty Bay Standard, Volume IX, Issue 920, 23 February 1881, Page 4

LOCAL MEMORANDA.

Meetings. Poverty Bay Horticultural A Floricultural Society—Good Templars’ Hall, To-morrow, 24th inst. Poverty Bay Club—Club Rooms, Friday, 25th February. Creditors in the estate of Archibald Douglas, Court-house, Thursday, 24th Feb. “ Creditors in the estate of 0. Bnrgess, at the Court-house, on Thursday, March 3rd. Auction Sales. Pitt and Bennett, at Makaraka, on Wednesday, February 23—Cattle. Pitt and Bennett, at their Mart, on Saturday, February 26—Lease of sections 374 Pal-merston-road, Gisborne, and 118, Patutahi. B. Tonks and Co., at Auckland, on Wednesday, March 2nd—Leasehold of Gisborne Brewery. Sittings of Courts. Quarterly Sittings of Licensing Court —Gisborne, Tuesday, Ist March ■ Awanui, Tuesday, Ist March. Sittings of Assessment Court—County of Cook, including Ridings of Waiapu, Tologa Bay, Arai, Gisborne, and Waimata, Courthouse Ormond, Wednesday, March 2nd; Ormond Highway District, Court-house, Ormond, Wednesday, March 2nd ; Poverty Bay Highway District, Makaraka Hall, Thursday, March 3rd ; Arai Highway District, Schoolhouse, Whakato, Saturday, March 6th ; Waikohu Highway District, Mr. Chambers’ house, Repongaere, Wednesday, March 9th • Patutahi Highway District, Mr. Bilham’s house, Patutahi, Saturday, March 12th ; Borough of Gisborne, Court-house, Thursday, March 17th. Calls. South Pacific Petroleum Company. Saturday, 26th Feb.—Fourth Call, 3d per share. Amusements. Gift Auction and Conversazione, during Easter week. Tenders. For re-papering dwelling house—This day, 23rd inst. J Foi laying and erecting about three miles boundary fence—Friday, 25th inst. For supply of- forage to Constabulary— Saturday, 26th inst. ~ , cutting and'cleaning side drains, and gravelling and pitching roads—Cook County Council, Friday March 3rd.

It is an every day saying that there are “ wheels within wheels ;” and it is becoming rather “ thick in the clear ” as time progresses, as to the hanging fire in the Soiith Pacific Petroleum Co. The qubsfion presses itself on 'the aharehbldbrs with aggregating force, “What’ next ?” The local management has been openly, and almost publicly censured. The public naturally want to know for what; and without trespassing upon the secrecy of the meeting held last week, we may safely say that there are most substantial reasons for dissatisfaction among the shareholders. When Mr. Clarke arrived from Sydney to take charge ' of the Company’s affairs and act as Mr. Fleming! writes, “ for the best interests of the Company,” a tender had been all but accepted by the Board for sinking to 1000 feel ; the first two hundred feet to cost £5OO, including the erection of the derrick, cartage of engine, stores, tubes, &c. We are informed that at this moment 165 feet only have been attained by the management, substituted for that of Mr. Clarke, at the cost of £1,500. By the former tender 1000 feet had to be reached at a cost of £2OOO. These and other matters, such as the present stoppage of work—which the shareholders have been asked to believe is for the purpose of obtaining a “ new idea ” of a collar for joining the tubes, from Sydney —and that Mr. Fleming is coming over, which is now clearly shown not to be his intention ; and several other inscrutable discrepancies, are causing the shareholders to consider the necessity of appointing a vigilance committee, so that in the future there shall be no secrtcy, and that information about our own oil springs will not have to filter through the Sydney Board before it reaches the Gisborne shareholders. It is considered that the very fact of the secrecy is evidence of want of straightforwardness in the conduct of a company, the majority of the shares of which are on this side. Under all these circumstances it is mooted that another meeting will be soon held for the purpose of appointing a committee to examine into the “ alleged ” incompetency ; to report to the shareholders, and to the Sydney Board ; to generally recommend the best way out of the present, difficulty ; and otherwise assist the management in Sydney when they next commence work ; for it is pretty evident that unless the terms of such committee be complied with, by the Sydney Board of Directors, I there can be no further call collected in , New Zealand ; and,the company will come to a deadlock. The whole thing 1 sums itself up into one of those phases so aptly illustrated in some of our Colonial Parliaments.