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Poverty Bay Standard, Volume X, Issue 1034, 9 February 1882, Page 2

“A Shareholder,” says the Hatches Bay Herald, “ in the East Coast Land Company, through our correspondence columns, seeks some information as to what is being done by the directors. We cannot find anyone who knows more than the very concrete fact that he has been called upon to pay several calls. What is being done with the money so raised ? The shareholders have a right to know, but if our information be correct, they can learn nothing. If this course of secrecy be followed, the directors will not have cause for surprise if the public lose confidence in the Company. We believe that the principles on which the Company was formed are sound, and that if the business be well looked after and cautiously conducted there is no reason why the Association should not be a financial success. But it is an unfortunate circumstance that several of the promoters are noted for forming and promulgating excellent theories, but that they have failed when asked to put their own theories into practice. Is it so in this case? We hope not, for the failure of any plan for putting good settlers on the large tracts of Native lands now lying absolutely waste is a public misfortune, and deals a blow at the prosperity of the North Island. If the directors be wise, they will say what they are doing, if they are doing anything.” Some months ago Mr DeL autour, M.H.R.. in the columns of our local contemporary during the heat of the late elec lion excitement here, took upon himself to state that the public condemnation the Company was receiving was for political purposes only. Mr DeLautour said then : “ It is understood that all criticisms at present bestowed upon the New Zealand Native Land Company are political, and based upon the necessities of the present political position at Gisborne. I for one am quite willing to remain passive until after the eventful 9th of December. After that date 1 shall claim space to reply to questions raised in reference to the Company which may be of public interest.” The present opportunity appears to be a most favorable one for Mr DeLautour to remain no longer passive. Many other shareholders may be in tho same enquiring mood as the one in Hawke’s Bay.