OIL COMPANY MATTERS.

Taranaki Daily News, Volume XLVII, Issue 81884, 8 November 1906, Page 2

OIL COMPANY MATTERS.

TO TUJS ISDITOK. Sir. —ln connection will) oilier ■'hai(.-holder*, i uavc received a circular aum the directors of the Tarauaki U 1 to, ck'at'.ng with Mr Laing s action re proxies, and as it i* in ihe fce>t interests of the company that the liixreholck-rs snouid know exactly what f* going on, 1 venture to ask lliiough your paper, what is Uie nature of ihe d.fiorcnce of opinion bwween Mr Uiuig- and die d lectors or pan ul diem.'' it is evident that in some matter ul policy or administration he nncis h.msclf opposed to them, and that ihe shareholders may know and be able to judge between tnem, I ask, What is it. ; it is al-o belure we proceed to elect new Directors, in whoso hands w.ll lie the fuitunes 'of tnis new industry, that we should j Know something- more of their views j»or the luturc and their leasons ior actions tney have taken or allowed to be taken in tiie past. Why, lor instance, before Uie Company nave really stiuck oii (except in one Doie) r-huuid Air l-'a.r be p a iu =o .arge a a -salaiy as £-750 per annum? And J f iiut he iS aiteiwards io receive connngLju on oil flowing lor 31 consecutive days ceases, if the oj ceases also t Aiso whether the work 01 a oorer is of so scientific a character and demands such special sk.il that /,() need be paid for their services. 1 have been told that one of them was a few muntas ago employed as a kind of *ub' -foreman on die roads and getting abuut <j/. p«r day, and tnat another was a solicitor's clerk in Sidney, or somewhere over the other s de. if these things are true, they want explanat.on • it noi, they ah uid be authornat.vely contradicted. 1 would also a>k shareholders to turn over in their minds whether it is desirable that Hock-brokers should act aa d rectors. Two of thoso seeking" election are such. For my part. 1

can sue many reasons wily it is not des.rable. 1 dont like wr.ting anoiv anmusly, but ] have good reasons, and, alter all, tile question is not, who ; >.ys'it', but, is it true and to the po.nt?—l am, etc., SHAREHOLDER,