The Daily News. MONDAY, NOVEMBER 15, 1909. TARANAKI PETROLEUM COMPANY.

Taranaki Daily News, Volume LII, Issue 239, 15 November 1909, Page 2

The Daily News. MONDAY, NOVEMBER 15, 1909. TARANAKI PETROLEUM COMPANY.

The annual meeting of the Tanumki Petroleum Company takes plate to-day, and l>y their action will the shareholders largely determine tile fortunes of the industry. It is a lamentable fact that the momentous importance of the industry is -being made subservient to the gratifying of personal ambition and the satisfying of personal animosities. The vilifying campaign that has been lately pursued must act to the detriment of the industry, for it cannot be expected that the outside shareholder will ictain confidence in- a concern that, | if a tithe oi the rash allegations made were true, iluis been of late most iueom- j petently, if 4 not dishonestly, managed. .'So much has been misrepresented, 60 many irrelevant issues have been raised to confound shareholders, that few of them know exactly 'how things stand. 3s o <loubt the directors (in whom we have every confidence) will lay the position (fully before shareholders to-day, and it is to be hoped that differences will be fully threshiM out and Unfortunately, it will be almost impossible to get a true deliberative "voti, as ■ the bulk of the voting will be done bv ! proxy according to tile views of the holders of proxies. This is nw.>i unsatisfactory, and it seems u pity thai | means could not be taken whereby t!ie j views of every individual Knareholdi-r

could not be ascertained on a matter that vitally concerns the future success of the industry. What the concern uquiics more than ever befor-' is sound business management by men of independent mind; .the worst that • otild possibly happen would be the control of the concern by directors the majority of whom might be but the catspa.vs oi a dominating personality.