THE OLD WHAU G.M. CO.

Thames Star, Volume VII, Issue 2158, 3 December 1875, Page 3

THE OLD WHAU G.M. CO.

(To the Editor of the Evening Star.)

Sic, —I beg to suggest that the shareholders of the Old Whau Groldmiaing Company should promptly pay the present call, and then: call an extraordinary meeting and enforce the directors to let the mine on tribute. The Advertiser, in its issue of the 24th ult., says that after the first call was made the company " returned £413s in dividends, and hopes that the same good fortune will follow the uresent call." Bosh J Only a little while ago the same morning paper hoped that the company would soon resume paying dividends. Every now and then we hear of a few good specimens been found, and that the mine is improving. A former manager was going to do wonders. Well,, so he did, and spent during his term enough on the mine to have paid a dividend of two pounds per share. Then followed his successor, who, it was said, knew where to find the gold ; and now they have another, but who I do not know, neither does it matter, for every fresh man in his turn, as a matter of course, sincerely believes he canlead the directors to the new vein which is to pay another £4 13s in dividends: I think it is the greatest folly imaginable to. put men in as directors ignorant of mining. You would not put a tailor to drive an engine, nor a shoemaker to sail a ship. Then elect directors whom managers know they cannot gull. We have heard enough nonsense about the Old Whau. ■We all know the distance from making a few calls to the auctioneer's hammer is not great. How often are mines upon which thousands of pounds have been spent sold by auction for a song? And how often are they bought by a few knowing ones ? May it not be so in this case? Shareholders, see to your interests. I trust some of them will let .us know ; what they think of the present condition and future prospects of the Old Whau. Perhaps some practical miner among them can give the directors some •useful hints as to how the mine can be made to pay. It seems to me that after you buy mining stock you are entirely at the mercy of the directors and manager. How is it times are nearly always dull on

the Thames ? Because ninety-nine out of every hundred people who buy scrip nerer see their money again. I have beard it said that there is more swindling in the United Kingdom in mining investments than in anything else;' is it the same at the antipodes P Sir, if you can devise a remedy, our goldmining districts will become flourishing communities, and you will deserve a monument erected to perpetuate your memory.—l am, &c,

A Shakeholdee.