The Evening Star. PUBLISHED DAILY AT FOUR P.M. Resurrexi. WEDNESDAY, MAY 2, 1888.

Thames Star, Volume XIV, Issue 4469, 2 May 1883, Page 2

The Evening Star. PUBLISHED DAILY AT FOUR P.M. Resurrexi. WEDNESDAY, MAY 2, 1888.

In the cases of certain mining companies on the Thames, far too much secrecy is indulged in. In the majority of instances, when a manager has any* thing to report, a "veil of mystery is thrown over the mine he is connected with until the information to be divulged is made known and used by the directors in Auckland, it is then vouchsafed to the Auckv land people generally, and after undergoing a process of sifting, reaches Thames shareholders. A. short time apo some remonstrance was made against the system pursued by one of the leading companies here, by persons concerned in the operations of the mine, with a Tiew to causing those locally interested, to be iuformed of important doings—such as finds, &&o f in the claim; but, we hear that no satisfactory result has ensued, or is is likely to come of it. It appears that the mine raauußer of the Deep Level Company reports the proceedings in the mine to the Chairman of Directors in cypher, and that worthy makes public, in

Auckland, such portions of it as he may deem fit, whenever it may please him to do so. Now,, this is very wrong and improper, and tends to do a great deal of mischief. The operations carried on in any mine should not be shrouded in mystery. The Brokers' Association placed themselves in communication with the directors of the Company with the object of having the same coarse pursued in respect to this Company as is the prac tice with others, viz., posting copies of telegrams sent to Auckland, at the Corner, half an hour after their despatch from the Thames; thus, local shareholders are apprised of anything that may happen to their property in due course, and they cannot take unfair advantage of the knowledge through being on the spot. The reply sent to the Association was that the directors would forward from Auckland copies of telegrams received from the mine if the Brokers would pay the expense of wiring; this, they very naturally declined to do. A number of^ shareholders then sent a petition to the Board asking that telegrams should be made known here, as they were by the managers of other companies, and pointing ont the disadvantages local holders of scrip were at, owing to the coarse pursued; but the sapient directory refused to alter their previous resolution, and so the matter rests. We would urge upon the directors in the company in question the advisability of conforming to the very healthy rule we refer to, and avoiding any unpleasantness that may occur from unintentional reticence on their part; various misapprehensions and disagreeable impressions may arise in this, as they have done in other cases; and it is a very simple matter to avoid the possibility of such things, by acting as we suggest. ..-■ ••■■'■ ■ i