THE DEVILS CREEK QUARTZ.MINING AND CRUSHING CO. (REGISTERED.)

Tuapeka Times, Volume V, Issue 243, 26 September 1872, Page 8

THE DEVILS CREEK QUARTZ. MINING AND CRUSHING CO. (REGISTERED.)

(To tiie Editor.)

Sir, — Proprietors of shares, in the ( above Company may think: themselves" peculiarly fortunate in having a vigilant curator of their funds, a competent and' an impartial censor of the acts of the directors, such as a correspondent signing himself " Shareholder," in. your issue of 19th inst., seems to be.

' It may be regretted ' that "Share-, holder " did not . feel such a lively interest in the affairs of the Company prior to the election of a board of directors ; or, if he did, that his expressed " desire " for economy did not take the shape of subscribing for a sufficient number of shares in the enterprise (50) to entitle him to become a candidate for a seat. The general knowledge he evidently possesses of, and possible practical experience in mining matters would have been invaluable, and might have led him intuitively to know the exact nature of the formation to . be driven through— albeit it was unexposed — and so to estimate the precise value of the work per foot, or per fathom, before asking for tenders. For instance, " Shareholder " would be just the man for the Waipori Water Race Co., or any other Co. G-ive a water race of prescribed dimensions, eight or ten miles in length, let fC Shareholder " have a look at the contour of the range along which it is to be cut, say from the opposite side of the river, and forthwith he will tell how much the work is worth per chain, and the exact point at which he is certain the race will command payable gold. Lose no time, but by all means ask for tenders.

" Shareholder " may be something of an architect also, and in this branch likewise his assistance might have been acceptable to his co-directors and useful to the Company — that is to say if his acquirements had been equal to the effort of drawing plans and writing specifications for a couple of sod huts, so that intending contractors should know'to a nail, or to a T, the style of building they were asked to tender for. Your correspondent's letter is brimful of suggestions and bristling with pronouns, and so the style is somewhat timid ; but as the subject matter is one which primarily concerns the shareholders — as distinguished from a theme befitting journalistic controversy — the writer of this will take leave for once to do a little ia the suggesting line, premising that he has no desire whatever to make "Shareholder's" pet hobby carry double, but merely to point its nose in a direction which, if followed, mi«hi lead its pitiless rider to the attainment of 'something practical. If my memory serves correctly, there is a rule of the Company whereby the directors must call a special or an extraordinary meeting of shareholders, provided a requisition, signed by the owners of 1,500 shares, requires them to do so ; and such a meeting is obviously the proper tribunal before which to try them, and is likewise the place for them to render an account of their stewardship. If the deficiencies of the directors are so glaring, " Shareholder" — presumably a whole host in himtelf — will have little difficulty to obtain the requisite number of "non contents," and the couise indicated will save him no end of anxiety, and economise the expenditure of much zeal in the interests of the proprietors, for having rushed so promptly to the rescue of their funds. At this early'stage of the proceedings, he will find ample scope and verge enough to exercise his special talent to "suggest" before the next general meeting to be held in June next.

Then, if he should not succeed, it will only prove that some people are so perverse as not to see that random "suggestions" made, and advice given gratis, by, one man are more valuable than a course of. procedure carefully decided upon by nine men.

As to what " Shareholder " has seen and heard, I may "suggest" to him a possibility of the adage anent hearing and seeing aptly applying in the present instance. — I am, &c, Another Shareholder.