THE FALL IN WAIHIS.

Wairarapa Age, Volume XXXII, Issue 10186, 11 March 1911, Page 5

THE FALL IN WAIHIS.

LONDON COMMENTS,

i The LuL'dou correspondent of the New Zealand Herald wrote as follows on Jantuiary 28th:— In connection, with the weakness of the Y/aihi shares the Financial News yesterday said that an extraordinary rumour was in circulation. It was to the effect that a powerful "bear" interest was at work,"endeavouring to force another company to dispose of ks holding. Brokers who act for tlie Dominion have attributed, to' them the remark that on balance local operators have purchased more .shares "thani they have sold, and that-, from a mining standpoint, the London selling is inexplicable. Commenting on the fall of Tuesday last, the Financial Times says: —"Tire Dominion sent a few buying , orders for but these were swamped by local selling, though the carry-over revealed an over-sold account in the shares." ! Under the nom-de-iplume off "Hiwai," a eorrespondsnit

writes to the Financial Times pointing out that from 1895 to 1900, when ithe dividend' was only Bs, the price was seldom, if ever, below £5, and oftener nearer. £B. "Shareholder" writes:— "I have taken the trouble to visirb.the company's London office ajwl inspa-qt the register of shareholders, and found (that those whom I considered wellinformed, had not sold a single shaire.

Much comment was made in the Dominion when, in May last, at the commencement of 'the ©lump, a local director ti"ansf erred his shares to London on his visit to England. ': This caused mruch selling, I have £ not the slightest doubt, hut 'as an ".absolute fact not a single .share was sold by this director, and on, his return to the Dominion in October last the whole was transferred back to Auckland." In conclusion' "Shareholder" attributes the troubles to the directors' policy, of silence. "Mining Investor" thinks that the present low price of Waihis. is isolely due to tlie ridiculous, policy of the 'board, who insist on treating a mining company as if it were a bank ov an insurance company. "It is '■■ high time," he writes', "that' the I 'general body of sharehol&drs awoke, j and decided to compel their directors to isplit the shares, and to deal with .profits on a basis more suitable to a mining company. Personally, while agreeing fully with tlie idea of maintaining a reserve reasonably adequate to- the probable - re- . quir-enientis of the compa.ny, and to the propel - writing down of machini ery in ail annual, proportion equivar ilent to its life, I shall desire to have I my share of dividends during my 'life-time, and not to have them stored up for posterity."