CORRESPONDENCE.

Wairarapa Daily Times, Volume XII, Issue 3981, 7 December 1891, Page 2

CORRESPONDENCE.

ICasttrton Building; Soolety.

[to the editor.]

Sib,—The Directors of the Society have this week paid off the " B shareholders," and a dishonourable piece of business it is. When these shares were first offered to investors some five years ago, tbey were described in the prospectus issued by the Directors, in these terms:—" B shares are fully paid up £lO debenture shares, issued at par, bearing interest at seven per cent., and participating in profits. The number of B shares are strictly limited, and they are a secure and profitable investment for small capitalists. In other parts of the colony similar shares sell in the open market at a considerable premium, and it is anticipated that when once they are established in this district they will be regarded as a most eligible investment." Now, Sir, shares spoken of as " saleable at a premium " are evidently permanent shares, and that being so, the shares in question which have paid over eleven per cent, on an average for four years are worth, on any fair valuation, £ls each. The Directors of the Society, therefore, in paying off these shares at par (£10) are evidently depriving the holders of £5 on each snare or a total, en the whole, of some £IOOO, that being the " considerable premium " referred to in the prospectus. One need not use strong language to characterise their action, it speaks for itself. I need only add that the Directors who issued the prospectus are (with cue exception) the men who repudiated it.—l am, etc. Fides.

Stoats and Weasels.

(to the editob.)

Sir,—The stoats and weasels im* ported during the last two years have not by any means all wandered away from the district. Those that remain having become localised with their offspring born on the ground, will, if not recklessly destroyed, probably do good service, Within the last few weeks the chief shepherd here, whilst mustering sheep, disturbed a weasel in tbe act of killing a half grown rabbit, the body of which was brought into the homesteid. A few days later some eelers on the bank of the Whareama river heard in the dusk a rabbit squeal. Tbey went towards the cry and disturbed a stoat or weasel in the act of slaughter. The rabbit was picked up and removed by tbe eelers, who returned to their fishing. Within ten minutes the piocess was repeated ; and a third time almost immediately after. Tbe rabbit in the third instance was left with its destroyer, Tbe gentleman eeler, my informant, was unable to say whether the natural enemy he found at work in the dusk was a stoat or a weasel, but is sure it was either one or the other. I remain, etc., J. C. Andrew.