THE GOLDFEILDS.

Auckland Star, Volume XXXIX, Issue 68, 19 March 1908, Page 2

THE GOLDFEILDS.

DIRECTORS OF MINING COMPANIES. SHOULD BROKERS BE PROHIBITED? At various times suggestions bave been made pointing out that it is unwise for members of the Stock Exchange to act as directors of mining companies, and as a matter of fact, very few brokers in Auckland are directors, although years ago it was quite common for such positions to be filled by members of the Stock Exchange, as it was' found most convenient for the purpose ofMseeuring quorums at meetings. That a similh-r feeling exists in the Old Country may be gathered from the following paragraph. "A correspondent in the 'Financial News' writes:—For several years past there has existed a strong feeling amongst a large number of mining shareholders throughout the country that, as regards the question of directors, members of the Stock Exchange should be placed on the same basis as Cabinet Ministers; and many would like to see a short bill brought into Parliament to this effect. When a member of Parliament accents a seat in the Cabinet he usually resigns such directorships. A large section of shareholders are of the opinion that the directors of mining companies should be entirely free from the Stock Exchange." ROYAL OAK. The manager telegraphed this morning: "201bs. picked stone from the cross leader."'