MINING REFORM.

Daily Southern Cross, Volume XXVII, Issue 4329, 30 June 1871, Page 3

MINING REFORM.

TO THE EDITOR. Sir,— At the present time, when mining is Incoming of vital importance to tho prosperity of thia province, it would perhaps I|pt be out of place to suggest a few reforms, which, if acted on, I feel convinced would ba a boon to tho public, and at the same would do away with a great deal of the prejudice existing in regard to this goldfield. Ist. I would suggest that shareholders should not allow (under pain of dismissal) their mine managers to traffic in the scrip of the company. 2nd. That all .sharebrokers should be licensed the same as auctioneers, &c, and that such licensed brokers become members of a mining exchange, and, should the public make any charges or complaint agaiu&t any of its members, the committee of the exchange should investigate such charges, and, if they be proved, the member offending should be expelled. 3rd. I would recommend that, all transfers be registered within 14 days from the date of such transfer being given ; and for this reason, namely, It is becoming a practice foy parties to purchase shares, and if such shares go down in value, or calls bo made upon them above the amount they paid for them, they do not register, and the original holder, although he has sold, finds himself liable for calls, &c, and quite powerless to rid himself of such liabilities, as he cannot give out another transfer while the former one ia in existence, as it is liable to come in atf any moment for registration. 4th. For the convenience of shareholders, I should like to see legal managers of dividend-payin.g.cj.aims, when the offices of such companies are at the Thames, send a list of the shareholders, entitled to dividends to their bankers < in' Aupkland, where they could receive their dividends, and vice versa when the offices are in Auckland. It would be a great boon to shareholders, and it is very ' simple and easily done. I have no doubt ttiese reforms would meet with approval from all who really have the goodwill of this goldfield at heart. It would be very simple to call a public meeting, and ventilate the opinions of the public,, and should they meet with support these and some othor reforms (much needed) coujkl be carried irat. — lam,<fec, John R. BaVlis, SLjarebroker, Gxahamstown.