WAIHI MINE.

Evening Post, Volume LXXXI, Issue 103, 3 May 1911, Page 5

WAIHI MINE.

directors' issue a report, question of control. By Telegraph.— Press Association.— Copyright. LONDON, 2nd May. The directors of the Waihi Goldmining Company of New Zealand have issued a report on the present position of the mine. They emphasise tho point that no ore bodies balow the ninth level have been tested, but add that, neveiv theless, though, the. mine has lost, for the present, the quality of stability which it was believed to possess, its potentialities are enormous. Three hundred and eighty-seven. New Zealand shareholders, representing £33,600 shares, oppose the transfer of the Board to New Zealand, and the directors state that they do not believe that the British- shareholders, who own seventy per centum of the stock, desire "Mi© control to be given to New Zealanders. > The Wellington Committee -of Shareholders in the Waihi Company has supplied the following : — "The Wellington Committee- of shareholders in the Waihi Goldmining Company have read tho Press Association message dated London, 2nd May, which) infers that the policy of our committee 1 is to transfer the control and management of the company to New Zealand. The five hundred and seventy-five shareholders whose proxies have been sent by this committee to London, and who represent a capital value of considerably more than 33,600 shares, do not wisli to transfer the control of the company to New Zealand; but do desire, in the interests of all shareholders, a complete, cliange in the personnel of the directorate and of the local management, and to that end have nominated Mr. R. H. Topham and Mr. A. E. G. Rhodes, late of Chrisfcchurch, as directors. The cablegram appeal's to this committee to indicate that the London board, finding that the majority of the New Zealand shareholders are opposed to> them and the local New Zealand management, are endeavouring to save the situation by an appeal to th« prejudices of English, shareholders. '