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THE BLUE SPUR CONSOLIDATED.

This is how tho ' Tuapeka Timos's' correspondent in London writes concerning the above company:—"The fact that I have lived many years in your district has naturally led me to take a more than ordinary interost in the progress of thc3o mines Bince ever they reached the market in this city. Considering this fact, I am both pained and annoyed at tho disappointment the business has caused here. Some of the financial journals have been waxing very hot over the matter. They have denounced everything with even the color of New Zealand about it as dangerous and unsafe, and have warned capitalists and speculators from touching anything in your colony. They have torn the prospectus on which the company was founded to shreds, and thoy hold the member for your district, Mr J. C. Brown, responsible for all tho loss and injury that have befallen the people hero. This is a great pity ; depend upon it it is doing your colony incalculable harm, and it will be a long timo b'jforo it is forgotten. One of the shareholders of this company wrote to a financial paper the other day giving an account of his loss, He wofl a retired tradesman, and had scraped togother a little provision for himself and family, and he said that he invested nearly his all in this New Zealand gold mine, and now, he stated, both himself and his family were reduced to a state bordering on destitution, and ho was acquainted with others in the same condition as himself. The tone of his letter was very passionate, and concluded by saying that ' Hell was not hot enough nor eternity long enough for the man who could thus d-liborately ruin so many people.' But no one could speak stronger on the subject than Sir Walter Buller ; he has suffered heavily in purse and reputation by the transaction, though, like others, he is only a victim. Tho mere mention of Mr J. C. Brown's name in his presence nearly drives him into a fit, and ha vows that the moment he is allowed breathing timo he will make short work of what he calls 'that inglorious farce, the Lawrence Board of Directors.' The next general meeting promises to be uncommonly lively, and I have been informed that evidence is being collected in New Zealand with tho object of instituting a prosecution against the principals in the transaction. All old New Zealanders here regret the whole business, because of the disgrace it has brought on the colony, and the injury it must inevitably do any future enterprise coming from your colony,"

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Permanent link to this item

https://paperspast.natlib.govt.nz/newspapers/ESD18890603.2.11

Bibliographic details

THE BLUE SPUR CONSOLIDATED., Issue 7923, 3 June 1889

Word Count
437

THE BLUE SPUR CONSOLIDATED. Issue 7923, 3 June 1889

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