COAL MINE SHARES
MORE CARE ADVISED.
[special to “stak.”]
AUCKLAND, May 6.
Speaking yesterday at the Auckland Rotary Club, on the flotation of coal companies, Mr. C. M. Richwhite, director of Glen Afton Collieries, said that in most cases it was the unscrupulous company promotor who was the culprit.
According to the speaker, this promoter draws up a prospectus of what is apparently a real gold mine. He then searches round for a few prominent business men who without realising the duty they owe to the industry, their friends, or to the investing up thbespoenT ;DawvUcfiicfk.sm public, never take the trouble carefully to check up the facts, but just rely on the statements contained in tile glowing draft prospectus.
“The public of course look at it this way. They say by jove, this looks a good thing. So and so is chairman and so and so is a director. They are smart: chaps and have- undoubtedly carefully investigated this proposition. If it’s good enough for them its good enough for me. Reaction comes along at a later date.”
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/GEST19300507.2.56
Bibliographic details
Greymouth Evening Star, 7 May 1930, Page 7
Word Count
178COAL MINE SHARES Greymouth Evening Star, 7 May 1930, Page 7
Using This Item
The Greymouth Evening Star Co Ltd is the copyright owner for the Greymouth Evening Star. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). This newspaper is not available for commercial use without the consent of the Greymouth Evening Star Co Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.