CORRESPONDENCE.

King Country Chronicle, Volume VII, Issue 593, 13 August 1913, Page 2

CORRESPONDENCE.

Letters for publication, and articles for insertion, must be accompanied (not necessarily for publication), by the name of the writer, and, provided they arc not offensive in any way, will be published as space permits. The Editor does tot identify himself with the opinions expressed : by'correspondents, and accepts 110 responsibility ' lor them. |

The Editor. Sir, —Kindly allow me a little space in your valuable paper to point out to the the shareholders of this company what 1 consider a grievance, or a wrong method of electing directors. I attended the annual meeting on Thursday last and listened with pleasure to the chairman's address. He congratulated the shareholders on the privilege they had in electing their own directors, pointing out that this was the only way to ensure that they had a square deal. Now I want to show that the shareholders assembled in the Municipal Hall last Thursday had very little say in the election of the directors. Mr Boddie elected them himself. In this way Mr Boddie controlled :J4 votes. That means that he can give .'i4 votes to each individual he wishes to 3ee on the

directorate. You wiM easily see that each man Mr Boddie votes for must be elected, therefore I say that ho elected the present directors. 1 am not objecting to any single individual elected, but I say the system is entirely wrong. The largest shareholder should not have more than four votes. What would he the position in. say, a County Council election, if a man with property valued at £IO,OOO had "id votes and all other voters had only from one to three votes. I should consider the man with f>o votes well worth canvassing. Now, I don't know if the shareholders are aware that Messrs Green and Colebrook, Ltd., are the principal guarantors to the bank for this company. Kit had not been for G, and C. there would not have been any such industry in Te Kuiti to-day. Yet Mr Darro*' is easily beaten for a seat on the directorate. Now, sir, in conclusion I must admit that I am a new chum as far as dairy companies are concerned. I ara not aware whether the same system of election is adopted by other co-operative companies. But in my opinion the system is bad—l am, etc.,

A. SCHOLES Hangatiki, August 4th, 1913.