THE WAIHI MINE.

Marlborough Express, Volume XLV, Issue 62, 14 March 1911, Page 4

THE WAIHI MINE.

AN APPEAL TO THE SHARE-

HOLDERS

[press association.]

AUCKLAND, March 14. The local directors of the Waihi Compaq. Messrs S. T. George and Chas Rhodes, have issued a circular to the shareholders soliciting proxies in favor of the election of the present directors in London.

Referring to the Wellington committee's request for proxies in favor of Mr Tapham, who, it is stated, is not registered as a shareholder, the circular states that the confidence of the shareholders should be expressed individually and collectively in the present directorate. The local directors felt confident that the large body of shareholders who still have confidence in the mine would regret if at this juncture anything was done to make the position of the Board still more difficult, and to endanger the reelection of Mr Mitchinson, the present chairman, they urge, would be a step full of risk to the welfare of the company.

They express themselves convinced that thero is no foundation for the suggestion that the directors or executive made an unworthy use of their information. They assert personally that neither of them has benefited by any trafficking in Waihi shares, and neither has been concerned in any operations whatever in shares since the market began to fluctuate more tha-n a year ago. Motions are to be submitted to the annual meeting, requesting the directors to obtain a complete report by a first-class mining engineer not resident in New Zealand upon the whole position of the mine, particularly upon the methods of working the ore reserves and the management gener •ally; that all reports cabled or otherwise bo published immediately in NewZealand and London; that the question of leakage of information be investigated and all possible steps taken to prevent such leakage..