THE WAIHI MINE.

Manawatu Standard, Volume XLI, Issue 9404, 31 December 1910, Page 5

THE WAIHI MINE.

A PREY TO RUMOUR

(Bγ Electbio Telegbapr—Copybight.) (Per Pbess Association.) Received Dec. 31, 9J.G a.m.. LONDON, Dec. 30. ~' The Financial News says the Waihi gold mine has become a prey to rumour largely because the directors do not publish progress reports. • Received Dec. 31, 10.40 a.m.. , , ■-■'■■....- LONDON, Deo. 30. Waihi shares are quoted at 92& 6d to 955. '.'■ : ■■■'■■■■■■ '-.'■■

(Pbb Phess Association.) AUCKLAND, Dec. 31

Mr Charles Rhodes, local attorney to the Waihi - Company, interviewed regarding the drop in Waihi shares and cable statements -of. the -~. Financial Times to the effect that "the company is a prey to rumour largely because the directors did : not publish progress reports," said there was no justification for the complaint of lack of information as to the development of work at the mine. The company published more details concerning the operations at the mine than any concern lie knew. Monthly reports, giving full particulars of the work, were handed out, and quarterly reports were issued to shareholders.. He knew of no other concern thatissued quarterly reports. Taking the monthly reports and the annual reports, which- contradict nothing more than- was in. the former, the engineer could, by. spending a little time,, work out a -correct statement of the assays, the yields, and everything 'else useful, without going near the mine. He knew this was done in London, at the present time. The drop in ' the quotation cabled, he admitted, was staggering, but he could offer no explanation as to the cause.