LOOK OUT FOR THE WILDCAT!

NZ Truth, Issue 943, 22 December 1923, Page 6

LOOK OUT FOR THE WILDCAT!

Echoes of an old promise of fortunes from ironsand were heard reveberating through the rafters of tho Auckland Supreme Court last week. It was m the matter of settling- the list Of contributors to the "West Coast Ironsand Smelting Company" (m liquidation). There were 67 alleged contributors, and among these, sums of. £110 and £200 were said to be owing. The wife of one shareholder said her husband could not meet tho calls on account of unemployment, .another shareholder said he only took the shares on a promise of a job. This shareholder related how he had lost £1000 at Rotorua. and, had thereafter lived alongside the works, m expectation of the job. Whoever had. promised this man work, said Mr. Justice Stringer, had no authority to do so. The shareholder was liable, but if he had not the withal to pay, the company could not make him pay. "The works have no work to do," said his Honor drily. "It seems to be more or less of a wildcat, and I am afraid the cat will probably scratch you a little, r must leave you on the list, which means you are liable to pay if you have the means.'!. Replying to a question from the Judge as to whether the company ever entered into business at all, Mr. Rudd said that it had set up works nt Onehunga, but he did not think any work was done — m fact, he did not think a light was ever put to the blast furnace.