RE THE NENTHORN CONSOLIDATED QUARTZ MIKING COMPANY (IN LIQUIDATION). TO THB EDITOn.

Otago Daily Times, Issue 9512, 22 August 1892, Page 4

RE THE NENTHORN CONSOLIDATED QUARTZ MIKING COMPANY (IN LIQUIDATION). TO THB EDITOn.

Sin, —I have read the letter in this morning's Times, signed " Henry Rose, Liquidator," in which he states that ho or his clerk "will he happy to give any reasonable " (the italics are mine)'' information to contributories," &c. This is a very generous offer on Mr Rose's part, but I mistake the present temper of some of the coutributories if they do not require every information and the fullest obtainable. The discrepancy between the amount of liability, according to the statement first submitted to the court, and the amount sought to be realised by the present call is so great that some clear public statement of how the difference arises should be given, as this sort of thing in connection with the liquidation of companies is becoming a national scandal. As Mr Rose quotes the Mining Companies, Act, and infers that he has no option, I would remind him of the first list of contributories he prepared, according to the act, in which the forfeited shareholders in the Victoria Company wore to bo saddled with the whole of the liability of the company, and the shareholders who had not forfeited were to go "scot free." But his Honor Mr Justice "Williams promptlj nullified the proposed arrangement. It is admitted " The Mining Companies Act 1886 " is very puzzling, and in some instances I believe contradictory, therefore liquidation should proceed on equitable lines.—l am, &c, Duncdiii, August 17. Suakekoldei;.