THE MYSTERY SOLVED.

Otago Daily Times, Issue 10289, 21 February 1895, Page 3

THE MYSTERY SOLVED.

TO THE EDITOB. Sir,—The ponderous wit of your correspondent " K. N. Peppa," in your issue of the oth inst., shows that he is not in any sense a " true man of feeling." Pretending to elucidate the so-called mystery of the Colonial Treasurer's visit to England, your correspondent ne&d not have resorted to the old and wellknown practice of drawing a red herring across the scent. A "man of feeling" would never have suggested the "tipping of confidential servaats," because it leaves an impression that I sucaisdone. "K.N.Peppa"shouldhavesenthis private detective to Southland, and instructed him to go to the office of the registrar of joint stock companies, pay Is, and make a search of the registry and the documents filed therein in respect of a newly-fledged joint stock company registered on the 31st January last {mark the date), and the articles of association dated 25th January last, and named "The Southern Investment Company (Limited)," nominal ■capital £50,000, in 10,000 shares of £5 eaoh. The promoters, whose names appear on the memorandum of association, are J. G. Ward (Invercargill), John Fisher (manager J. G. Ward Farmers' Association), R- A. Anderson (secretary J. G. Ward Farmers' Association), F. T. Boys (manager Ocean Beach Freezing Works), J. L. M'G. Watson (solicitor), C. Bradshaw (hotelkeeper, Bluff), G. W. Waddel (Bluff)., The most of the above names appear on the memorandum of association of other companies of Mr Ward's group, and reappear to do duty again. The objects of this newly-created company are wonderfully wide and comprehensive, and the following are expressly set down in the articles:—

1. To borrow money by issue or sale of any shares, bonds, mortgages, or debentures, and to invest the money so raised in the purchase of, or otherwise to acquire, any of the investments following: — Bay freehold or leasehold land, stock, wool, grain, cattle, shares, securities, merchandise, and other proparty in the colony of New Zealand or elsewhere, including any stocks, bonds, debentures, shares, scrip, or securities issued or having any guarantee by the Government of New Zealand, or any stocks, bonds, debentures, shares, scrip, or securities issued and having any guarantee by any corporation, trust, or company constituted or carrying on business in the said colony. 2. To develop and tarn to account any land acquired by or in which the company is interested ; in particular, by laying out for building purposes, comtructing, altering, and palling dowa, decorating, maintaining, fitting up, and improving buildings and conveniences, and by paving, planting, draining, fencing, cultivating, letting on building lease or building agreement, and by advancing money, &c., and entering into contracts and engagements of all kinds with builders, tenants, and others.

3. To t&ke or otherwise acquire and hold shares in any other company having objects altogether or in part similar to those of this company, or carry on any business capable of being conducted so as directly or indirectly to benefit this company. 4-. To amalgamate with other companies.

5. To carry on all or auy o£ the businesses usually carried on by building societies, finance, investment, or loan agencies, or land companies, money - lenders, coramiesian agents, auctioneers, or estate agents, merchants, farmers, in all their branches.

The articles of this company present some very striking features. The multifarious objects of the company's scope and its intended ramifications indicate that it is to be worked as the pivot of other companies—viz., " to acquire and hold shares in any other company," &c, &o. I have no doubt but that the Colonial Treasurer, having goae to England on State affairs, will have this big order in his left-hand pocket to float the sharea of this omnigenous company, which is destined to swallow up all the " lean kine," on the London market. All that this new company requires to make it complete is the State guarantee, which may follow in oonrse of time. It is very diffiealt to anticipate the benefits to Southland, the potentialities of this embryo company, and Mr Ward's mission to England. Great and magical exploits cannot be developed or made plain to the obscure taxpayer, but time and circumstances will cast a ray of light on them, perhaps, when too late.

A touch of the harlequin wand may convert the scrip of the " Southern Investment Company (Limited)" into gold, and then—"all's well."—l am, &c. s

February 19,

SOCTHIAKDEE,