OUR DOUBLE-BARRELLED GUINEA PIGS.

Otago Daily Times, Issue 10599, 20 February 1896, Page 2

OUR DOUBLE-BARRELLED GUINEA PIGS.

TO THB EDITOR. Sra,— A good deal hos besn 6aid about thi Westport Coal Company's directors and thi surprise they sprung upon the shareholders at the last general meeting re their fees, but the shareholders are partly to blame for giving so much power. Ac a general meeting held some years ago a motion was carried giving the directors the power to sell, purchase, or, in fact, do as they pretty well liked with the company's property, and tbere was only one diseenting voica at that meeting—that of Mr G. Munro, who alone told tbe meeting what might be the outcome of granting them suoh power. And he got pretty well sat upon by the Hon. Mr Oliver, who told him that the shareholders had good, honourable men in the directors— men who would not do o dirty action. It waa then pointed out that the personnel of the directorate might hs changed. There are still some of the same men ou the board, but I think the majority of tbe shareholders will agree that Mr Oliver's remark could not now honestly be repeated.

Are the directors of this company jnstiSed in adding 50 per cent, to their remuneration when the shares of the company stand at such a low ebb in the market as they do at present ?' I for one say they are not, and tbo sooner steps are taken to break up this greedy directorate the better it will be for all concerned. —I am,

ANOTHEfi DISOtJSTED Shabehoi.dek» Dunedin, February 17.

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