WESTPORT COAL COMPANY.

Otago Daily Times, Issue 10619, 14 March 1896, Page 3

WESTPORT COAL COMPANY.

TO THB EDITOR.

Sir, —In hii letter of to-day Mr Henry North shows the cloven hoof. He states that the proxies are for the purpose of asking the chairman to call a special meeting. This is mere subterfuge, as proxies are not intended and ciunot be used for such a purpose. The proxies will be used at the special meeting in a way that may prove hurtful to the interests of the shareholders. What, however, I complain of as very unfair is that proxies should be collected ia black by a fow shareholders bafore the meeting has been called. The large interests involved in thi3 company show that the amount of £100 per annum for each director is much less in proportion than is paid by the otber company. I believe the Walton Park Company bag not paid a dividend since Mr North joined it as a director, although he evidently looks after the directars getting their fees. Most of the directors of the Wesfcport Company pay a visit annually, if not more frequently, to the mine to inspect the mine and works on the West Coset, and this mnst involve at least a fortnight or three weeks' time.

Shareholders would act wisely in refraining from giving any pcories, especially to Mr North and his fellow agitators. It seems to be rather an Irish way of doing business to get proxies first and then ask the directors to call a meeting.—l am, fas.,* March 11. Shareholder