A Mining Transaction. TO THE EDITOR
Siq,— Having unfortunately become possessed of a few shares in the William Tell Gold Mining Company, which failed to crush up to expectations, as most of them do, I instructed a broker to sell my little lot at best obtainable. On being informed that there were absolutely no bnyers, I instructed my broker, rather than pay calls, to allow the company to sell my shares and deduot calls due. This they did, but to my surprise deducted from the gross amount realised (only £19) the sum of £7 17s 6d for auition tees and advertising, the only explanation of these extraordinary charges being a few words from the manager of the company to the effect that as the charges had been great the shareholder would get but little return. This is only a trivial matter, but if it is a fair Bample of mining "management," that profession should be highly profitable. Legal proceedings in this cases are useless, and this little affair has only added one more to the army of New Zeilanders who vow, "they will never touch mining again," thereby checking the muoh talked of and muoh needed development of the mining industry in this colony. — I am, &o.| Sydney W. Philips. Wain's Hotel, July 10.
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Bibliographic details
Otago Witness, Issue 1901, 17 July 1890, Page 14
Word Count
214A Mining Transaction. TO THE EDITOR Otago Witness, Issue 1901, 17 July 1890, Page 14
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