THE FLOTATION OF NEW COMPANIES.

Otago Witness, Issue 2170, 26 September 1895, Page 17

THE FLOTATION OF NEW COMPANIES.

(Fkom Oun Own Corhkspondknt.) X Auckland, September 19. At a gold miDing meeting, Colonel Burton, who presided, in referring to the number of new companies that were at the present time floated said he thought that good would result from them. It could not be expected that all would turn out well and theie would no doubt be many failures ; but even if only one out of 10 ventures turned out a success they Bhould bo satisfied. Taking them altogether, he considered this, large floating OX

new companies as being of the greatest importance, ensuring as it did that a good class of prospecting would bo done in the various districts. He considered it was their duty to assist in developing the resources of the country. If shareholders paid Inor.cy into the new companies, say from £500 to JEISOO, which was sufii-irnt in e«ch case to thoroughly prospect the mid, he thought thone yir«"*nt ■would agree with him that this general policy ju-tified tbo nHiHiiiHi'tiUuii of companies, lie would like to see the new companies scattered over as wide an area of ground ns po3eible. He felt that if they were successful in two or threo cases they would moie th.\u recoup themselves for any unprofitable iu vestments. Looking at it in this light, ho felt it wis a perfectly sound policy to float the new companies.