THE UNITED MORVEN DREDGING COMPANY.

Otago Witness, Issue 2467, 26 June 1901, Page 23

THE UNITED MORVEN DREDGING COMPANY.

TO THE EDITOR. Sir, — It has come to my knowledge that the above company has been approached with the object of amalgamating -v»:t]a another dredging company in its neighbourhood. Most likely shareholders in the United Morven will be asked their consent to the above transaction, which means that both companies, after weeding out doubtful clients, will find themselves short of capital, and will try to raise nffcney sufficient between them to put on a dredge. Some time ago the United Morven directors did what I and other shareholders thought a wise thing — namely, they sold some of the company's contracts, meaning to wait a while, and as I fail to see any alteration for the better between then and now, what does it mean ? No dredges so far on the upper reaches of the Kawarau have done anything to warrant the construction of more dredges. Moat likely such a step would spell more money wasted. 1 I have had time since I became a shareholder ' to gather the best information about that part of the Kawarau, and the result is very discouraging. I refrain at the present from imputing motives other than honest oa the part of j those who are at the head of affairs, but if amalgamation comes to be dealt with I would I strongly urge all ji-liareholders m the above company to make themselves at least acquainted with the situation of the claim and the previous history of that part of the river, as I am afraid a good many shareholders, like myself, when taking up shaies thought the claim to be situated in a different part of the river. — I am, . etc. A Shaeeholdeh.