THE DAVIS'S BEND GOLD DREDGING COMPANY.

Otago Witness, Issue 2647, 7 December 1904, Page 27

THE DAVIS'S BEND GOLD DREDGING COMPANY.

TO THE EDITOR. glHj Will you all6w me to give utterance to «n appeal and warning to the shareholders in this company to prevent, if possible, a. disaster which seems to be not improbable? This conil>any was formed four years ago, and the shares put on the market- at a premium of 7s 6d, While some investors of my acquaintance paid \3 much as 13s premium. Besides paying the

[ premium on the first issue, I also bought in later on, when the company appeared to have a fair prospect before it, as it had two years ago, when the Cairn rnuir puithase was doing well. There is still capital enough uncalled to enable the company to go on, and there is no known reason why the Cairnmuir should not again produce good results next season if properly, managed, and the returns from it would soon accumulate sufficient to permit -a, trial to be made of the original claim. This, however, apparently does not suit some persons, and we are asked to allow the whole to ba sacrificed. Y/hen the shareholders who have waited so long and paid so much are chucked out and some syndicate or private speculator has got the lot for an old song, we 'may possibly hear of the dredge starting and paying well, as has happened in sp many other cases. And even if the financial needs were really pressing, why should both claims be given up ? The sale of one of the claims and dredge would put the company in sufficient funds to work the other. I hope my fellow-shareholders will consider this, and not allow all their property to he sacrificed. — I am, etc., Victim.