WAIHI SHARES.

Timaru Herald, Volume XCIV, Issue 14388, 2 January 1911, Page 6

WAIHI SHARES.

' ■ ■ '• «» -—r ' A SERIOUS DROP. Prase Aaaociiiion—By Tel.—Copyright. : LONDON, Dea. 30. : . Waihi shares are cpioted at 92s 6d ta-a&V; - '■-' Tie "Financial News" says that the Waihi gold mine has became a prey, to rumouf.Vlargely because the directors do not publish progress reports. A DENLAL. Per Press Association. AUCKLAND, Dec. 31. ; Mr Chas. Rhodes, local attorney for the Waihi Company, interviewed re. •Igaiding. the drop in Waihi shares and ;the cabled statement by tho " Financial- Times," tliat the Company is a prey to rumour largely becausa tho directors do' not publish progress reports, said there was no justification for the complaint of lack of informa.tion regarding development. work at the mine. The company published mora details concerning the operations •of the mine than any concern he Iknew.. Monthly reports giving full particulars of the work were handed out and quarterly reports issued to shareholders. He knew of no other concern that issued quarterly reports. Taking monthly reports and annual reports, which contained nothing more than there was in the former, an engineer could by spending a little time, work out a correct statement of assays, yields and everything else useful without going near the mine. Ho knew that this was done in London at the present time. The drop in the quotation cabled, he admitted, was staggering, but he could offer.no explanation as to the cause.