THE NEW ZEALAND WOODWARE FACTORY COMPANY.

Star (Christchurch), Issue 4505, 2 October 1882, Page 3

THE NEW ZEALAND WOODWARE FACTORY COMPANY.

[By Tei-egbani.] [feom ofb own cohije6pondbnt.] AFOKLAND. Sept. 30. Tbo Herald this morning publijhos again extracts from the report of Messrs 0-uthrin and Larnach's meeting, and comments ac follows:— "Wo published on Thursday a short extract from the report of tho meotinj» held on August 22 at Duuodin to wind up the above company. Wo Lava already referred to this matter by quotationn from tha bftUnco-shoet, issued under nutbority of Mooara Guthrio tnd Larnach to show tha?; Bbareliolders liavo boen vory badly treatpd iv this concern, and, although Mr Larnach ban entered into an elaborate defence of himself wo do not think ho -nil cot vineo people that ho is blameless. Tho argument that his bankerfl wore unkind doen not hold water, beemiso they wrro nuroly usitg other people's money entrusted to f.hoir carp, and coult not go on for ever allowing Out) me and I.urnach f,o lean upon them. Wr Liirnsich'o e.r p'irte. defence cf hiraielf is singularly reticent on tho point which mainly intercgtsshiroholderp, namolj, how much of their money they ft'e likaly to (»ct buck. If, as rumour hath it, tbcro will bo nothing, Hfiarebolfiers will be further curious \n have, if, cipliinod liow, on Jan. 31 lt\st, Mr Larnach, us a Dirrc'or, camo to ijnne a balunco elioct showing £184,000 to the f;ood. Thero is no tu'k of th^ liquidators sacrificing pr.ipcrtv. T!io Bunk did ro« otop theOompany inls77, when times \vc\o b:.d,and when the sbareholdnra mi^ht, huvo ci>r.t?i:dccJ that it would bo uufair to 6toj) thorn. Tinn'o are not ba'i now, auti su-e'y tho £18.i.0C0 will not ."lisappoar in rp-'li'atiou. Sh^roholderd cannot forget, that Mr Lai-nac'i lihr beo r ' a Director for two yurs past, nnd t.hit by li'fi own lidmiacion he wh,r ransulted by Mr Qut.hri-) on al! itnport.inf points. It in too muoh to expect tiiorelmldfrs to bo BUi(>(i"4 wi h tlitt p!ra of tho IJinkN u!lf,7ed Fuddm; chauj!'.] ut' Uont «■< a )'t"D3on for t ho riir;ip-pear^rc-o of (ho JCI.V4.COO. If it )n» di<*uppciirfi in v liltlii six nrmthp, thoy im'virabl v ccndii'.io that, if thrir rntiro *npi':i'! is g'ino vavr, not much of if. survived n» t-h" kst bulanco. nor nf- tho balance befoiv that ; Hnd I hi-y will justifiably think tlmt, had t.h---balaTK-e-el'.o^te taken tlu< thurehold<:rs n. lilt.]« raorc into the confidence of tho Divfcloiv, (■> put if. niiirily, tho phirnholdrrs t'loniselv--woultl Jiave nnticipitrd the aolir>n of ( !i Eank, whilw vet boric frae'uin at their nu>- - v reimvincd. To rpfjrimini/e upon tic; B-wt may l>o v eah'.'t-'iioliyn to Mr Jj'u',mi«li ; i' id 1 very poor oat isfuc! ion for Bh;ir-.h"l