ISLAND BLOCK EXTENDED GOLDMINING CO.

Tuapeka Times, Volume XXIV, Issue 1871, 17 February 1892, Page 3

ISLAND BLOCK EXTENDED GOLDMINING CO.

Our Millers Plat correspondent writea :— I notice that some dissatisfied shareholders iv the Island Block Extended Co. are ventilating their grievances through the columns of the " Witness," and seem bent on bringing about a change in the management. And the reason of this, the ground of complaint against the management: Well, simply i because the gold has not been turned out in bucketf uls, and that big weekly dividends are not declared. Men of this kind are a constant source of injury to a company and, without knowing it, are ever standing in their own light and in that of most other people who have the misfortune to have any bnsiness relations with them. They remind me, do some of these people, of the parents of a boy, who, without any regard to his mental condition, or to the amount of brain he possesses, insist tint he must perform wonders iv no time, take out big educational dividends, in facti'aud if he doesn't the teacher must be got rid of. He's no good; away with him. There are times, these unreasonable shareholders should know, when dividends are impossible, and if they only take the trouble to look all round them they will see that there are times when even those properties of which we hear a good deal are very silent in the way of dividends. Yet during those dull periods, regretted by none more than by the managers themselves, our ears are not saluted with outcries against the management. Those disconsolate shareholders who thus revenge themselves upon the manager forget that Mr Weir had a lot of dead ground to get through, and with a heritage of this kind it could not reasonably be expected that things could have been any bettor than they actually have been. But now ho has everything in fine working order, and in another week or so will be in a position to give a satisfactory test as to the value of the claim. He has a splendid face opened up, the plant is in fine working order, and there in a plentiful supply of water on hand, and a manager to supervise the working who in point of knowledge and experience has very few equals. It only needs a little time to prove the worth of the claim ; and if the gold is there, and in the quantities generally supposed, the shareholders will not have to wait long for a dividend. Than Mr David Weir I do not think it would be possible to get a man who could do more for the shareholders — who could work harder for the company or interest himself more zealously in their affairs. He is a thoroughly trustworthy, reliable, and experienced miner, and as he has a large interest in the company, it is to his advantage as well as to the advantage of the other shareholders, that the affairs of j the company should be prosperous and that the dividends should be freely circulating. Self-interest a3 well asfthis reputation as a mine manager urge him onward in this direction, and the .shareholders may, therefore, possess their souls in peace. Everything will come out right in the washing.