THE ROSS AND MIKONUI WATER RACE COMPANY.

West Coast Times, Volume 20, Issue 1324, 20 December 1869, Page 3

THE ROSS AND MIKONUI WATER RACE COMPANY.

To the Editor 0? the West <CoM times

and Observe}'.

, Sir — I am at a loss to know how it is that anonymous correspondent "Victim" should lie so fearfully abusive at the manager and Hirectors ifi the above cbmp'any. If it is not that he and a few other croakers failed in the attempt to have the company wound up at the late meeting held here, on the Ist instant. Yes ; they failed to add the present company to the long list of companies that have been started on the West Coast, and, through one difficulty and another, had to succumb to the forde of circumstances. And I hope that the present company, that have worked against a host of enemjes th'a.l would gioat over, its downfall, •will be a glorious siiccessj which will take time to thorough^ develope. If "Victim" had wrote the truth about directors, I would not .have troubled you, Mr . Editor, with any further correspondence on the subject ;. but when he stages thai the. f direqtors ,d(d pofc Jieep a complete set of books until a few ddys before the meeting, when it was stated, over and over again, that as soon as the permanent directors were elected, they, the first night of meeting, ordered Mr Tribe to purchase a complete set of books, which were, got with as little delay as possible, and entered up before the meeting. But the permanent directors had nothing at all to do with the errors bf tlie prdvMo'nal directors, which " Victim " would like io saddle v iOni 'On tham. , The directors do not vote themselves five shilling- a sitting, as the deed of associa- „ tion provides for .directors that : are in attendance within fifteen minutes after the time are entitled to that enormous emolument. Again, " Victim " is stating a positive untruth when he says that the directors allowed. the manager, to relieve any shareholder frpm hi^ shares, and from further liability, as up to the date of meeting -,the shares registered had only been reduced by five, by the instructions- of the directors; and if the manager choose to take or hold a large number of shares, he had as good a right to do so as any other individual, as long as he paid his calls without pressure being brought to bear upon him in the It. M. Court. . Jn conclusion, I wovild reihark that " Victim " in his closing remarks wishes the race. a success. ; If he- ia .so .anxious in the prosperity of Ross and the surrounding, district, he is taking a very peculiar way df showing his desire for the furtherance of its advancement. "Victim's" vituperations [of the manager can only be dictated by personal motives. I remain, Yours respectfully; A DIRECTOR, it. and M. W. Co., Ross; Dec. 16, 1869.