ROSS AND MIKONUI WATER RACE COMPANY.

West Coast Times, Issue 1326, 22 December 1869, Page 2

ROSS AND MIKONUI WATER RACE COMPANY.

To the Editor of the West Coast Times and

Observe)'.

Sir — tn your issue of this morning, a letter appears from a person who signs himself " A Director in the above Company ;" and one has but to read the letter to form a proper opinion of the merits of its author.

He begins by saying that he is at a loss to know how it is that "Victim" should be so fearfully abusive at the Manager and Directors (these are the words) in above Company. He does not refute any of my former statements. He* says, "As soon as, the Directors were elected, they ordered Mr Tribe to purclnse a set of books, which were got with as little delay as possible," viz., seven months after ; also, " That the Directors do not vote themselves 5s each, as the Deed of Association, provides for it." He !very candidly owns they receive it. Again, he states, " That up to the date of the meeting of the 4th instant, the shares registered had only been reduced by five." I would ask him in whose hands are the thirty shares thrown up by Messrs Nyulasy and Archer (Directors) at present, or are they not part ot the fifty-four shares with which the Manager voted at the last meeting. From the concluding remarks of Director, he would appear to question my having an interest in the prosperity of Ross. I feel sure that I could prove beyond a doubt that I have more real stake in that town than (with one or two exceptions) the whole of the Direc'ors put together, and on this account a:n anxious to see any legitimate mining speculation, requiring a large amount of capital and public support to develop it, taken in hand, and carried out by men whom the shareholders will have the utmost faith in, and I am sure plenty such men are to be found in Ross. But I say most decidedly that the present Directors of Ross and Mikonui Water Race Company, as a bod}', have not the confidence of either the local or outside public. Again apologising for trespassing on yoiir valuable space, I remain, yours &c, VICTIM. Hokitika, December 20.