The West Coast Times. MONDAY, JUNE 19th, 1916. BOSS GOLDFIELDS, LTD.

West Coast Times, 19 June 1916, Page 2

The West Coast Times. MONDAY, JUNE 19th, 1916. BOSS GOLDFIELDS, LTD.

OmciM. information, was received in Hokitika last week to tho effect that tlie assets of the Boss GoMfields Reconstructed, limited (in liquidation) had been disposed of for £9,500. Local shareholders were soon made aeqainted of the fact and on Friday night they met and unanimously passed the following resolution: " This meeting of shareholders in the Ross Goldfields Reconstructed Limited (in liquidation) protests against the sale of the Company’s assets for £9500, and is of opinion that had fuller publication been given in regard to the disposal of the property, a larger sum Mould have been realised.

It is interesting to note that in connection with the sale of the Company’s asset is it was claimed by at least one of the parties interested in the sale that the pi'ice realised was £15,001). There appeared to be no secret about 'the matter, it is remarkable that shareholders arc now notified that their expectations of at least some return for capital invested are not to materialise There are several phases ol the transaction which are interesting shareholders at the present juncture and no doubt those who carried on tile negotiations and ultimately ell'ocb-d a sale will be glum ;.n rally opportunity of explaining the. whole position. It will be observed that tliere is a huge discrepancy between the two amounts mentioned, and, as one investor puts it, ‘'if the assets wore sold for £15,000 whv is it that the shareholders in the company did not receive Hie benefit?" However, we arc not prepared to say whether the assets of the Company have been tamed over at a profit m £5,500 b. fore the shareholders had been advise.i of the sale; but if such is the case, then all we can say is that the various properties of the Company, were in particularly strong demand, anti that the interests of -hareholdei s have been a secondary consideration. Wo have been imormod by one of the gentlemen clos; ly connected with trie various Ilium propositions that lie wan prepared to inane a hotter offer than | £9,501), but, strange to relate, he states that he was net given the opportunity to compete. Why were the negotiations kept as asccret? In view of the circumstances is is not surprising that their is. censidc- - -! able local uneasiness in regaid to the transaction, and, we consider the sooner a full statement is olaced before the shareholders the better it will bo for all concerned. We may have another opportunity to refer to the matter, and if it is necessary to take up the cudgels in the interests of those who invested in the concern, we shall do so fearlessly and to some purpose. We hope there will be no occasion for this course, and until authentic information reaches ns with regard to the rumour in reference to the larger amount at which the assets are reported to have been sold, we shall reserve our comment until the time is opportune to deal further with the question. In the meantime, let ns hope, for the sake of those innne- ! diately concerned in the sale of the properties, that the negotiations will bear the closest scrutiny, and remove \ the doubt that exists in the minds of local shareholders.