The Inangahua Times, PUBLISHED TRI-WEEKLY. WEDNESDAY, SEPTEMBER 12,1883.

Inangahua Times, Volume VIII, Issue 1296, 12 September 1883, Page 2

The Inangahua Times, PUBLISHED TRI- WEEKLY. WEDNESDAY, SEPTEMBER 12, 1883.

The Dnnedin shareholders the Lankey's Creek Cement Corapjariy seem determined to make martyrs of themselves. They-, invested .their; capital in a mining undertaking which has so far not turned out exactly as they hoped :or expected, and they have forthwith held a series of meetings, with the object, it would seem, of convincing the public that they are about the mos,t ill-used set of people under the sup.. We have r^-published the reports of-two! of these remarkable meetings, and ouri readers will therefore be able to judge, how far the circumstances justify ' Jibe conclusion. We had, moreover, a double purpose to serve in giving the additional publicity here ; to the .grievances of the Dunedin shareholders. In the iirst place the very exceptional nature of their misfortune demauded it, and in the next place we did noV wish to follow an, example', wh^ch. has already sot in a matter of this .'.'■ kind. ■ : -.The ; United '"'Victory Company, • Lyell^ is managed" 5 ; *in Dunedin, and it will be ; recoHo(it^d',that wneVi ' the -result of th« ; fin^or^jibftite first crushing ; of ,that cp.mpany.) was made known public feeling ; here ran very angrily against the distant directory on account of■''the'epriflietiiig reports which they published relative to th.c ; yield,, and ob l V 6thei- ;- grounds.. On that occasion* the*.-' local rep^reseiitatiive' of one of ; the";Dnfl*Rdin joitrn^ils -forwarded ■ a co,nmuniektjou .giving expression/ as nearly," we,'d^re say; as ihr }i l&yr .$$ Hl>oi J .,w!oiil.djj*astify him in . djoing,. to ...the' . opin tort iof :Reeft6n « i ßhall-eh6ld ! et¥ I xi^Oh 1 : sftHpctfl{ Ti^' ] |o|n^c^i[6f^l|^^r, '\vaLS (Sarefuii^excluaad 'from' papor >tp -jy^chjijt jwaSv^tcaißa^noii sa tliß counter-blast! JrdmrnDnßfeain against the Reefton directory Qf the' Lankey's larity. The reason of the suppression of the oweviSpo-Bfr^mayi* J ho'weyer, bo stmn'iseKJ p'^AW^beM^h f6r' takfng' thfe* ot>*^osH;S v "" s bS^isb^*%^?f ""'/'.^V- : i^ei-fec'tly-ODvio^Sj liere,^heje^thp .truei circumstances of the case artvknowh. Now, what 1 awi . ; the tfeab facts' ! bf ■ th© case I Minihg^lier'e" 1 u^tb7*sll|^oi&ai!kiii of the LahKey's Creek^C^irjpaiiy. '^yag cph'fi.n ed exclus.iv'viy.to quartz ..reetiag.. , . ■ . TJva existence -.of i auFiferoua" cement ' in • the district was.'howewf, kubwn,"b:utit xe'. ; fidaine\T^&" a.'pronimetit 'tyimUQiji^k],-, firetdraw'abtention to the subject. .^The gentlemanin. l queßti6n ; 'Was interested in i cement minrittg' ! afc the Bine Spur, Otago, an dj' '6f cdiitsej; spofee with au-j ihbiity,' the "resulfc ' beiog that tl;e Lankey's Creek Company was formed, he being one of the-pro motors. Some excitement followed", and from. Dunedin, w&efee &ibsi> ■'' \rkk cbnterhing cem,en£ niining r , came the. greatest ;deI mand " "Bnaivs. ; this, i gajcejagf; the -stuff >"w*;ere' sent to: Dun, edin for trial 'and gave i > ani eminently i satisfectoriy) yield. .;' Later; oni'- at' the instigation 1 of "tne Dunedin irtVestorS; fth^;' distinct; ; y^^';'h^ yis^t /^JlJit^^ectiO^^/irqm ,-jan . ex--perti cement warier, frorn^ Blue Spur. This cement .gentleman Camfe and SaY, and conquered Y x ktLd i 'ihhti J re'tti'rn^cl to ; those .of..h).3\^po^'!9^Qpi^iQn;,w^9,-y'aQbody^ on. ibhis ' ; side- i'of, the Dividing;.. Eiin^e, ! so far as we are awarej'fever kiieAVi' by" 'was ablfr to lealrn."' Btit asitUOarth : idohtinued *to J ' revolve, ami! Duu't j .diii:^id ;not manifest any desire to.; get .out of the concern, the impression created : here , was. that. the> report was favorable, and the operations of the company- proceeded. This' is. the history ,of the undertaking, and the only exceptional .feature about it appears/to be the unfortunate one for all concerned* that it hasn't turned out aY well as expected. Dunedin, howeVer, isuot the only place in tlie universe where people feel the loss and disappointment of mishappened enterprise, but Dunedin has seemingly a way of its own of retaliating upon mischance, and we have a good illustration of it in the present case. The Duucdin shareholders have made themselves supremely ridiculous in the course they have taken. Their* proceedings have been childish in the extreme, but .their very childishness wpuld baYs been pardonable but for, their, wholly unwarranted attempt to be viciously hurtful. They may find some temporary consolation in abusing and slandering their directors, however wrong in, doing so, but they will find that this .kind of thing, will not pay their overdue calls or satisfy their creditors, aud > that in the end, however unpleasant it may be, they, as indeed all other shareholders in the company, will have to bow to the inexorable law of " needs must."