and engineering journal . espondence which we have been privileged toinspect in the matter, but we would like to supplementour correspondents queries by asking the Board(a) if it is true that the farm Waterval has been sold for£14,000; (b) how much money the directors of this com-pany have drawn during the past 23 years?; (c) have allfees been drawn from capital account? The case of the Rogerston Collieries is, we fear, not asolitary example of this sort of thing in South Wehave on various occasions pointed out that there are severalmoribund South African mining and land com
and engineering journal . espondence which we have been privileged toinspect in the matter, but we would like to supplementour correspondents queries by asking the Board(a) if it is true that the farm Waterval has been sold for£14,000; (b) how much money the directors of this com-pany have drawn during the past 23 years?; (c) have allfees been drawn from capital account? The case of the Rogerston Collieries is, we fear, not asolitary example of this sort of thing in South Wehave on various occasions pointed out that there are severalmoribund South African mining and land companies whichshould be liquidated in the interests of ordinary share-holders. In this connection the following letter which werecently received from a reader of the Journal appears tobe worthy of notice. Dear Sir,—I notice that there are a great many goldmining and land companies which are now moribund andthe shares of which are seldom quoted on the Stock Ex- SULZER HIGH-LIFT CENTRIFUGAL PUMPS. For Mine Drainage, Waterworks, Pumping Set suitable for lift of 2,500 ft. LARGE LOCAL STOCKS INMEDIUM AND LOW-LIFT PUMPS. For particular* apply to: RICE, WILSON & HERD, 86,87,88,96, Standard Bank Chambers, Commissioner St. Box S30 Telephones 2290 & 2300. JOHANNESBURG. Also South African Agents forCALLENDERS CABLE & CONSTRUCTION CO., THOMSON-HOUSTON CO., LTD., etc. etc. change. 1 happen to he a shareholder in some oi : companii j, The directors have from time to time infonii- ,i- tolders) that the companies have dosed down for wanl of sufficient capital fco carrj on operations. i in i ii - - we are informed that the difficulty of copingwith the water trouble is the cause of mining •ceasing. We receive year in and year out the reports ofthe directors and tie- usual speeches made bj the variouschairmen; in the meantime the cash in hand is graduallydwindling away and being spenl on directors fees and otherexpenses, and I suppose when all the funds have been
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Keywords: ., bo, bookcentury1800, bookdecade1890, booksubjectmineralindustries
