AUDITORS, To the Editor of the "Nortu-Cuina Datty News."
Sir,—Your correspondent of today's date brings the question of company directors before the public, and while so little has been said thereon it is, unfortunately, all too true.
It may be said, however, that many of the directors are worthy of the confidence placed in them, buy the greatest disadvantage under which public companies in the East are situated is the lack of sufficiently capable business men to form a board of directors who are prepared as business men to attend to the business requirements of the company in a fearless, straightforward manner, entirely for the benefit of the company and its shareholders; ste. daes not exist in the East. As matters are, and as they long have been, the directors leave it {0 the general managers, managers or managing director, and they in turn leave it to the company's manager, superintendent, secretary or general factotum with consequences that have been all too disastrous in almost 90 per cent. of the public companies that' have ever been floated in the Far East.
With the public companies at home there is hardly a company of known standing which has not got a board of directors individually selected, not only as men of integrity and standing but as experienced business men acquainted with the actual business of the company to which they are elected on the board to attend to its affairs for the sole benefit of the company and its shareholders, A shipping man versed and experienced in ship-owning is elected to a shipping company's directorate; a trained, qualified and experienced engineer is elected to the directorate of a dock company; a qualified and experienced cotton manufacturer is elected to the directorate of a cotton mill; these are the aims of the chairman, board
Text read from the printed page and cleaned; old type leaves the occasional error.