the Editor of the "Nowri-Cursa Dany News"
Sin—I should not reply to "Also a Shareholder" in the ordinary way as unsigned letters do not interest me. 1 do not wish any shareholder to Ahink that T/am being proposed as a that this is an_unus even if in principle brokers should hot be Directors, circumstances can rise which justify making an exception to the rule, Hrextane, Shanghai, June 1, Mr. Gubbay's View To the Editor of the "Nonri-Ciwa Dany News!
Sin—I have read the letter signed by "Also a Shareholder" in your fgsue of to-day's date. T think this gentleman does not quite appreciate the position when he objects to Mr. N. W, Hickling's candidature as a Director on the ground that he is a sharebroker and would thus be placed at an advantage, presumably, in his share dealings. Evidently the Directors of the Exploration Company think this is no objection, for they have ce-opted a Director who is ready a Director of the Trust Companies, As "Also a Shareholder" mi bbe aware, these Trust Companies ai dealers in shares for profit, and would also be placed at an advantage just as well as Mr. Hiekding.
Therefore, why does not "Also a Shareholder" protest against the cooption of this Director on the Board of the Exploration Company instead of limiting his remarks to Mr. Hickling?
As regards the Balance Sheet, does "Also a Shareholder" realize that the Exploration is now paying its second dividend after about ten years working, that the shareholders have suffered a loss of capital last year in the reconstruction (The Tis. shares were written down to Tls. 280) and that this year's dividend is only 21 dollar cents?
Text read from the printed page and cleaned; old type leaves the occasional error.