With further reference to your letter of the 18th inst. my Board desire me to express their astonishment at your claiming fees in the face of the statement of Sir Julius Vogel at the meeting of 1883, when, with the Directors' concurrence, he stated that no fees were being drawn while the Company was paying no dividend. Further, in your own circular to the Shareholders, and in the circular of Messrs. Spensley and Carnegy, both expressly state that you had voluntarily relinquished your fees for the year 1883.

As to your special remuneration as Acting Chairman during the absence of Sir Julius Vogel, it can be proved that the resolution voting you £1,000 per annum was never passed at a Board Meeting, but was irregularly added to the minutes of a meeting which had been held previously. It is also understood that you as Chairman of the Company instructed the Auditors to place in the Balance Sheet the figures page 25 £104 3s 4d as your special remuneration up to the 31st March, implying that that was your total claim for "special remuneration " up to that date.

I am further instructed to remind you that the Report and Balance Sheet have not yet been passed; but even if they had the Board hardly think that under the circumstances, as to the passing of the resolution, that you are entitled to claim this remuneration.

I would call your attention to the fact that the books of this Company show a sum of £141 5s 6d to your debit and for which amount a cheque will oblige.