19 JUNE 1926, Page 16


[To the Editor of the SPECTATOR.] Sia,—I am not an " owner," I act for royalty owners and am brought in contact with many of the able, patient, and courageous men who manage the concerns of the large Colliery Companies in this the South Wales coalfield for the " owners," the shareholders.

I would ask by what title does your correspondent, Mr. C. H. Miller, or others—the numberless persons who are so lavish with suggestions, and who may not have a penny piece invested or risked in any single branch of the coal trade—insult a large body of their fellow-countrymen by declaring them—the " owners "—" stupid, unteachable and lacking in vision?' Possikly their stupidity, unteachableness and lack of vision was the reason why they risked, and have largely lost, their money in building up the magnificent Welsh coal trade.

I suppose it is unlikely that those who are so lavish with advice will be equally lavish with their money, but there is no manifest reason why your correspondent and others who feel the present " owners' " deficiencies should not, by buying up the shares, demonstrate their superior virtues to an admiring world, and restore prosperity to the coal trade by practising what they preach.—I am, Sir, &c., Laleston, Bridgend, Glamorgan. L. D. IsTicsoLL.