20 JUNE 1987, Page 22

Unfair shares

Sir: Mr D. G. Jones (Letters, 6 June) seems to have very strange ideas about the value of private placings to non-members. Suppose the financial advisers to a com- pany in which he held 100 shares were to write and ask him to give 10 or 20 of his shares to some Japanese businessmen (who just happened to be clients of theirs!). Would he really do so in the belief that it was in his own best interest? — for that is what his argument amounts to.

W. R. Merton

Kingsbrook House, Headley, Newbury, Berkshire