WCP3020

[1]

Union Club.

S. W.

12 Feb[ruar]y 1867

Sir

Your letter of the 9^th has only just reached me.¹

I am very familiar with all the evils of the incumbency of Board of Directors that you mention.

They all have their [2] origin, in my belief, in the advantage that the system of proxy voting gives to the Directors over the Shareholders.

But the Shareholders as a class are so timid & supine that they will give us effective support to any measure that [3] would restrict or compensate that machinery of proxy — & if you hold the opinion on that subject you are good enough to explain to me — the best thing you can do for your own interest is to induce other shareholders to take your part in the subject[.]

I am sir | Your obedient servant | Charles Griffith [signature]

Alfred Wallace Esq

[4]^{2 3}