WCP3020

[1]

Union Club.

S. W.

12 Feby 1867

Sir

Your letter¹of the 9^th has only just reached me.

I am very familiar with all the evils of the irresponsibility of Boards 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 no 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 express to me — the best thing you can do for your own interest is to induce other shareholders to take some part in the subject[.]

I am Sir | your obedient servant | Charles Griffith² [signature]

Alfred Wallace Esq

[4]³