SAXON GOLDMINING COMPANY.

Auckland Star, Volume XXIII, Issue 119, 20 May 1892, Page 4

SAXON GOLDMINING COMPANY.

As extraordinary meeting of shareholders in tho above Company was hold this afternoon in the Chamber of Commerce, when Mr G. S. Kissling presided. He stated that tho object of the meebing was to receive the report of tho Committee appointed to consider tho future working tit tho mine This was to tho effect that they had offered Mr Dunlop £250 and 5,000 shares, fully paid-up, to amalgamate the Queen of Beauty ground with tho Saxon, which offer had been declined. Tlie Committeo had been prepared to recommend scheme .". as proposed by Mr Dunlop. As tho offer to amalgamate had nob been accepted, the Committeo was, however, of opinion tho Governmenb should bo approached to see if it would assist a scheme to erect a pump capable of pumping to the depth of 2,000 feet. With reforence to the purchase tho Committeo had no recommendation to make.

Tho Chairman said thab a requisition had been received from the shareholders, representing about 4,000 shares, but ib required ono - fifth of tho capital to do this. As- far as the directors wore concerned their opinion was that the mine should not be wound up. The upper levols were now being worked, and it was lolly to let the ground go after the Saxon had borne tho heat and burden of the day. He believed tho Directors had no intention of yielding to force the Company into a corner. Mr A. Porter explained that »Mr Dunlop -was willing to sell for £500, and 10,000 shares paid up to 2s, lOd. The report was adopted as a formal mabter.

The mooting was still proceeding when we went to press.