WELCOME FIND (COROMANDEL).

Auckland Star, Volume XXVI, Issue 79, 2 April 1895, Page 2

WELCOME FIND (COROMANDEL).

A meeting of shareholders in the above licensed holding, at Coromandel, was held yesterday afternoon in Mr H. Gilfillan's office, when' there was "an unusually largo attendance.

Mr B. Kenb was voted bo the chair. He stated that somo time ago it was arranged that Mr Brett and himself should go down to Coromandel, see the ground, and report. Mr Brett went at once, and was well satisfied wibh the prospects. Ho hod himself eeon the ground since, and came away with an equally favourable impression. Tho result was the formation of a syndicate of twenty-five shares at £100 aach, all of which had boen taken .up quickly. The objecb of the present/ meeting was to decide upon future operations. Several members were of opinion thab ib would bo as woll to form the syndicate into a company ab once. He might mention thab bhe promoters did not get any cash, bub simply were allotted 10 shares. Personally he believed ib was one of bhe very best shows ever pub before people. Only lasb week the Hauraki mine, which adjoins bhis ground, took out £20,000 worth of gold. At tbe same time ib musb bo remembered tbab ib was a mining venture. Ib was estimated thab £2,500 would seb them fairly going, and provide plant for pumping and windiDg. Mr Brebb suggested thoy should decide when bbey were going to call up the whole money. Ib was useless bo talk aboub going on withoub cash in hand. Mr Hull said ib was generally understood that half the raoDey would be wanted down, aud bhe balance within three months. Mr Brebb Baid thab ib was important to havo tbo money paid up and work commenced ab onco. Mr VV. Gorrie moved, " Thab tbe Welcome Find licensed holding bo formed into a company, with a capital of £17,500, divided into 70,000 shares at 5s eacji, of which 20,000 shares be alloted to the promoters, paid up to la per share." Mr Johnston seconded bho motion. Mr Owen moved thab bhe Company be formed under bbc no-liability section of the Mining Acb. Thia was losb upon division by one vote. The company was then duly formed and bhe following gentlemen were appointed directors:—Moasrs It. Brett, W, Gorrie, B. Kenb, Major George, Colonel Burton, John Cornish, and Capbain Smibh. Mr O. B. VVaymoubh was appointed audibor and Mr H. Gilfillan legal manager. Ib was resolved nob bo have transfer fees, and tbab the qualification of a director should be 1,000 shares.