COOLGARDIE SYNDICATE.

Auckland Star, Volume XXVI, Issue 189, 9 August 1895, Page 4

COOLGARDIE SYNDICATE.

A meeting of shareholders in the Coolgardie Prospecting Syndicate was held this afternoon at the Imperial Hotel. Mr J. G. Firth presided, and a large number of shareholders were also present.

The Chairman explained the arrangemenb entered into by Messrs Goodall and Firth with Dr. Symonds re the purchase of the mine for £8,300. He said, tiaat .i. b 4 ;. j ~

.~.,j „ ... _. v , jl, .ij-d the sale so far had nob been completed. Messrs Goodall and Firth had written stating that ab Dr. Syrnond's request, the Bhaft had been sank iower, and thac the mine bad still further improved. If Dr. Symonds did not carry out his arrangement and decided to forfeit his deposit, there were several others in Coolgardie who were anxious to negotiate for the purchase of the mine, when the mine was sold the shaft was down 40 feet. Berdan tests of some stone taken out at this depth went a little over 9oz to the ton. The offer then made by D. Symonda was for £8,300, £300 of which was bo be put down ab once, and the remainder in thres months, whick expired on the 3rd of August. However, a good many cummunciationa had been made with Dr. Symonds since, bub owing^ it appeared, to his being Mr Firth then read the following telegram, dated the 6th of August:, from the prospectors. " Time extended, Symonda 6 weeka, he pay labour, your cable too late, we require £100 at once. Please cable, cannot return to mine without. Mine looking well." Mr_ Firth said that the Syndicate's cable instructing them to negotiate with the other parties if Dr. Symonds failed to complete, had evidontly arrived too late. With regard to the £100 asked for, the Committee recommended that new shares of £1 each be issued, every ten shares of theso to rank an one original share, thus making 110 instead of 1,000. Thexe, which must bo taken up in a week, would realise the £100 required.

Tho meeting was proceeding as we went to pres?.