KUAOTUNU.
THE WAITAIA MINE
SOLD IN EDINBURGH.
Tho manager of the Waitaia G.M. Com' pany, Mr W. 11. Churton, has received a cable from Mr W. Rew, of Edinburgh, stating thab bhe Company bo bake over this property had been floated. The terms are satiafacbory. The new company is to havo a capital of £100,003 in 100,000 shares ab £1 each : 30,000 fully paid up shares will bo allobbed bo bhe shareholders in bho present company, who will bhue receivo ono paid up share io the new comoany for overy bwo held in the original one.' Besides this, Waitaia shareholders receive £3,000 cash, or equal to ls per sharo dividend, as the old company^ has practically no liability, thore being a few shares in hand which will, of course, sell readily. Tho new company provide a capital of £15,000 to develop tho property. The Edinburgh purchasers are to be congratulated upon having acquired a really good property, aa several hauls of picked stone havo been obtained during tho time negotiations for the eale have been proceeding.
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Bibliographic details
Auckland Star, Volume XXVII, Issue 19, 23 January 1896, Page 6
Word Count
176KUAOTUNU. Auckland Star, Volume XXVII, Issue 19, 23 January 1896, Page 6
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