STANLEY.

Auckland Star, Volume XXVII, Issue 107, 8 May 1896, Page 5

STANLEY.

REPORTED VALUABLE FIND.

An extraordinary meeting of shareholders in the above Company waa held this afternoon in Mr D. Macdonnell's offices, ab which there was a large attendance. On the motion of the chairman, resolutions were passed authoriaing the directora to sell the property upon auch terms and conditions as they mighb deem fib. Colonel Burton said there was another matter of some consequence he wiahed to bring before the shareholders. No doubb they had noticed how chares had advanced during yeeterday. As the directors knew nothing they telegraphed yesterday to the manager, Mr White, to see if he knew the cause. Itappeared MrWhitebadlettonobher business, he being only supervisor of bbc property, and, as a matter of fact, know nothing aboub the matter. The directors had since received the following letter :— " Dear Sir,—A friend of mine who haa found gold iv tho Stanley ground ia willing to show you or any person you may appoint the place where bhe reef has been gob showing gold, for tho supervision of the mine, and 5.000 shares in the Company." Colonel Burton said he considered ib desirable to accepb these conditions, provided the find proved to be a good one. Aa to the supervision of the mine, Mr White, being a large shareholder, waß willing to give up his position if ib was required. The letter waa sent by a gentleman of repute. Ib might reassure the shareholder to say that the directora thought they had some solid ground for thinking this to be a genuine thing: Of courße, a competent man would be eenb up to see the reef and reporb before anything else was done. Meanwhile the directora wanted the power to deal as suggested with 5,000 of the reserve shares. He moved accordingly. Tbiß was seconded by Mr Tan_um aud agreed to. MARITANA. During the laat two days there has been a briak demand for ahares iv this Company. Tho cauae ia now apparenb. aa aba meeting of directora held yesterday an offer waa received to float bbc property on the English market in a company, with a capital of £150,000 in 150,000 shares at £1 each, local shareholders to receive a large proportion of paid up shares, and a considerable sum in cash. A working capital of at least £25,000 ia also to be provided. The question of "option" was considered by the directora, and ib waa agreed to refer the matter back to the negotiator for hia assent to a provision thab a certain sum of money be paid each month during the time of option until the sale ia completed. The Maritana mine consists of 100 acres, situated at Owharoa.

Messrs Samuel Cochrane and Sons sold thia morning 28,000 forfeited shares in the Chelsea G.M. Company, for a $d each.