PURU CONSOLIDATED.

Auckland Star, Volume XXVIII, Issue 131, 7 June 1897, Page 4

PURU CONSOLIDATED.

An extraordinary maeting of shareholders in the Puru Consolidated Goldmining Company was held this morning at the office of Mr G. C. W. Morris. Mr J. R. Gray presided) and there was a good attendance. The meeting was called to consider, and if thought fib, authorising the directora to deal with, reserve shares, and also to consider the advisability of erecting a battery. The Chairman stated that the proposal to erect a battery came from the shareholders and was at) once taken up by fcha directors, and fully considered, and inquiries were made aa to whether the company could erect a complete 10-atamp battery with the means at their disposal. They were informed that they could do if, with a margin to spare, and bad, therefore called the present meeting. The chairman went on to say that) the directors had several interviews wil;h Mr Dewar, the representative of the Obtis Ball Mill Company.of Melbourne, who stated than an Ottis Mill plant complete, in avery respect could be urected at a less cost than a ten-stamp battery, besides being more efficient. Messrs Prico Bros., of the Thames, and others, had also given estimates for the work. They had engaged Mr Mebcalf mining engineer and surveyor, to survey the ground, and his plans and esbimatea had bean received. The directora proposed if sanctioeed by the shareholders to offer the reserved shares to the shareholders, ■pro rata, ab 3a per share, Is on application, Is wibhin two months, and Is within four monHis. This would give £2,700, with which it waß proposed to erect the battery. "Work on the mine would be carried steadily on during the erection of the machinery. Considerable discussion followed on the question of selling tha reserve shares. Mr Dawson and others thought thab the reserve shares were too valuable to give away at thab low price. They considered that enough money could be raised by 3d calls. At length, on the motion of Mr Lennox, second by Mr Dawson, ib was unanimously resolved, " Thab the directors call a furbher meeting of 6haroholderß, for tho purpose of re-forming the Company into a limited liability company, in order to raise nuflicienS money to erect a battery, etc., without further calls, after the Compony is so constituted." WAIHI CONSOLS. Arrangements have beon made by the directora of the tho above Company (subject to approval by shareholders) to acquire the Golden Lur« epecial claim of 40 acres, situated to the aouthw cab tide of the Waihi Consols mine.