THE WAITEKAURI EXTENDED.

Auckland Star, Volume XXXII, Issue 21, 25 January 1901, Page 3

THE WAITEKAURI EXTENDED.

An extraordinary general meeting of the Waitekauri Extended Goldmining Company was held in Tx>ndon last Monday for the purpose of passing resolutions for the purpose of -winding up the company and reconstructing; it under the title of 'The Waitekauri Extended (Limited)," or some other similar title approved by the directors, Mr G. Hardie, who presided, said that at the ]ast annual meeting- the directors clearly foreshadowed to the shareholders that the necessity. had arisen for the raising of fresh capital, and he also stated that before taking action the board intended to consult the largest shareholders as to the best course to pursue. They accordingly sent a circular to all proprietors holding 1000 shares and over, and a melting was held at whioh a committee was appointed to confer with the board as to the best methods of raising the new capital which was required. The board had a number of meetings with the committee, and the result of those meetings was embodied in the circular. The proposal of the board was to reconstruct the company, on a basis of calling up 3/ per share. That call would produce a sum of £50,000, and out of that it was proposed in the first place to-pay off the priority shares, the whole of which,1 were taken up by the shareholders, and that would amount to just over £~1.0,000. • The liabilities of the company were foreshadowed at something" Eke £5000, but he did not think the total would amount to £4000.* The board proposed to guarantee the^ entire issue at a rate of 3d per Share* for though they did not anticipate that the shareholders would not take up the new shares, and as far as he knew: no shareholder had signified his intention of riot ■ taking- up his proportion, they thought it wiser to have the issue guaranteed. The board would then have £30,000 to carry,on *ne de" velopment of the property, and they looked for good results, as the. latest accounts from the property had beea of a most satisfactory character. The Chairman moved the first resolution, and an amendment was moved to appoint Mr F. Whinney as liquidator,, and lost. A poll was demanded and fixed by the Chairman to be held at the company's offices next Monday. The first and following resolutions were 'then put and agreed to.