A MINING COMPANY SENSATION

Auckland Star, Volume XXXIII, Issue 45, 22 February 1902, Page 5

A MINING COMPANY SENSATION

(By Telegraph—Special to "Star.")

DUNEDIN, this day,

Over sixty shareholders, including several ladies, attended a meeting- of the Pileup Gold Dredging Company last evening. The proceedings were very animated. Mr. Colin MaeAndrew, chairman of directors, said at the outset that the directors were thoroughly in sympathy with the shareholders in desiring to bring justice upon anyone who had bean guilty of fraud, and it was generally recognised there had been some very crooked work in the carrying out of the company. He admitted that, as one who hau visited the ground on the Maniototo Plains, Otago, last November, he had been ••had" with the boring operations shown at the si face prospecting bore reports as. to the exceedingly rich nature of the reputed claim,'but further investigations showed hardly any colour was to be found on the ground. He moved that the company go into liquidation. Mr. Gordon, who had inspected the claim, expressed the opinion that it had been salted. He was satisfied, after further inspection, that fraud had been practised on him in the first boring. Five shareholders were appointed a committee to act with the directors in making- a full and searching inquiry into all the circumstances connected with the prospecting, boring and floating of the company, with power to take any measures they might consider necessary to find out if any fraudulent practise had been committed. The meeting adjourned for a month.