MINING NEWS.

Press, Volume LXIII, Issue 12897, 31 August 1907, Page 12

MINING NEWS.

• THE TALISMAN COMPAOT.

(press association telegram.) AUCKLAND, August 26. Tha joint committee of Auckland and Wellington shareholders has received, through tho manager of the Talisman Company, a cable from London:— "Hoard proposes ono director resigning immediately. Alter making reasonable allowance, will appoint colonial representative in his placo, providing he must not bo a broker. Ono director retires at annual gonoral meeting. Directors' fe_s limited to £'2100. Directors approved canoel articles cf association &J and M and il. in reierence to shareholders' statiu, make no alteration without plebiscite, no amalgamation or purchase property without shareholders' approval. We are advised proposed arrangement with regard to proxies is Legally impossible. Instead Board proposes in future giving oolonial shkrehoiders two months' clear notioe by oable of all meetings shareholders, to allow oolonial shareholders to vote. Proxies can bo signed and witnessed before Justice or solicitor in New Zealand. If propositi is accepted, remaining English directors will retire by rotation before oolonial directors." The Auckiind shareholders are unanimous that these proposals should be accepted.

August 29. Tho agitation among colonial aharoholders iv tbe Talisman Consolidated in connection with their demands for representation on the London board, etc., reached finality to-day. On receipt of the offer from the director-) telcgTHphi.l yesterday communications wera entered into between the Auckland and WelBhareholders' committeos. Tho former wero in favour of accepting the Offer, which thoy declared to be a practical concession cf all demands made. Tno Wellington committee, however, sought further ooncesciionß, the principal one being the right to havo two representatives on the bonrd instead of one. This point was thrashed out in further tolegrapnio communications, and ultimately an agreement wa. reached by tho Wellington committee KiviiMf way. A telegram was rewived to-day from their chairman, Mr S. Weston, announcing that his committee hod decided to agTee to tho acceptance of tho board's offer. On receiving ihe Wellington message, the local coourfittee telegraphed to Mr H -Stansfield, manager of tno mine, to the effect that the colonial .nareho.dera accepted the offer of tho board. And requested him to cable Homo accordingly.

(PRESS ASSOCIATION TF.U-GRASI.) DUNEDIN, Augu _ 20. Stock Exchange «a!e_ :—>. cw Be .burgh Jubileo. lis; Talisman Con-dictated, 49» Gd. DREDGINO RETUHuVS. (PRi:S.S ASSOi'l'Tinv T' - t,K(JR\M._ DUNKDIN', Augu . 30. Miinnherika. Wloi Mnst-rrton _)os TH vt, Kur» Mr/. 10cl. t. MvHery Plat 4:)oz fdwl, K-put:i.i 290z lOdwt Charlton Creek 2107, Wnikai.t Ifioz lTdwt. Central Charlton looz 'Odwt, Mntau "02, llolytieux Kohinoor 6o_: Ttlwt.