MEETINGS OF SHAREHOLDERS.

Daily Southern Cross, Volume XXVI, Issue 3968, 11 May 1870, Page 5

MEETINGS OF SHAREHOLDERS.

A meeting of shareholders of the Deep Lead Goldmining Company was held yesterday, A majority in number and value were present, and W. Weston, Esq., presided. A resolution was adopted to the effect that proposals be made to amalgamate with the Kuranui Goldmining Company, on an equitable basis, and that, failing that, the company be wound up and reformed under the Joint Stock Companies Act. Thames Crushing Company. — An adjourned extraordinary meeting of the shareholders in the Thames Crushing Company was held in the office of the company yesterday afternoon, when a large number of the shareholders were present. Mr. James Smart was called to the chair. The report of the committee appointed at a previous meeting to inquire into the position of the company, was read and adopted. The report showed that from the beginning of January to the end of April, 1870, the total earnings of the company's machine had been £1,180, which, compared with the working expenses, showed a loss to the company of £SO. But dining the past week the eai'nmgs had been greater — a sum of £35 had been realised ; and the committee were of opinion that about £36 might be reckoned as the weekly future earnings of the company clear of working expenses, and recommended that some measuies should be adopted so that the plant might be saved from being seized by the company's creditors. — Mr. Lascelles thought the report was anything but satisfactory. Hopes were placed upon the fact of j the machine having made a profit of £35 dm ing the past week, which was nothing to be proud of. At present he saw nothing before the shareholder? but to wind up the company.— The Chairman explaiued that there was now a, better supply of quarto coming forward ; and, if theie was plenty of quartz, there would be no fear but that pro- j fits would be derived from the working of the company's machine. — Mr.Maeready said, although the machine had 40 stampers, there were only 30 of them th" at could be used atone time, on account of a short supply of water. — Mr. Wells showed that the company had 246 unallotted shares, which placed it at a considerable disadvantage: were the shareholders to take up those shares he believed the finances of the company would come all rio-ht. - Mr. Lascelles moved, "That the directors be instructed to take the best legal advice as to the present prospects of the company, and, if no other course is found to be open, that they be authorised to take the necessary steps to wind up the company." — The motion was seconded. — Colonel Balneavis thought there was uo need to take such a step. If each shareholder would induce his friends to take up some of the unallotted shares the company would soon come all right. — Mr. Lascelles withdrew his motion. — Major Hamley in moving his resolution referred to an undercurrent which was at woik, having the securing of the company's machine for its object ; and moved, "That a general committee of five, three shareholders and two directors, be appointed to take the best legal advice as to the present position of the company, and, if no other course is found to be open, that they authorise the directors to take the necessary steps to wind up the company." — Seconded and carried unanimously. - Major Hamley also moved, " That the committee consist of, on the part of the shareholders, Colonel Balneavis, Captain Anderson, and Mr. S. Wells, and on the part of the directors of Messrs. Von Der Heyde and James Smart ; Mr. Wells to be convener." — Seconded and carried. — The Chairman said he would now refer to one remark made by Major Hamley, viz , that there was_ an undercurrent ai work having j for its object the purchase of the company's machine when the company would be wound up. He could say for himself and fellowdirectors that there was no such thing so far as they were concerned,— Major Hamley : I did not allude to the directors. 1 meant there was a general impression on the public mind that theie were parties at work having that object in view. — A vote of thanks to the chairman terminated the proceedings.