MEETINGS OF SHAREHOLDERS.

Daily Southern Cross, Volume XXVI, Issue 4007, 25 June 1870, Page 3

MEETINGS OF SHAREHOLDERS.

A very iniportani} adjourned extraordinary meeting of shareholders of tlie Eureka Goldmining Company was held last evening in tlie Greyhound Hotel. There _was a large and influential attendance of shareholders ; and Thomas Ritchie, Esq., was called to the the chair. The chairman explained that f orsomo time tlie shareholder had felt that the company's property was not being managed as it ought to have been, aud that a committee of two had been appointed at the former meeting to visit the company's ground, and report upon its condition. _,Their.report wag read to the meeting, and in. it regret was expressed that on their visit the legal manager was absent, although ,word had been sent to him of their intended visit. In his absence two directors had shown them over the mine j and in the 100 feet lead they saw the leader which yielded 10oz. to the ton. They only found three individuals at work in the com. pany'a pay besides the working manager, excluding those employed on some contract work. , The report also regretted that the men employed were not engaged on the more productive parts of the mine. On the lowest level a capacious chamber was being con- , atructed, with a height of 9 feet, by 14 feet each way. A dtive of 20 feet from this chamber is expected to cut the celebrated Barry's reef. From the shaft in the Deep Lead mine, arid also froxri'the workings in the Teutonic, the working of the Eureka could be distinctly heard, and a long time could not olapse before Barry's reefwaa reached from several points. The company had a cash balance of £267 6s. lid. in the Bank of New Zealand, which with the unpaid calls, &c, made a total of £508 2s. 5d. ; ; and the whole liabilities contingent and actual were a little under £50. Therewas atotal shareholders'Jist of 320 ; and on visiting the company's ground they found a working manager at £4 per week, "two directors employed as workmen at £2 per week, and an ordinary miner at £1 16s. per week. f This state of matters was considered unsatisfactory, and a resolution was passed unanimously expressing dissatis, faction with the present management, and requesting the legal manager to resign. It was also -moved and curled unanimously •that a committee of five shareholders be appointed to look after tho interests of the company, viz,, Messrs Ritchie, Clarke, Aicken, Lord, and Williams. The chairman explained that within the last month or six 'weeks there had been three crushing, which produced gold to the value of £250 and £\]o. Were a more attcedSßfiil system df Working adopted, there waa no doubt that- tho'mme would soon attain the high- position ifc orice .occupied. "A. resolution was passed unanimously t condemnatory of the -employment ofcdirectora as cbmpanyV*servants, as such is ! inr contraventionifof/thei provisions' ot the 7 Joint Stock' Companies' Act,- ' It* wa** then Jalso agreed t that „three\additional mpnfe she employed- atUhe^mp'any's^prinefupori the f<rich:aea'derk ! alreailyVxposedr SAffcar % v6^ uof :thaaka toe thex r deputation who visa ted -jthe smine? and! toAthe- chairman,!- the p>ineeting i separated.; '*££ V^'^&H /^J'J'x.,' *;-/m :: Ait extraordinary^neeting^ of shareholders JnVthe, Success (^ldminin^' Company' is eon^ .. tvened\foriTuesdayineri§sat Grahamstownj _ - y^<^ofc=.one;shiUuigjsjer»scnp^as«be.en^ made in^ th^Goldea.Caft Goldnjinjug Couit