Meeting of the Eureka Shareholders.

Evening Post, Volume XXVI, Issue 111, 7 November 1883, Page 2

Meeting of the Eureka Shareholders.

A apeoial meeting of the shareholders of the Eureka, Gold Mining Company was held at tho Occidental Hotel last evening, for the purpose of taking into consideration the position of affairs. Mr. L. L. Harris oconpiod the chair, and opened the meeting by explaining that the directors had oalled tho shareholders together to consider the position of affairs, becauso it seemed from tho tone of the dißonssion which took place at the meeting of Terawhiti directors some weeks ago, that it was desirable some of the mines shonld be wound np. The d ireotors of the Eureka had contemplated suspending operations in the mine until after an expression of opinion had beon obtained from tho shareholders, bnt at the advice of some of the larger shareholders, who pointed out that it was sot their intention to allow the company to be wound up, it hod been deoided to continue work. The directors had every confidence in the mine, and were satisfied that it would become a valuable property. Ab the majority of those prosent were aware, tho capital of the company was floated in June la?t, since which time four calls of one half -penny each had been made, bringing in £200. Tho present liabilities amounted to .£96 9s lid, and the assets, consisting of calls unpaid, cash in hand, &0., to .£44 14s. Tho affairs of the company were in a satisfactory condition. The report of Mr. Christopher Mace, the mine manager, stated that he had prospeotod various leaders on the ground, and found a little gold in them all. Aocording to instructions, only one man in addition to himself was employed in tho olaim. Driving for the winze sunk by his predecessor had been commenced, but he hod not yet reached the solid ground. He, howevor, expeotod to interseot the leader in a few days. In his opinion about 55 feet would have to be driven before the winze was reached. Mr. T. J. Ladd said that he had seen the Bank Manager rolativo to the finances of the companies, and had boon informed that no ohequos belonging to any mining company would bo paid unless tho drawer possessed funds. The manager, howover, was opon to reason and would no doubt modify this stipulation. Replying to a question tho Legal Manager said the reason why tho Eureka was not in such a satisfactory financial position as tho Enterprise and other companies was beoanse the calls had not been so large. Mr. Charles Mace remarked that the prospects of tho mine were sufficient to warrant him in paying calls for another year on the 1150 shares which he held. Mr. H. Mace moved—" That the directors be authorised to continue operations at the mine." The resolution was seconded by Mr. Boss. Mr. J. R. Gibbons asked whether it was not possible to take out a trial crushing. The Mine Manager replied that that all depended upon the size of tho lode he expeoted to intersect shortly. In reply to Mr. Moeller, Mr. Christopher Mace said that the leader in the winze was about 15 inches thick, and show.od gold. Tho resolution was agreed to without dissent. Somo discussion took place relative to the appointment ef an overseer for the whole of the mines at Terawhiti, but no resolution on the subject was moved. At the suggestion of a shareholder, the Chairman promised that as soon as tho indications warranted it, a trial orushing would be taken ont. This concluded tho business.