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BLUE SPUR COMPANY.

LAWRENCE, June 27.

A meeting of shareholders in the Blue Spur and Gabriels Gully Consolidated Gold Company was held at the Town Hall, Lawrence, yesterday afternoon for the purpose of receiving the report of the past year’s transactions. Mr J. C. Brown, managing director, occupied the chair, and there were thirteen shareholders present. In a lengthy speech the chairman stated the position of the company, which he held to be most satisfactory. During the year at least half of the company’s labor had been engaged in clearing away debris, and doing other work not directly remunerative. He complained that the London Board had provided the local directors with only L 750, instead of L 5,000 as was promised. The total amount of gold banked and on hand amounted to L 8,135, the total expenses to date to L 4.709. Taking into consideration, then, this small sum of L 750, it would be seen that L 4,000 had been taken out of the earnings of the mine. In other words, half an ounce of every ounce that had been taken from the mine had been profit. He mentioned that Sir R. Stout had sent in his resignation to the Board. He {Mr Brown) had determined to stand by the company until he had fully carried out his engagements. He moved that his statement and the abstract of account be received and approved, Mr M’lntosh seconded the motion.

Mr Brown put the motion, but no one supported it, neither was there any opposition raised to it. Mr Brown said he would therefore have to declare the motion carried unanimously.

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Permanent link to this item

https://paperspast.natlib.govt.nz/newspapers/ESD18890628.2.29

Bibliographic details

BLUE SPUR COMPANY., Issue 7945, 28 June 1889

Word Count
270

BLUE SPUR COMPANY. Issue 7945, 28 June 1889

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