THE GREYMOUTH COAL-MINING. COMPANY.

Grey River Argus, Volume XIV, Issue 1788, 29 April 1874, Page 2

THE GREYMOUTH COAL-MINING. COMPANY.

[OTAGO GUARDIA.V, APRIL 17.J A meet ; ng of the Dunedin shareholders of the Greymouth Coal-mining Company was held at the Provincial Hotel on Saturday evening. Mr Davie occupied the chair. Mr GT. F. Reid explained that he had called the meeting at the request of a large number of the Dunedin shareholders who were anxious" to know Bomething' about the progress of the company. The total number of shares held in Dunedin was 3544. He had no information to communicate except what he had culled from a few paragraphs in the Greymonth papers. One of the objects of the. meeting would be to consider if it would be advisable, considering the number of shareholders here, to send some person to Greymouth to see what was going on, and to represent them at the half-yearly meeting lo be held at Greymouth on the 21st inst. He did not think the 'Dunedin shareholders had received that consideration from the directors which he thought they were entitled to. The chairman said that the capital of the company consisted of L 40,000, made up of 8000 shares of L 5 each, I'd per share to be paid on application, and 4s on allotment ; the balance to be paid in monthly calls not exceeding 5s per share. The total outlay according to the prospectus, before coal could be delivered at the coast, would be LI 5, 000. Considerable delay appeared to have taken place during the last six months. Mr Prosser said he did not think there was any necessity of Sending a person round to the coast. • He had full confidence in the working of the mine. He thought the best plan would be to telegraph to- the secretary for particulars concerning the, report and balance-sheet, and then the Dunedin shareholders could send the proxies round to some shareholder at Greymouth to represent them at the meeting on the 21st instant. This suggestion met with the approbation of the meeting, and Messrs Davie, Reid, and Ramsay were appointed a sub-com-mittee to receive proxies, aud forward them to Greymouth, and to obtain all the requisite information for the shareholders, and to call another meeting if. necessary. It was also resolved that the (company should be asked to make arrangements whereby the Dunedin shareholders could pay their calls into the bank in Dunedin. It was mentioned during the meeting that two shafts had been sunk, one 60ft, and the other 200 ft deep, and that the company had obtained the services of one of the most experienced miners in New South Wales.