THE DIAMOND FIELDS.

Lyttelton Times, Volume LX, Issue 6998, 3 August 1883, Page 6

THE DIAMOND FIELDS.

Pjimokd Pnosracxuro Liobasks. yesterday, at noon, the Waste Lands Board loom was filled with applicants for prospecting licenses over land at the supposed Diamond Field*. The applet one pambroed 85, Before more than roar had been imposed of the Board adjourned for w hour. The four applicants referred to are William Thomas Granted. who received a license for 180 acres j Michael Phelan and Stephen Powell, who were licensed for 250 acres | and Moritz Bowron and party-whose application for 6*o acres was divided into two application# for 320 acres each, the Commissioners having b determined to limit the prospecting areas to SSOacre*. After the adjournment the following applications were granted i-Monte Bowron and party, 6*o acres applied for, divided into two applications for 880 each j William M'Williams, 240 acre* i James Lear, 840 acres i Frank JB. Hyman, I*o acres; John Webber, 260 acre# applied for, but as the ground covered 27 acres for which a lease was asked, the Board reduced the area oj v.w. amount, and granted the license lor 233 acres t William Martin, junr., 208 acres j James Brown, 240 acres ; Hubert Patten, 240 acre# ; Thomas Wishes applied for 640 ao ret, but the license wae reduced to 3IOj John Baldwin, 21 acres i James Henry dtufe, 240 acres t Henry Knight* 880 acre* ; John Hebdcn, 330 acres j Beogg and party, two licenses of 320 acre# each ; Edward Fox. junr., 83 acres ; Peter Hill, 240 acres; Ell Webber, 819 acres; Alfred Buckley, 250 acres ; George Mitchell, 250 acre#; Thomas Fryer Beale applied for 886 acre*, but license was granted for 880 acres j William Britt in (for himself and pat ty of miner# from the West Coast) applied for 620 acres, bat the license was reduced to 330 acres. Msbtisq o? Fiosbbb Compact?.

A meeting of shareholder# in tho Pioneer Diamond Company wa# held yeiterday afternoon at Mr Wickes' Mining Exchange, Cashel street. There woe an attendance of about forty, and Mr T. B. Omig, Chairman of Directors, presided. The Chairman opened the proceedings by rearing the advertisement, and asked if it was the wish of the meeting that the representatives of the Press should be admitted. Mr Fox strongly opposed any more mystery, and advocated the proceedings being open to the public and the world. If the Company was a success let it be a genuine one, and, if not, let its failare be an honest and straightforward one (Hear.) He moved —" That the Press be admitted.” The motion was duly seconded, and, an amendment having been negatived, was carried with only one dissentient.

The Chairman said the business for which the meeting had been called wa* that the shareholders should bear the telegrams that had been sent to him from England, the last of which the Directors had received on Tuesday eight. Immediately oa its receipt he had catted the meeting is order to give the shareholders the earliest possible information. It had been thought by the Directors that it was only right and courteous that before Information was given to the Trass and public, the shareholders should be called together to themselves bear thefresult of Mr Kelsey's test of the diamond*. The first telegram from that gentleman had arrived on about half-past tenor eleven at night. The reading of that telegram by the Directors was far from unanimous. He believed that no two of the Directors read it in the same way. The Dom’d of Directors had therefore deemed It advisable not to put it as an advertisement in the newspapers, where everyone might read it and perhaps put too favourable a construction on it, thus causing a ruth for shares. They thought it would bo better to telegraph to Mr Kelsey asking him for more definite information. 'lbis he (tfr Craig) thought explained the Directors' conduct in respect to the first telegram, which read as follows Cutting diamonds; value small. Wait letter.— ! Thomas Kansas.” In obedisnee to a resolution of the Directors be (Mr Craig) had telegraphed to Mr Kelsey os follows: "Most important you should telegraph immediately are stones diamonds definite. Use our code.” It was Decenary that this information should be kept more secret than the first telegram bad been, because even before he had received that telegram he had been told when going down the street what its contents were. The reply to that telegram of his had come on Tuesday night. He had called a meeting of Directors as soon as possible, and had read Mr Kelsey's second message, which was as follows:—"Article. Cabling result cutting Triday, and value.” The reading of this, according to the code agreed upon, was as follow*s—" The diamonds have been tested by a thoroughly competent authority, who declares a fair proportion genuine. Cabling the result of the cutting on Friday, end the value.” Be (the Chairman) thought they would agree that this was a very satisfactory cablegram, so far as the prospects of the Company were concerned. The result they could not yet foresee. They must wait till Friday, Saturday, or Monday, when he might get a telegram which might damp their bopea considerably; at all events, they would then know what the value of the diamonds was. The Directors had not yet sketched out a coarse for the future operations of the Company, but as soon as they received the expected telegram he would call the Directors together, and they would prepare a statement for the Association, showing to what extent tote Company’s operations are to be carried, end other matters of finance, before they placed the shares upon the market. It would at present be unwise to sketch out anything more. He bad nothing further to tell them i the news he bad conveyed to them woe, be trusted, very gratifying to them all

Mr Jaooßsen, senior, then, by reference to a map, explained to the meeting the prospects of the Association, and spoke in fervid terms of the probable income to be derived from the Hew Zealand diamond field. At the olose of Mr Jacobsen’s address, the Chairman said he wae sure that all would bp gratified at the glowing picture drawn by Mr Jacobsen. He hoped the time would not be far distent when the ge a tie man’s anticipations would be realised. Mr Knowsley asked that the minutes of the meeting held at the Terminus Hotel where the Directors wsre appointed, should be read. The Chairman said this was not the business of the meeting. Mr Knowsley tsked if anything was to be suppressed. The Chairman said the minutes had been read already. Several Directors repudiated the idea of any suppression. Mr Bowron moved— 1 ' That the meeting ad* jount till the Directors call another meeting." Mr. Knowsley seconded the motion at the request of a shareholder. The Chairman read the telegrams again. Mr Knowsley asked why the code had not been adhered to. The Chairman said that to make a code which would meet all the possible questions and answers that might arise, would be almost the work of a lifetime. Beater’s code bed been used for the purpose of saving words and therefore expense. They could, by Beater’s cod#, use words not loofndsd in their own code, which was only a short one, though a Mod deal of trouble had been taken in com* puiegit. The first part ae to the testing of the diamonds bad been scot by the word

*artiel*; H the promts to eaW# on Friday «u seat tof Bottler’* rod*. Qrh« resolution wae carried ucantmouiiy. A vole of thanks to the Chairman and Director# closed the meeting. Before the meeting separated three sheer# *#rq given for Mr Jacobsen.

M»sm*»o» *«* Koh 1-sooji Coki-awt. A meeting of the shareholders of the Koh{.&oor Diamond Company wa# held Immediately after the meeting of the •hatehridsrs of the Pioneer Company. Mr Craig occupied the obftir. The Chairman add the meeting had been oalied without notice, to receive the inform#lion which had b##n sent by Mr Krijey. two Com pastes (the Pioneer and the Koh-i----noor) war# not antagonistic, but the success of the one Company would bo the success of the other. (Hear.) Moat of Ihoi# prwent were member* of thy Pioneer Company, and had heard what had been eaid already. Mr Craig concluded by reading the telegram*. Mr Fox wa* interested in both Companies, and would auggeat that inaitnueh a# there had been an adjournment of the Pioneer meeting, the present meeting should be adjourned MU after the receipt of the reply from Mr MHSfowby thought that there should be a meeting to combine the two Companies. ( “«ri 'Dongall thought the shareholder# of the Pioneer Company, who were not #hareholders In the Koh i-noor, should be consulted before *ny proposition of inn kind w*§ entortaioed* The Chairman reminded the meeting that there was no business before them. The shareholders had simply besn called together to receive the news. The meeting then dosed.