NELSON MINING COMPANY.

Nelson Examiner and New Zealand Chronicle, Volume XI, Issue 555, 23 October 1852, Page 139

NELSON MINING COMPANY.

A meeting of the shareholders in this Company was held in tbe Court House, on Tuesday the 12th instant, " to receive the report of the Provisional Committee, and to transact other business." Mr. Stafford being called to the chair, the Secretary read tbe following Report :— Gentlemen— ln pursuance of the Resolution passed at the Meeting, held on the 10th of June last, your Committee have taken such proceedings as appeared to them to be necessary for carrying out tbe objects of the Company : and beg now to report the result of their proceedings.

A Prospectus stating the objects of the Company, and embodying the resolutions of the 10th of June, was prepared, and has for some time past been published in the Nelson Examiner.

It has also lately been published in the Wellington and Port Cooper papers. Share lists have been opened at the offices of the Secretary and Treasurer, and tbe number of shares subscribed for to this date is as follows. Original £5 shares, upon 144 of which deposits have been paid — 187. £1 shares transferred from the late Pakawau Coal [and Mining Association and converted into £5 shares, the deposits upon 290 of which have been received— 6l. Making a total number of shares actually subscribed for, of— 248. And a total amount of deposits received of £50. 10«.

Share lists have recently been opened at Wellington, and Port Cooper; Messrs. Hervey Johnston and Co., of Wellington, and Messrs. Cookson, Bowler, and Co., of Lyttleton, having been respectively appointed agents of the Company, but your Committee is not aware that any shares have yet been subscribed for at cither of those places. A communication has however been received from Messrs. Hervey, Johnston, and Co., stating that in Wellington, the feeling to take share* is i very general, but that persons are deterrtd from doing so at present, in consequence of the unsettledoess arising from so many people leaving Wellington for the Australian gold diggings. Several members of your Committee visited the Pakawau Coal district, in the early part of last month, and the result of their visit is embodied in a report presented to the Committee on the 21st ult.. and which has since appeared in the Nelson Examiner. FF««™u

Your Committee have communicated with bis Honor tbe Superintendant respecting the acquisition of a block of land, either oo lease or by purchase, and although they have a> yet received ao written reply to their comtnunication, they are assured that the Local Governmerit, will give them a lease of eighty acres of land, for the period of twenty-one years, at a royalty of one-fifteenth of the minerals actually raised : reserving also to tbe Company all necessary roads through the adjacent parts of the domense lands of the Crown for the ourposes of their works. v

Your Committee have not been informed of the probable upset price of the land in the event of the same being put up for auction. Your Committee have deemed it advisable t0 advertise for a manager competent to undertake the winning and working of the mines in order that if the shareholders should consider it desirable to proceed with the formation of the Company, no unavoidable delay in commencing the works should take place. The Report was unanimously adopted. After a desultory conversation upon the expediency of at once forming tbe Company, it was proposed :— "That a Special General Meeting of shareholders bo held on the nth of November next, at the Court House in Nelson, at seven o'clock in the evening, to consider whether, notwithstanding that the number of shares then subscribed for, should fall short of that fixed by the original prospectus, the Company should not at once be formed." The resolution was carried, and* the meeting separated.