OTAGO GOLD MINING COMPANY.

New Zealand Herald, Volume VIII, Issue 2423, 31 October 1871, Page 2

OTAGO GOLD MINING COMPANY.

The second annual meeting of the shareholders of the Otago Gold Mining Company was held yesterday afternoon at the Mechanics , Institute, —Mr. \Yva. Slorriu the cbair. The directors' and mini g manager's reports and balance-sheet were read. The follotving is a copy of the balance-sheet:—" Capital and liabilities.—To amount received per shares* holders on paid up scrip, 28,800; cash from calls, £2425 6s ffd; c»lls due, £94 13» 6.1; total, £31,320. Debts and liabilities, £40 2s; to balance, £2184 5s 10J.—Cr. to property and assets, £28,800; plant, horse* whim, &e., £160 16s ; debts owing on calls, £94 13s 6d ; cash in Bank of New Zealand, £100 5s 10d ; cash in hand, £20 0s 10d ; by balance debit, profit and loss account, September 30. 1870, £1304 13a ; expenses for year ending September, IS7I, £879 12s 10d; total, £31.360 2s. —Examined and found correct, G. Fbaseb, auditor " —The adoption of the directors' report and balance-sheet was moved by Mr. Burke, and seconded by Mr. Bent.—Mr. Leigh White made some remarks in reference to a false report of gold having been struck in the mire some time ago. Hβ would ask if the manager, Mr. E. Thomas, had sent such a report to Auckland, and if he had done eo, whether he had done so in good faith ? He thought thai some notice should have been taken of this matter ia the directors' report. —Tlie Chairman made some explanation. Hβ stated that a, ruse had no doubt been practised wheu these telegrams were sent.—Sir. Thomas admitted that he had sent the reports, but said that he hud done so on information given by oue of the workmen. Mr. Thomas had been discharged by the directors immediately on discovering there -was no truth in the rumour.—Mr. MeKinstry said there was no doubt that the specimens were " planted" in the mine. The Chairman said there was no doubt of it. The matter was thoroughly investigated by the directors, who found that Jlr. Thomas had been negligent, but not criminal.—Dr. Lee caid he would like to know who operated and sold shares on tiiis " golden telegram." Such nefarious transactions were detrimental to the entire goidfield.— A. shareholder, who was evidently somewhat obscure in his remarks, asked a number of irrelevant questions amid considerable opposition from the different shareholders.—Some one proposed that he should leave the room, but he did not seem to see it.—Some of the shareholders were of opinion that tho man who had reported that he found the specimens ought to have been prosecuted. One of the shareholders said he had lost £103 by the rush on tha shares.—The Chairman said he questioned whether the lave could have touched the man.—On the directors' report being put, the chairman said the "noes" had it, and it would therefore be for the meeting to draw up a report that could be adopted.—Dr. Lee asked if any of the directors had profited by the report of gold being etruck. —The Chairman said lie had not benefited a penny, but if he had been in town he would have sold. Three other directors said they bad ga:ned nothing by the " swindle."—The motion for the adoption of the leport was again put, and this time carried on the voices.—ln answer to a question, the Chairman said that the report that gold had been struck in the mine on Saturday was correct.—The election of directors for the ensuing year then took place. The whole of the retiring directors were re-elected, viz., Me?srs. P. Bropby, W. Payne, C. J. Stone, W. Morrin, and — Macnamara. Mr. Qeo. Fraser was appointed auditor for the ensuing year. —Some discussion took place upon the advisability of having a half-yearly meeting. It was resolved that in future the meeting should be half-yearly instead of yearly.—This was all the business, and tbe meeting separated.