STANLEY G.M.C. (KARANGAHAKE).

New Zealand Herald, Volume XXXIII, Issue 10127, 9 May 1896, Page 5

STANLEY G.M.C. (KARANGAHAKE).

A meeting of shareholders in the Stanley U.M.C., Karangahake, was held yesterday at Mr. ]). G. MacDonneli's otiioe, Colonel Burton presiding. There was a very large attendance. The resolutions placed before the mooting wero to empower the directors to sell the company's property and to exeoute all necessary documents to effect such sale, and those resolutions were, on the motion of the chairman, adopted, the chairman said there was another matter he wished to refor to. Thero had been an advance in the value of the shares for whioh the directors could not account, and Mr. White, the manager, could give no explanation. The directors had, however, received a letter offering to show gold in the company's' ground in consideration of receiving shades and the supervision of the mine Colonol Burton explained that Mr. White, himself a large shareholder, was willing to surrender' the management of the mine it required; Colonel Burton did not divulge the name, of the person making the proposal, but said be was a gentleman _of repute, and the directors thought it a genuine matter.' Of course an export would report, but in the meantime the directors asked power to deal with the 5000 reserved shares. This was agreed to.