MINING NEWS.

New Zealand Herald, Volume XLIV, Issue 13482, 5 July 1907, Page 3

MINING NEWS.

MINES AT COROMANDEL.

OLD HAURAKI AND BUNKER'S HILL

AMALGAMATION SCHEME adopted.

An extraordinary general meeting of the Old Hauraki Gold Mining Company was held yesterday afternoon in Mr. H. J. Gilfillan's office, for the purpose of dealing with certain resolutions, which had previously appeared in the Hkb.vld, to the effect of voluntarily winding up the. company, with a view to the amalgamation of the Hauraki with [lie New Bunker's Hill Company, and appointing Mr. Hi Gilnllan, jun., to the position of liquidator. j

The Chairman (the Hon. E. Mitchelson), in the course of an explanation on the basis of the agreement, said that the new company would be called the Old Hauraki Gold Mine, Limited, and would be registered with a.capital of £25,000, divided into 250,000 shares at 2s each. The new company would take over all the plant, goods, and mining rights of the Old Hauraki and New Bunker's Hill Companies. The Old Hauraki Company would have allotted 110,000 sliares in the new company for the existing 100,000 and the Bunker's Hill -Company 100,000 for the existing 80,000 shares, the Old Hauraki to receive £1000 cash and the Blinker's £250 within 12 months: Another 40,000 shares would be held in reserve. Under the agreement, which had been drawn up in conformity with the Act, shareholders would have the right, within 28 days, to apply for the shares to which they were entitled, upon which they would have to pay ld per share. On any shareholder failing to apply for his or her shares, such shares would be (■old, and any surplus, after the payment of expenses, would be returned to such shareholder.

The agreement was then read by Mr. Tunics, and the resolutions were passed. The chairman remarked that the decision of the meeting would be brought up at a future meeting for confirmation. Subsequently a meeting of shareholders of the New Bunker's Hill was held at the Chamber of Commerce Rooms, when resolutions bringing the company into liquidation, with a- view to amalgamation with the Old Hauraki, were submitted for adoption. Mr. A. Heather (chairman) in moving that the resolutions be approved, remarked that the terms of amalgamation had already been endorsed by the directors, and given publicity to; therefore, there was no .need for him to go into explanations. The resolutions were adopted. Mr. J. J. Craig -moved that Mr. Stubbs be appointed liqudator at £100. He remarked that a considerable amount of work in connection with the company had been performed by Mr. Stubbs, and as his salary as secretary was reduced some years ago, on the understanding that when golden. days were come upon it would be made up to him, Air. Craig thought it only just that the £100 proposed should he voted at the present time. The amount was approved, and Mr. Stubbs thanked the meeting for the unanimous vote, remarking that he felt all the more gratified, as it showed that his services were appreciated. A further meeting will be held in 14 days' to confirm" the-resolutions. TE PUKE. Mr. J. Hessey, of Masterton, who is acting on behalf of a Southern syndicate, in connection with the option of purcha.se secured over the To Puke Gold Mining Company's property, at Tauranga, is again in Auckland, and intends proceeding to the mine in a day or two. The syndicate is satisfied with the prospecting done, and assays of the quartz, so far made, and will now push ahead with further development, so as to thoroughly test the reefs proved to exist in the district. It is confidently expected that in the level lower than has up to the present been worked, ore of a payable character will be obtained in quantities which it is impos- . sible to estimate. WAITANGI. Th manager of the Waitangi mine telegraphed to Mr. H. J. Lee (secretary), yesterday, as follows: —" Small leader in foot- ' wall of Siam reef, west drive, low level, showing good dabs coarse gold.'' ' GOLD AND SILVER EXPORTS. ; Statistics relative to the quantity of gold j exported from the colony, for the past halfyear, with the export of gold and silver for , June, are given elsewhere. Mr. G. A. Buttle, chairman of the Stock Kx- ' change, mentioned .at the noon call yesterday ' that ii rumour was current from the South that the Auckland Exchange refused to quote the Forguaon's Minim? and Smelting Company's shares unless a payment of a fee of £2000 was made. tic characterised the tumour us absurd and stated that the fee leiied for quoting a company was £3 ss. So far the Ferguson Company I hod' not made an application to be placed on the [ share- list, and that fact clearly showed how unI founded was the rumour afloat. ' ' ' ! -" l>