VOLUNTARY LIQUIDATION

New Zealand Times, Volume XLVII, Issue 10846, 11 March 1921, Page 4

VOLUNTARY LIQUIDATION

TALISMAN MINE NO LONGER PAYABLE. DIFFICULTIES EXPLAINED. PBB PRESS ASSOCIATION. AUCKLAND, March 10. At the annual meeting of the Talisman Goldmining Company, it was resolved to go into voluntary liquidation. It was stated that the mine prospects and other conditions did not' justify a continuance of operations. Mr Blanchard, chairman of directors, said that the London investments when made were no doubt considered giltedged, but they had since depreciated ana were still liable to do so. The director® were compelled to take £6500 of the New Zealand Wax Loan, upon which 15 per cent, discount would have been accepted for realisation. The balance of the money was invested on share call. The working of, I *®™!," 0 last year resulted in a loss of £23,/84, due to the fact that the company had apparently reached the end of the payable ore. The attitude of Labour and the high rates of wages did not encourage the taking up of other property. They were compelled to install waterfeed drills, which meant a loss of £3OOO, and when" they applied to the Government for compensation they • were laughed at.