CRCESUS COMPANY.

Otago Daily Times, Issue 8793, 1 May 1890, Page 2 (Supplement)

CRCESUS COMPANY.

TO THE KDITOH. Sir,-I received a notice to-day to pay Id of a call on a number of Crcesus gold mining shares I have the misfortune to own. On turning up the prospectus I find that the profits were expected to amount to £23.000, or 230 per cent, ncr annum. Now before going furiher, I thiuk it is now high time a general meeting of the company was called to ascertain the reason these magnificent dividends lire not forthcoming. Rumour states that tha reef has pinched out. If this be untrue the rumour ought to bo contradicted. The weiKlit of stone which it was prophesied I would turn out 230 per cent, dividends, waa 100 tons I weekly. I suppose one head of stamps will crushone ton of stone per day and six per week, and that five will crush 60 tons—of course excluding Sundays. I should like to ask why. 60 tons at least are not crushed weekly, which, at the estimate of IJoz per ton, would turn out 90oz of gold per week; also, whether it is in contemplation to erect more stampers and to drive with a compound condensing engine, or to Bend the stone to (he mills in course of erection. Theie are matters the shareholders have a right to know. I was offered 500 shares at Id each, and they are quoted at nothing. Who or what is to blame for this ?-I am, &c , April 30. A Disappointed Shareholder.