THE GALLANT TIPPERARY QUARTZ MINING COMPANY (LIMITED).

Otago Daily Times, Issue 10423, 27 July 1895, Page 7

THE GALLANT TIPPERARY QUARTZ MINING COMPANY (LIMITED).

-~■-.. ':].., TO THE EMTOE. ■ .. - ~ Sm,—This company,"of 24,030: shares, has called .anOytraqrdinary general 'ineetiog'.'^o consider a call'of .2s 6d'p'er share lately , made by their dh-ectorslr I have heard'bf sticli.a call beinii'made, by a 1 liquidator^ hut ibis,' happily.Eelddin that one meets a mining,company so mismanaged as to make such a ruiuous call necessary. r

. THere are some features about this company that invite public CQipment oniits affairs. 1t,13 ouo of the oldest mine** ia Ota?6, formerly kcownas the "Nugget, aad,Carnislj,"tand-■-is'also one of the cheapest to work. It is worked by water y power, and there is a low-level tunnel driven froni: the level of the Shotover river. -Thus there is iiOexpeme: either in pumping water, i.hauUng up stone, or driving, the battery, as .iv..most: "mines. All the nienhave to do is to .pick the stone dowjn 'from overhead and it falls irito'the trucks, arid goestbenceall the wsiy-'ilownhttl to the battery.. Yet. will it be, believed that with such advap- ] . tases, whichshould make sd\vt stpac p*y expenses, they have noii oven Bucceeded in lnaking 7dwt to lOdwt stone pay. : But. wbrsa still fehiiins. lv 1890 'and 1891- a diyiilendi was p^id. Then a complete chapge.v; of ''management .'• tbok place, and the > bank overdraft' rose to, £394 id the balance' sheot )S9l-92, and has now reached \£2509.- thougli"'in the ■• meantime they Uave'batl £SiOo qut:of,theshareholdeiV-pockets, besides £SWQ in gold out of: tho mine; It pqzzlos liiß'toknow how they.could manage to spend it

The management has, I'understand, been; at sixes and sevens. To prevent business beinp done, calls niade, &c. members would turn up and count beads inside to see if, tto'ere was a ''quorum.:' If there was they would'go in to obstruct, and ]if thoi'e wasn't :they would ro away: That, Sir, is what is cocamo'nly reported doSvri'here, and shbws, a'.ong■•■with )! h'ave^ already mentioned, the lieceisity' of a complete "'change in tha management. I trust, Siri^K^'^ou.caivarrnpee.to have someone to report ttie'i)ioceeding3 of the meoting which: is to be held $6 Arrowtownou Saturday eveniDg nbjct, The-f^tkthat nearly 5000 jsharas are held: in 'Dunedinis my roasoii/for troubling you.—l am, &c,

-A Shabkholder.

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