Croesus Company.

Otago Witness, Issue 1891, 1 May 1890, Page 22

Croesus Company.

TO THE BDITOB.

Sir,— l received a notice to-day to pay Id of a call on a number of Croesus 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, per annum. Now before going further, I think it is now high time a general meeting of the company was called to ascertain the reason these magnificent dividends are not forthcoming. Bumour states that the reef has pinched out. If this be untrue the rumour ought to be contradicted. The weight of Btone which it was prophesied would turn out 230 par cenf. dividends, was 100 tous weekly. I suppose one bead of stamps wi'l crush one ton of Btone 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, whioh, at the e»tiraateof l§oz 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 send the stone to the mills in course of erection. These 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, &o , April 30, A Disappointed Siubehoijjbb.