THE EUREKA QUARTZ MINING COMPANY, OF NENTHORN. TO THE EDITOR.

Otago Witness, Issue 1981, 11 February 1892, Page 14

THE EUREKA QUARTZ MINING COMPANY, OF NENTHORN. TO THE EDITOR.

Sin, — As I shall be unable to attend the annual meeting of the above company, I would crave your indulgence to make a few comments in re.

On perusing the balance sheet one cannot help being struck with the large amount (nearly L 1000) of calls in arrear. Allowing for what are doubtless bad debts, it does seem that there is considerable laxity in collecting the remainder of this large sum. Of course discretion has to be used in " putting on the screw," bv\t for those who won't pay there is nothing like legal remedies, they have a magical effect. Naturally a person does not care about disbursing for a venture that is not likely to prove a good spec, but if all the shareholders took this view, how would things be kept going. However, in justice to the others, some action should be taken to compel all to pay. Were this done it would obviate the necessity of striking another call, and thus the paying section would not have to bear more than their just burdens. In conclusion, I would remark that if the mine is ever intended.to be remunerative, some means of consevviug water will have to be adopted— two crushings a year will never provide dividends. With the battery kept going the greater part of the year, even on moderately poor stone, I am of opinion that the Eureka will yet redeem the "bad reputation of Nenthorn." It's now or never ; the funds will not stand any more experimenting. — I am, &c, CoN'bl'ANr CIiUMIIKCi. Dunedin, February 6.