ASBESTOS COMPANY.
The annual general meeting of the shareholde 1 s of the New Zealand Asbestos Csmpxuy wjs huld at Chri-tchuich oa the 3rd inst There was a lirgii att-.n I vnc«s of shareboliers. Mr Shiel (Ninmin 1 an.l Blair! vnpreseatei the J3ttaedia s-harehold- in. Mr T W. Stringir, the chsurman of fie p:o vision .1 directors, occupied til's chair. Ihe Lhairman s-nid that all the shares had been disposed cf, in fact over subscribed fo '. The provisional diiectors now retired, and the.meefcins; would be ca'led upon to elect seven permanentdirectors. The "-olicitors, Mes-rs Harmin and Slaude, ha i made sati-,fa"tory arrangements with th" G iveriitaeut as to the lease of the property. Mr (fios-niA-j; detailed tae nro -cdings of the provi i in'ii ai-ectors, and stated that the asbestos cloth woven from the New ZeaUnd mine was pronounced liy Mr B.'ll, the owner of the Camdian mine., tbe finest iv the world, to be the best he had ?een, aud he stated that he would sell out his Canadian n.ms and invest in the New Zealand one Mr UeiberoSoanes, who deserved the greatest po.-sibl-- c;eUt for his enthusiasm, had v. ritteu t ) ovti 25 > a-be'.tcs in^nufrfcturers in the woild, ii'nl htid r.jct '.vert mo;t eacouragi ;s leplie? atkingth" quantitiuo uptothousaod^ ortons which could Le ninplioa liy the Now Z-eabnd CompiU7". As to tlis quality of tue libr^, it had been slated by the be'?! authorities that it was remaik.ib'y goofJ. It had also been proposed that tha company should employ au expert to dtcide upo i the way la which fie claim .should be walked. They had a repo.it of asbestic on their claim, ar.d thou-acd-s of t-ms of this material was used us plaster in emericA. «s regarded the quantity, the iudications were that they had practicjllr au inexhaustible supply ; as to the quality, that was p:ovud by the opinion of the exports. . As to thtt accessibility, this was the difficulty they would have to face. They had a tender now before them for a tr.im hue at £200 per mile. All the money they spent in bringing the asbestos to market would, he felt bare, bs recouped to them, and he was sure that the5 r would iiad, as Mr Jones, the authority on the matter, had stateJ, that mining for asbestos, properly conducted, was more remunerative thaa mining for any other mineral. The remuneration of the directors was decided to be ]50{f-i per annum. The following gentlemen were elected as the permanent dneftors of the company, viz. :—: — Messrs 'J. W. Striuser, V,'. F. Russell, G. E. Pv'tchie, Gio=jmuui, Shiel, K. Soanes, aud Sir Gr. Clifford. lufLiecz\ a: 1 1 Bad Colds.— G. Bonnington, of Chrislchuroh, wishes to call public attention to the fact that; his well-known article, Cakeageen Irish Moss, is being freely but miserably i jmitated in the district o? Otago, avd would 1 guard purchasers against being misled by sack 1 \YQRTKLSSS EREEASATIQNS*
ASBESTOS COMPANY.
Otago Witness, Issue 2298, 17 March 1898, Page 14
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