THE MAJOR ROBIN GOLD DREDGING COMPANY.

Otago Witness, Issue 2524, 30 July 1902, Page 25

THE MAJOR ROBIN GOLD DREDGING COMPANY.

The second annual general meeting ot shareholders in the Major Robin Gold Dredging Company was held on Monday. Fifteen shareholders attended the meeting, which was presided over by Mr H. Crust (chairman of directors). The Chairman read the report (already published), and supplemented it by a few remarks. He said the Duke of We'hngton Company had not been able to make a sta:t, but was going iuto liquidation. Under ths circumstances it was not worth their while to consider the matter of amalgamation any further. Possibly some arrangement might be made with some of the other companies adj?^ent to buy the Duke of Wellington machinery, to ifoirn a company v/ith smaller capital with the object of testing one or other of the various properties. It seemed a pity that the there companies— the Duke of Wellington, the Major Robin, aud the Lord Nelson— shou'd all go to the wall when so much money h?d been spent. The Duke of Yv'elhngton had spent m plaat £2100. If the shareholders of the Majoi Romn Company felt disposed to purchase ho believed they could g^c the plant very cheaply. He thought it would be worth their while to consider the matter.

Mr Don moved the adoption cf the leport and balance sheet.

Mr Shatid seconded the motion, which was carried unanimously.

Messrs R. Hudao i a'ld T. N. Don were ree'ected d-rertors, and Mr H. T. Wheeler auditor.

Mr Hudson put In a letter from Mr Lawrsiice, of Bannockburn, strongly a-d-vising that the company be VrOimcl up, as the o^im was, in his opin.o', ' ro good." He soscl that the directors weie the only ones making anything out of the ccuipany. The Chairman mentioned that the directoja had drawn no fees for 18 months.

Mr Sbar.d said hp spoke for the Oamaru shareholders, who held over 1000 shares. Ii wtib their belief that, the whole of the three claims were not pa3 r able. From the correspondence that he had received he believed that it was a big mistake that they were ever taken up, and he thought they should not proceed any further. He would move that it be a recommendation to the directors to call a meeting at a suitable date to consider the kdvisableness of gomg into liquidation. A vote of those pr^s^nt was taken on the matter, and the shareholders pract'tally unanimously declared themselves in favour of the recommendation made by Mr Siiand.

After a short informal discti°s:o)i the proceedings closed.