VULCAN GOLD DREDGING COMPANY.

Otago Witness, Issue 2572, 8 July 1903, Page 34

VULCAN GOLD DREDGING COMPANY.

The third annual meeting of shareholders ot the Vulcan Gold Dredging Company was hold, at tho registered office of tho company, Lower HMi street, on Friday evening. Mr T. Colo pi-Aided, and 11 shareholders were present. The Chairma.n, in moving that tho report (already published) and balance sheet bo taken as read, said ho was sorry for the shareholders that things vrere so bad, but tho whole oause of th" trouble was the laxity of a large number of shareholders in not paying up their calls. The share list wm not a good one. as there we r e a largo nu"'bpr of infants on it, who, of course, could not be sued. They had issued suninioiuM against those they thought thoy could pot tho money from, but the summonsea returned marked nuHa bona. It was for the meeting to decide whothor they should reconstruct. The secretary and directors had done everything in their power to t>ush the company on, but, like a good many others, it had turned out bad. Thoy had never been in tho position to test whether tharo was gold in the claim or not. Sixteen shillings per share had been called up, and the rails in arrears amounted to £1407 3s 6d. He thought a call of Is por share would wipe out everything a.nd leave a little to the good. Tho report and balance she«t were adontr ■■ In answer to questions, the Chairman said! ho did not think there was any chance of getting the claim worked on tribute. He estimated it would take about £300 to liquidate tha company, or about Is por share A motion that the company bo wound up was carried without dissent, and Mr R. S. Black was appointed liquidator, tho remuneration, being fixed at £25.