Mr R. T. Wheeler was unanimously appointed liquidator.

Otago Witness, Issue 2623, 22 June 1904, Page 26

Mr R. T. Wheeler was unanimously appointed liquidator.

' NEW FOURTEEN-MILE BEACH COMi COMPANY.

i A statutory general meeting of the JSew Fourteen-mile Beach Dredging Company was held in the board room, Agricultural Hall, on Wednesday, when Mr J. Moloney presided, and over 20 others were present, while 500 shares were represented by proxy. The report ot the provisional directors, as ©Iready published, was read to the meeting. The Chairman, in moving the adoption of the report, said, in accordance with the act, the position of the company on May 24 was set forth in the statement. Since that date the position of the company had considerably iml^roved. As the report mentioned, 310oz had been obtained, representing £1193 10s, and since then there had been two washings — one of 3020z 9dwt and one of 150oz sdwt — representing £1742 19s 9d, or a total, with the 310oz, of J!2J36 9s 9d. The i-re.«ent financial position, bo far as could be judged, after allowing for probable expenses to date, showed surplus funds at £2654 355, less arrears of calls £10 17s 6d, whereof unexcended capital represented £524 13s Sd, and tlie profit from gold was £2119 3s lOd.

Mr T. Brown seconded the motion, and congratulated the shareholders on the excellent returns.

The report was th'en adopted. The following gentlemen were nominated for the position of directors: — Messrs J. Moloney, F. Duthie, J. Macpherson, J. Edgar, R. T. Cooler, and C. R. Smith. Mr C. R. Smith withdrawing, the other five were elected at a remuneration for the coming year of 60gs. It was unanimously decided to allow the directors 3gs each for services prior to the meeting. Mr A. G. Feu-vick was appointed auditor. It was decided that the books should be balanced on June 30 in each year, the annual meeting to be held in August.