ENFIELD GOLD DREDGING COMPANY.

Otago Witness, Issue 2674, 14 June 1905, Page 27

ENFIELD GOLD DREDGING COMPANY.

An extraordinary general meeting of shareholders in the Enfield Gold Dredging Company was held at the registered office of the company, Rattray street, on Wednesday afternoon. Mr J. London presided, and about a dozen shareholders were present. The purpose of the meeting was to give consideration to the following resolution: — " That the company be wound up voluntarily, and that William Reid, of Dunedin, commission agent, be and is hereby appointed liquidator for the purposes of such winding up."

The Chairman detailed the steps that had led to the calling of the meeting. The dreSgemaster. he regretted to say, had reported that the claim was practicslly worked out, and it was useless to continue working any further, as a-ny gold won would not be sufficient to cover working expenses. Mr Robinson, the dredgemaster, had been specially asked to attend the meeting, and would answer any questions. It was very disappointing to have to make such a statement, and the results shareholders had hoped for had not been forthcoming. This was, he believed, partly due to the fact that their dredge did not dredge deep enough, which meant that considerable portion of the gold had been lost that might have been obtained had they dredged from 20ft to 26ft deep, as was driginaily intended. He believed there was, however, really no help for it but to pass this resolution winding up the company, and to arrange to sell the dredge and claim, if anything could be got for the •latter.

The Dredgemaster, interrogated, said it waß of no use going further with the present dredge. As to the claim, he knew no more than the directors as to what was below the-de-ySb. dredged to, where the ground had never been tested.

The Chairman moved the resolution that the company be wound up, stating that the directors had no desire at all to force this resolution upon the shareholders. If the latter desired to hold the matter over they could vote accordingly. After the company had paid wages and, as far as they knew of them, all liabilities there would be £55 odd in hand.

Mr J. Campbell expressed the opinion that the present state of things was due to their not getting at the initiation of fhe company a dredge that would work deep enough. Their dredge had not been able to work satisfactorily over 19ft. Without doubt, the best of the gold had been left in the claim.

The motion, after discussion, was put, and lost.

Oh the motion of Mr Anderson, seconded by Mrs Allen, it was resolved that immediate steps should be taken to dispose of the dredge and accessories, Messrs J. Campbell and Strain to be associated with the directors in this connection.

It was further resolved that the secretary be instructed to apply to the warden for protection during the balance of the term of the company's miner's right, and that the disposal of the claim or the dealing otherwise with the property be left in the hands of the directors and Messrs Campbell and Strain. Asked as to the position of the company, these resolutions having been passed, the Chairman said they were in the same position as a company as before, except that they were not working. After the dredge had been disposed of atnd shareholders had decided what they were going to do with the claim, another meeting would have to be called, at which the resolution re voluntary liquidation would have to be a^ain considered.

A vote of thanks to the chairman brought the meeting to a close.