HIDDEN TREASURE.

Colonist, Volume XLVIII, Issue 11735, 18 September 1906, Page 3

HIDDEN TREASURE.

VALUE OF THE ORE DISCUSSED. Atl extraordinary general meeting ofjsharehoiders in the Hidden Treasure Gold Mining Company was held at Auckland on September 11th (states the "Herald"), at St. George's Hall, Grey Lynn, the chairman of directors, Mr fl. E. Choyce, presiding. The meeting was called |pr the purpose of considering the financial position of the company, and the question of future operations

The Chairman informed the shareholders that a cablegram recently received by the directors from Messrs Johnston and Co., smelters, of London, had stated that only "traces" had been found in the ore (about 4cwt) Bent to them for treatment, and that the ore was practically valueless. The finances of the company (he continued) had been exhausted; and .the only, holders who had paid t>h the bccaaion oi a recent call were the directors. As far as the property was concerned, an application had been recently made by another party for the ground, together with other jireaij i,u..t l.e. district, tor the purpose of propjoetang for iron, and the matter bnd been brought before the Warden's Court at Nelson. To protect shnronolders, the directors had instructed their solicitor to oppose the granting of the application, and advice had been received to the effect that the case bad been adjourned till the 17th inst. Although satisfied that certain tests made of ore from the mine were genuine, be bad since become disgusted with the whole thing, and was inclined to the belief that the mine was not worth going on with.

Mr E. Mahoney said he had been advised by a practical man of many years' experience in the Nelson district that the property was a good propQsition as far as iron was concerned, but that anyone who said th,6t gqid yt&s to be got from the ore was deceiving the shareholders. Mr Siddell said, he wished tc sound a note of warning to shareholders, and that was not to part with the property. He did not think that the maa-was in New Zealand or anywhere else who could get gold out of the Hidden Treasure ore by the ordinary hattery process. If they contemplated going into liquidation he was prepared to make an offer for the property himself. The Chairman said it was alright fqr shareholders to urge on the directors to go on, but nothing could be^dtine. without money.Mr Siddell said be had had the ore tested in other countries outside New Zealand, and had found that there was gold in it, and that it; could be got out. He had got it out; ..Mr C. Hartley asked Mr Siddell If -he would give the shareholders evidence that he had got gold, and could get gold from the ore. Mr Siddell, in reply, aaid he was not prepared, to .go further at prejjentj but wdu^ again, urge the shareholders not to part with the property. The meeting was then adjourned, pending the decision of the case in the Warden's Court at Nelson.