MOUNT MORGAN CLOSING
PRODUCTION COSTS TOO HIGH ENORMOUS ASSET SACRIFICED. LIQUIDATION OF THE COMPANY. By Telegraph—Press,Assn.—Copyright. Melbourne, April YB. The last stage in the liquidation of the Mount Morgan Gold Mining Company, Queensland, was reached when the liquidators obtained from the shareholders permission to destroy the books of the company and pay t the Walter and Eliza Hall .Trust an unexpected balance of £460. The liquidator, Mr. Niall, said the distribution of .23s IOJd on each 20s share in the company was satisfactory. He added that the closing of the great industry was wholly due to the hick of vision and co-operaticn >; the part of labour aud to the available capital, that rendered compulsory the abandonment and the ultimate sacrifice of a vast potential asset amounting to 8,000,000 tons of payable ore valued at £16,000,000, and plant which cost £l,000,000.
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Taranaki Daily News, 29 April 1931, Page 9
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140MOUNT MORGAN CLOSING Taranaki Daily News, 29 April 1931, Page 9
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