TAIRUA G.M.CO'S MEETING.

Thames Advertiser, Volume VIII, Issue 2225, 15 December 1875, Page 3

TAIRUA G.M.CO'S MEETING.

Captain Eiohabds' 'report on' tlio' com* paiiy'smine, read at the, paeeting of shareholders held -in .Auckland ou Monday, gave in detail the workings and the' .prospects of the mine,,,and . concluded' with,; jhe -followingremark's Seeing, your company are committed ; to the erec*. tion of a twelve-stamp battery, wire tramroad, . and other contracts for machinery, &c,,' all;! of .which, are in a jery forward state, together with-thefacUhat tlid average ifalue' of the crushing material :to he operated on is not determined,' and* : can only be arrived at 'by actual practical operations," I am of; opinion'' the/most judicious -course, for you to adopt woiild be,to complete your plant with as little delay, as possible; and in the ideaotime open:up the face of the, ridge for the purpose of raising crushing material..Further

mmmgoperations must in a great measure be guided by circumstances as they transpire from time to time, and of which the officer in charge will; be able to take advantage, While I feel satisfied with my opihionras herein expressed, nevertheless I am fully conscious of the interests at stake, 1 and .. would therefore beg to. suggest that you employ some other gentleman for . the purpose of inspecting ahd reporting on your property, ■ after whioh a meeting of your shareholders might be called, wSea the whole case could be laid before ithem, and your future course in regard to the mine, &c,, determined.",-rThe Chairman moved the following resolution: "That [Rule No. 2 be expunged, and in lieu thereof the following be adopted: 'The direotors may from time to time make such calls upon the shareholders, in respect of all moneys unpaid on their shares, as they may think fit, provided .that no call shall exceed 5s per share, or be made within one month of the date of the making of the last call; and that seven days' notice at least is given of each call, and each shareholder ahall be liable to pay the amount of calls so made to persons and at the times and places ; appointed by the direotors."— I'his motion was seconded by Mr Wrigley, and. adopted nem. con,—The Chairman then proposed the following resolution, which was seconded by Mr Jackson, and earned :-" That a call of 5s per share be made ; that.on adding bant interest and cost of stamps shareholders' promissory notes : be accepted as payment of such calls, .payable Is per share one month after dato of such call, 2s per share three months after date of such call, and 2s per share five mouths after date of such call.; and that if any such promissory note or promissory notes be'dishonoured, shares in respect to the same shall become liable to be forfeited at:the option of the directors, and become the property of. the'company, and the whole or any part of such call shall be recoverable forthwith by action at law. .That no transfers of shares to registered unless payment of the said call of 53 per share be made thereon."—The following resolution ; was also moved -'by the Chairman, seconded by Mr Jackson, and -carried, "That an extraordinary general meeting of shareholders shall be convened for the 13th o't January next. The business of that meeting to be to confirm the proceedings Of -this 'present meeting, as also to take into considerationHhe advisability of extending' the capital of the company by the issue of 5,00 D new shares of:2os each."—This eoncliided the business, and a vote of thanks having been proposed to the chairman, the meetinj separated.- : : I