NONPAREIL AND ITALIAN GOLDMINING COMPANIES.

Thames Star, Volume VI, Issue 1800, 9 October 1874, Page 2

NONPAREIL AND ITALIAN GOLDMINING COMPANIES.

(To the Editor of t,I)C J&iening Star.) >„, Sib, —As the time approaches for the extraordinary meeting of; the abb re two companies, to confirm the action of the director* in their scheme of amalgamation, 'it becomes each day., more that the shareholders of the Italian Company will reject the scheme as prejudicial to their interests. This is not at all surprising, considering .< what they have to lose and the Nonpareil Company to gain. There can be no doubt that when the> pror posed basis of amalgamation is fnirly examined it Mill prove to be one of the most unfair and unjust schemes submitted to any body of shareholders. That amalgamation is a step in the right direction I admit, but not on thoss terms, and I out*, tion if the Nonpareil be the proper co&* P. ny ,t0 J om- Ifc is a Fell-known fact that the Nonpareil Company's deep workings are withm. 60 feet of the Central Italy boundary, and that this deep level was unproductive of gold, so that to open a new level (»11 they can 1 get) would be at least a very unwise policy, •specially as their shaft has! collapsed. There is a section of the lode recently opened in the adit,level, 60 feet it* length south of the slide and against the Italian boundary, but this can only be -worked down for 20 feet, as water came into the winze mt that depth from the old workings. To work this small section of ground and open a deep level would require the sinking of a new shaft. And the Nonpareil directors know too well that it!Jg not worth the expense and trouble so to do, hence their anxiety to secure the Italian shaft. The Italian Campany have secured the same) clode 'in Mheir. ground as that which is producing gold in the Nonpareil, but beyond driving upon it for a few feet in a southerly direction, it remains unprospected; and as the indications are good surely the shireholders of the mine .trill not give up possession for a paltry 2,200 shares; Although a vast amount of money and labor have been expended on the Italian ground, yet we know that it is only recently that something tangible has been secured, and surely when such isr the case we are entitled to a more liberal offer from the Nonpareil Company. My ideas of amalgamation are—to ascertain what the Central Italy Company would offer, as that company's tunnel is coming' up to our boundary, and the whole of the lodes could be worked far cheaper by that mode than by a shaft, a§ no machinery would be required and the stuff delivered at the battery for nearly one half the cast than if we amalgamated with the Nonpareil Company. The above I recommend to my fellow shareholders, and trust they will withhold their proxies and attend the Meeting to hear the views of all parties. y Italian Shabehoidbb; ;