Tairua Gold Mining Company.

Thames Star, Volume VII, Issue 2027, 3 July 1875, Page 2

Tairua Gold Mining Company.

The first ordinary meeting of shareholders in the above company was held at the Pacific Hotel, Grahamstown,, this morning at half-past 11 o'clock to eleGfc directors and for other businessMr "W. B. Jackson in the chair. • There, ■were present about 25 shareholders.' Mr George S. Graham, secretary, read? the provisional directors' reports and balance sheet. He said there were outstanding accounts, such as the law expenses due to Messrs Hesketh and Richmond, the amount df 4 which was not known. . . The mine manager's report was then read. ■' " ■ Mr Sully said he would like to makea resolution. There were a number' of shareholders who had not been able to get their .transfers', registered, and there had been.no notice that the transfer books would be closed."' He would, therefore, move ;that >;aU,- -shareholders- who came forward, jpith.tfansfers be allowed to take part in the proceedings. Mr J. B. Beeche seconded. Mr Brassey moved as an amendment that these shareholders be not accepted. Mr Hennelly seconded. Mr Sully wished to know in what capacity Mr Brassey'appeared. Mr Brassey said ho doclined to give any answer further than to state that his name was on the register of shareholders. Mr Sully said it was stated that Mr I Brassey was present in the capacity of adviser to certain ' shareholders also present, and if it were, so, there were others who should bo allowed to have a solicitor present. Mr Brassey said "he was there as a shareholder, and he was not a new shareholder, as his' name had been on the books for a long time. Mr Wrigley thought they were met for a specific business, not for receiving or registering, shares. a \ Mr Sully said there "had not been sufficient'notice of the meeting, as the only notice that had appeared in a Thames paper was that in. the Evening Star last night. Many shareholders never saw an Auckland paper;:) / ■• i .:! Mr Sully would also like to know how many shares there were in< the company. Mr Jackson (Chairman): 10,000 shares. Mr Sully: Is it correct that the Secretary holds 1000 shares in trust for the company? The Chairman: Yes.

The Secretary: No. Mr J. B. Graham j No. [Mr Neves was understood to remark that it was a swindle.] Mr Sully then said he should object to any cne yotipg on those shares, and he would wish that objection to be taken notice of. The Chairman said there were 1000 shares given over in trust at the first meeting when the company was incorporated, and now it was denied, they could not settle tho matter thero. It would be a question for a court of law or equity. Mr G. S. Graham would distinctly and emphatically deny that any: - shares; had been given over in trust for the company. i Mr J; B/ Beeche said that it was in con* sequence of these shares he wac infavor of admitting outside shareholders r An important question was involved. • Mr Cameron said he had bought shares yesterday on the understanding that there were 9000 shares only in the company, and he would like to see the question of these 1000 trust shares settled. ; After some further discussion, ; The Chairman was proceeding to put the ...amendment t and resolution/when-— •-. .'■ Mr^BrasseyVaid he was convinced that transfers could not be received at that meeting, nor at the Thames. They must be sent to the registered office of the company in Auckland. ;' " • Mr J. B. Graham supported the view advanced by Mr Brassey. Mr Wrigley called attention to the business for which the meeting was called, namely, to elect directors. Mr J. B. "Beeche considered if'a ma--jority of the meeting wished it, they could admit as many as they liked. (The advertisement calling the meeting was read, and it was for the election of directors and such other business as may be Drought before it.) Mr Sully ,said by adjourning the meeting for ah hour they 'could put the other shareholders on the books and qualify them for taking a part in the business. He would Jao in favor of that adjournment. " ■ > Mr Clymo supported it. He said the Tairua Company was getting a greatnotoriety, and by , adopting the - course which was "sought -by some they would be injuring" the company and the district. The question of these 1000 shares had been talked of outside, and it ought to be settled. . , ■ i,,-., ;-, . * Mr J. It. Perry thought the - me'et■ing could pass a resolution admitting the ' shareholders referred to. ' ' The Chairman then read the resolution and amendment. ■ > ' ' ' ,Mr Wrigley said.why not.adjourn for a week'or'a fortnight:' " -' -' Mr McCullough said, if he were in order,'he-would move the adjournment of the meeting for an hour, and allow transfers to bereceived-and registered. Mr Brassey again objected to allowing; any .-.transfers to; be' received, r ■ Mr Sully said there were some curious: affairs that wanted investigation, and this 1000 shares, said to be the' property of 'the Company,, wanted ventilation. -Inthese questions there^were many shareholders outside who were, as much/interested as those present:' Mr Cameron seconded the amendment for an hour's adjournment. Mr Sully saicThe would withdraw the original motion if allowed in favor of; that for an hour's adjournment Mr Perry, though agreeing with Mr Sully generally, would oppose the adjournment for an hour.' He did not think there should be any opportunities allowed for transferring shares to persons to take part in that meeting. For his part ho did not know anything of the business until he had come there. _ - Mr Wrigley would move another amendment, to adjourn the 'meeting for a month to allow all the lawyers of the Thames to berpiit ion}thej.[register of shareholders. j !; ;Mr.<Bra:sse.ylsaid cthe; more-shareholders they got the hotter heads they got, and' they didn't want an inquestin ft < The Chairman then proceeded to again put the : 'A, ■ ? ) > ;', There no seconder for Mr Wrigley's amendment/so Mr ;JHBi'Graham said he would second it. - The Chairman then put'thV last amendment. , . .. ■- A show ;of hands was ''called for, and there was one for it and about a dozen against. ' ' " ! The Secretary, Mr G. S. Graham demanded a poll- . . Mr ; J., B. Beeche proposed, and Mr ' Sully moved that Mr J. R. Perry and Mr Cameron be appointed scrutineers. ; The discussion was then resumed. jiMr G* S. Graham hoped-the matter would be reconsidered. He would like to see ; the-meeting adjourn for a week, and the necessary notice could'be given. Mr Brassey ,said;a poll must be demanded by at least five shareholders, according to the Act. There were only threb asked for a poll, and the amendment was then declared lost on the show of hands. The amendmtpt proposed by Mr McCullotigh, for an hour's adjournment, was then brought on again. Mr G. S. Graham said it just occurred to him, that the Chairman should retire and another chairman he appointed. - It was suggested toJ\lr. Graham that that course would have' been correct had the reports been adopted, but not otherwise. Mr Wrigley moved their adoption, but he was informed that there was other businessbefore the meeting. <: The amendment of Mr McCullough was then put;, there being 11 for and 3 against it. The amendment was declared carried, and the meeting was adjourned for an hour. .