The Waio-Karaka Drainage.

Thames Star, Volume VII, Issue 2144, 17 November 1875, Page 2

The Waio-Karaka Drainage.

MEETING THIS DAY.

A meeting was held at the Pacific Hotel this morning of persons interested in the Waio-Karaka drainage question. The meeting was convened by circular, and the following representative's of companies wer§ present:—City of York—Mr W. Wilkinson (in the chair) and J. Gribble. City of London —Mr T. B. Hicks \ Queen of Beauty—Messrs J. Stewart, McCabe, Thomas* and R. Maccjoriald; Queen of the May — Messrs Turtle and MoHntyre ; Crown PrincessMr J. Daniels. New Exchange—Messrs Ruddock and Fryer; Bird in Hand—Mr James Macky. Mr John Murray was present as representative of the New Zealand Loan and Mercantile Agency, mortgagees of the Bright Smile Goldmining Company's property. The chairman having explained the object for which the meeting had" been called —

Mr John Murray proceeded to explain the terms on which the mortgagees werV willing to make an arrangement, the proposal being in substance as .follows:— That the mortgagees are willing ; to sell the Bright Smile shaft and pumping plant to an association of mines interested; the price to be fixed by arbitration. In the event of the proposal being agreed to the shaft to be pumped dry at the joint expense of the. several mines to enable the valuators to examine the shaft.

Considerable discussion took place on this proposal being read. Ultimately— Mr Mclntyre moved and Mr Thomas seconded—That the Chairman inform the mining companies interested that such a proposal has been made, and request each company to appoint delegates to meet at the Pacific Hotel, Grahamstown, on Friday, the 26th instant, to further consider the question. A vote of thanks to the Chairman concluded the business.