MOANATAIARI MINE.

Thames Star, Volume LXIII, Issue 17570, 8 March 1929, Page 5

MOANATAIARI MINE.

ONLY 2600 SHARES LEFT.

“I am quite satisfied we can get this money,” said Mr. P. F. Watson, chairman of the Caledonia-Kuranui-Moanataiari Gold Mining Company, when informing a meeting of shareholders yesterday that only 2600 more shares were required to save the company from voluntary liquidation. Of the 32,250. shares -originally required, 29,650 had been 'subscribed.

Hie meeting was-called to confirm a resolution, passed, at an earlier extraordinary meeting, to wfind up the concern under the provisions of the Companies Act. After hearing the chairman’s report on the position, the shareholders present unanimously accepted his advice to throw out the resolution and give the directors an opportunity to raise the balance of the required capital. That morning the directors had secured all but 7998 of the shares needed, Mr. Watson said. They themselves had then subscribed 4750 shares between them, in addition to the quota they had contributed as shareholders, leaving a balance of 3248. still to be subscribed. Several hundred shares, were offered at the meeting, with the result that the balance required was reduced to 2600. A unanimous vote was then accorded against the resolution to wind up the affairs of the company, and the directors were authorised to proceed to allotment as soon as the 2600 shares were collected.