MINING.
FPbb Pbess Association.!
AUCKLAND, Nov. 5,
The Bank of New Zealand and National Bank special claims, comprising 200 acres, situated to the north of the Luck at Last property at Whangamata, were recently placed under offer to Messrs Seaver Bros., with the result that the latter have decided to take the option of purchase, the sale to be completed by the end of December. Already the sum of A'4oo has been paid on deposit, the terms being working capital of .£25,000, the shareholders to x'eceive .£3OOO in cash and onefourth fully paid up shares. At a meeting of the shareholders it was decided to accept the terms offered. An offer for the flotation of the "West Derby property on the following terms has been accepted : — A company to be formed with a capital of .£150,000, in .£1 shares, the vendors to receive 50,000 fully paid up shares and .£4OOO cash, a working capital of not less than .£25,000 to be provided.
According to a London correspondent the Koyal Standard claim has been registered as a limited liability company. The capital of the concern is .£200,000, of which .£50,000 will be available for working capital.
DUNEDIN, Nov. 5,
The return from Roxburgh Amalgamated Sluicing Company for the month is 117oz 4dwt logr, valued at .£451 6s 6d.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/TS18961106.2.7
Bibliographic details
Star (Christchurch), Issue 5714, 6 November 1896, Page 1
Word Count
217MINING. Star (Christchurch), Issue 5714, 6 November 1896, Page 1
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