TO SEARCH FOR GOLD

Waihi Daily Telegraph, Volume XXVI, Issue 7908, 28 September 1929, Page 2

TO SEARCH FOR GOLD

WAIHI PROSPECTING AND MINING GO. MEETING OF COMMITTEE PROSPECTUS APPROVED Further progress towards the formation of a district prospecting and mining company to investigate hitherto unexplored areas on the field in the hope of making fresh discoveries of importance was made at a meeting of the committee appointed to carry out the preliminaries held in the Borough Council Chambers on Thursday evening. Mr W. M. Wallnutt (chairman) presided and others present were Messrs H. W. Hopkins, E. A. McLeay, J. B. Beeche, E. Dye, W. F. Mac Williams and W. H. Toy. In acknowledging receipt of the report of the public meeting of Waihi citizens at which it was decided to launch the company, the Hon. W. A. Veitch, Minister of Mines, stated that he was following the steps being taken with interest. —Received. Mr Geo. C. Creagh, chairman of the Auckland Stock Exchange, and head of the broking firm of Creagh and Creagh, who was consulted on the subject recently by Messrs Hopkins and Wallnutt, wrote intimating that his firm, in conjunction with three others, would be prepared to act as brokers (for the selling of shares) in connection with the flotation of the company. The other brokers named in the letter were Messrs Frater Bros., Messrs Hendry and Hay and E. J. Richardson.

Members of the committee having expressed satisfaction at the fact that leading members of the Auckland Exchange had consented to act the letter was received. SYMPATHY WITH SCHEME In the course of a communication bearing on the proposed operations of the company Mr A. B. Nickisson informed the committee that as his farm on the Waihi Plains was on the line of certain of the lodes being worked on the Waihi field he would be quite willing to allow the company to carry out boring operations on the property subject to an undertaking being given that no damage would be done to the fences on farm in the event of investigations being conducted thereon. It was decided to thank Mr Nickisson for his offer and inform him that same, together with his remarks, would be referred to the experts to be consulted with as to the most likely areas for investigation. Tho secretary of tho Ohinemuri Engliiie-drivcrs’ and Winders’ Union (Mr A. E. Ritchie), in acknowledging receipt of a copy of the circular letter’ recently sent out hy the committee inviting those circularised to give some indication as to the probable number of shares they would take up in the eventeof the company being floated, stated that owing to the death recently of a member of the union his executive had not held its usual meeting. He, however, would place the matter before the executive at the earliest possible moment, confident that it would be sympathetically received and that the union—forty strong—would give practical support to the company. The letter was received, Mr Ritchie to be thanked. - Provisional directors of the coim pany were appointed as follows; The Mayor of Waihi (Mr W. M. Wallnutt), Messrs J. B. Beeche, E. Dye, H. W. Hopkins, W. F. Mac Williams, E. A. McLeay and W. H. Toy.

The Bank of New Zealand was appointed as the company’s bankers and Mr F. C. V. Clark the company’s solicitor. OBJECTS OF THE COMPANY The prospectus of the company and memorandum of association were submitted and with minor alterations were approved. These will be typed and sent on to the brokers in Auckland for perusal, after which they will be printed for circulation in connection with the share selling campaign. The prospectus sets out the objects of the company as follows: — (1) To carry out a further investigation of the southern, or Waihi? Te Aroha-Katika<i, section of the Hauraki goldfield, with a view to the discovery of new gold, silver or other mineral deposits of value.

The particular area that the promoters have in view is that extending from an east and west lino drawn across the Hauraki Peninsula just north of Waihi, to the Te ArohaKatikati disl.net in the south. If found advisable, however, the area of investigation could be extended southward.

(2) To carry out preliminary mining operations on any promising deposit discovered, with a view to testing its economic value. (3) Generally to undertake Itself the business of mining and (or) promote companies for the working of deposits of proven value. For the purpose of the preliminary investigation it is proposed to seek the co-operation of Dr. J. Henderson, Director of Geological Survey, and invite him to confer with local mining men, as to the most promising areas for investigation. Dr. Henderson made a geological survey of the To Aroha-Katikati area in 1911-12 and is, therefore, well acquainted with the district.