ALBION QUARTZ MINING COMPANY.

Auckland Star, Volume II, Issue 479, 24 July 1871, Page 2

ALBION QUARTZ MINING COMPANY.

The first general meeting of the shareholders of the Albion Gold Mining Company was held at the Mechanics' Institute, at eleven o'clock this morning, for the purpose of electing directors and other business. Mr. T. Rusnell occupied the chair. Mr. Tothill, the legal manager, read the following report, which was adopted:—

The First Eepoet of thk DißEbTous or the Albion Qcabtz Mining Company, Limited.—The directors have much pleasure in being able to report to the shareholders that all preliminary arrangements have been completed, and the company duly formed and incorporated. The claims known ns the Belfast and Poverty and Charleston have been acquired for, and conveyed to, the company. The directors —having been appointed provisionally, and holding office only until this meeting—did not feel themselves authorised to pledge the company to any future arrangements regarding the company's property, so that the directors to be appointed to-day will be quite free to make such arrangements as they may deem most advantageous for the future working of the mine. There arc no funds at the disposal of the company, but your directors suggest that the balance of funds belonging to the Belfast Company be handed over to this.company, against »n equal sum to bo paid in by the Poverty and Chark-stou Company, the Kelly Company nlso to contribute a proportionate amount. Thcsn contributijns will give fie company nearly £1000 of nvnilublo capital, and save the necessity for an immediate call, or for the sulc of any of the surplus shares at the present time. A. resolution authorising these payments will bo submitted to you for your adoption. Under the fifty-fifth clause of the articles of association it now devolves upon the meeting to elect directors. The retiring directors, Messrs. Kussoll, You der Hcydo, Alexander, Chapman, Weston, and Dixon, are eligible without notice ; Messrs. C. J. Taylor, W. C. Wilson, John llay, and Waller Lee, have given the requisite notice, and are also eligible. —T. Russiill, Chairman.

On the motion of Mr. Wm. Aitken it was carried by a large majority of the meeting, " That 14,00 shares in the Albion Quartz-mining Company (Limited) be allotted to the shareholders in Kelly's Gold-mining Company, in payment of their claim."

The following gentlemen were then elected directors for tho ensuing year :— Messrs. Thomas Russell, Chas. Alexander, Warwick Wcston, Gustav Yon der Hc-yde, Charles Jjimcs Taylor, William C. Wilson.

The meeting then separated