NONPAREIL.

Auckland Star, Volume II, Issue 558, 24 October 1871, Page 2

NONPAREIL.

To the Editor of the Evening Stak.

Sib, —lfc turns out thub the ."hawks" were abroad, and quick to take advantage <3 i ir . ing the late unwarranted agitation in the Nonpareil, and caught the shareholders napping when they changed th.i management. The contemplated amalgamation '.of the Waitemata with the Nonpareil on- a scrip basis, viz., three Waitematas to one Nonpareil, is one of the most outrageous proposals yet made on the field. On the best mining authority, tho Waitemala is said to bo almost wovkeci out. No gold hits'been taken out of the Nonpareil lower workings nearer to the Waitcmata boundary than 35 feet. It is notorious that the reef in the Nonpareil towards tho Waitemata is-not nearly so good as in the opposite direction. I have it on what I consider undoubted autho rity, that the amalgamation originated with Nonpareil directors who are concerned in it, and who hold themselves, or in the name ol another, 1315 shares in the Waitemata Company for the purpose of, securing amalgamation s all of WTTioh stamps unrnistakonbly the character of the men who kindly volunteered to displace their predecessors, aud manage the compauy'auilV.irs in the -interest of every shareholder.

The late administration were prepared i buy the Waitemata claim for eashf and f° 1 give the Bum the machinery on the Wa'f ' mata cost-, but never for a moment dreamt '% lowering tho value of Nonpareil scrip by creasing t'-.e i.umber of shares for a piece' 11? ground considertd worked out. This, tlrereforo, is to warn the Umv . shareholders of the trap that is laid f or \h and to ivfuse tho proxies which will be Si tainly obtained from them if they are caiSt asleep, and if t.hej have given proxies V, : withdraw them at, once. ' ' \ if the amalgamation, as intended f la% place, farewell to dividends. Strong , U 1 plHii.ts may fairlj be made as to the manW ' in which tbo nonpareil mine has been worU* fora montli flab, apparently' to prepare tl,, way for amalgamation.—l am, &c, • : An Obiqikal Shabkhom>ee LAb there is a meetmg of shareholders'nf the JSonpare;! bting held this afternoon th matter will, doubtles?, be carefully sifferi' n «j it the above allegations are correcfj we hay no doubt caution will'be enjoined on tt,° directors.—Ed. E.S.] J the