THE GOLDFIELDS.

Auckland Star, Volume XXXVIII, Issue 195, 16 August 1907, Page 2

THE GOLDFIELDS.

HARDY'S HIKES, LIMITED.

The secretary reports that the reconstruction scheme was completed on the 20th day of July last, and that a considerable amount of work has been done preparatory to commencing active operations on the property. Mr. E. F. Adams has made a detailed survey and accurately located the line of the new tunnel which it is proposed to drive for the purpose of intersecting the "Hero" lode. The length.of this drive will be 850 feet, .and Mr. Adams .has drawn up plans and specifications .tor the work, and has "been instructed to call-for tenders. The company is also advertising for a working manager, and as soon as a suitable man is -found, work will be commenced by cutting a track to the mouth of the new .timber for the drive will be cut and stacked ready for the contractors, .and the tramway ■will.be put m"go 63. wSrking order forthwith; TALISMAN CONSOLIDATED. AN IMPORTANT PROPOSAL. At the noon call of the Auckland Stock Exchange to-day, the chairman (Mr G. A. Buttle) read the following cablegram ■bearing the name of the chairman of directors of the Talisman Consolidated G3I. Company:—"Suggest appointment of Agent-General- to represent colonial shareholders. Would this be satisfactory to you? I can arrange board of directors commission reduced one half. I consider proposal fair one. 'Do you'concur? If so, -directors propose to announce this publicly."

The Esc-haige decided -to defer Consideration of tne cable.

Ii may be mentioned in explanation of the cable, that at present the directors reetive five per cent commission on all dividends paid over a sum stipulated, and that this offer will mean their receiving £1500 in iuture instead of £3000. The appointment of the Agent-General to the board of directors is, of course, to give colonial shareholders .direct representation, :now that such a .-large propor••■fciera of -the- shares in the company are held in New Zealand, namely , , over 200,000. It will be remembered that New Zealand shareholders moved in. the direct tion of getting represented on the board of directors, and at the present time powers of attorney are. being signed by enable some changes to be made." Already power of attorney,-: representing :"O>OQO shares, has_ been given in Wellington, and within the last week Auckland shaieltuldErs~"faa-ve given power of attorney for 20,000 shares. The offer in the does not go-to-the length asked by local shareholders, namely, that there shouldalso-be a local board- in the colony seeing that the majority of the shares are at this end.