WALTON PARK COAL COMPANY.
Again the directors of this Companv failed to get a sufficient number o ; shareholders together to allow of the animal meeting be ng held. I wenty are required to form a quorum, and yet! -day only twelve put in an appearance. A - R. B. Cargill, who occupied the chair, explained to those present that the directors had completed the purchase of the Prince of Wah s pit for JL3.250, and next year were to lease Loudon’s mice at Walton Park. The Company held the whole of that field of coal over jwhich the Walton Park and Prince of Wales pit extended, and which was believed to comprise the very best bed of coal in the district, One important matter for the pro ; ecution of the Company’s business was the completion of the branch railway from Green Is’and to the coalfields. They would then be enabled to pul the coal the pits in+o the trucks aud immediately have it conveyed direct to Dunedin. The manager declared that it was quite equal to any coal found in Green Island, Tokotmiiriro, or Kaitamata, for household purposes. Dr Black had sent in a very favorable report upon the Company’s coal, and the result o f his analysis placed it in as excellent a position as any other coal brought into the Dunedin market As soon as they could bring it more plenti fully into the town, it would he used for other than household purposes. The coal was already in use in the factories here, and it is hoped that the steamers would shortly make an experiment with it. The Company bad been waiting on, having to cart their coal for sale. They must have more working capital, as the present capital was not suffi cient for their purpose. They should issue new shares or call a little on the shares already is-ued. He would be in favor of a call. As soon as it was seen what profits issued from their shares, the Company would be very favorably placed in the Dunedin market. The L> rectors would continue iu office till the next general meeting. The meeting adjourned sine die.
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https://paperspast.natlib.govt.nz/newspapers/ESD18741202.2.16
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Evening Star, Issue 3675, 2 December 1874, Page 3
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361WALTON PARK COAL COMPANY. Evening Star, Issue 3675, 2 December 1874, Page 3
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