PERRY'S REWARD COMPANY.

Greymouth Evening Star, Volume XXXI, 18 June 1901, Page 2

PERRY'S REWARD COMPANY.

Thp first annual general meeting of shareholders of the Perry's Eeward Gold Dredging Company was held at the Company's office, Hokitika, yesterday. Seven shareholders were present and nine were represented by proxy. Mr P. J, p errr in the absence of Dr Teichelmann, occupied the chair. Mr Perry, before putting the motion for the reception and adoption of the balancesheet, paid he had just returned from visiting the claim and that the dredge was working splendidly but would take at least three weeks yet to open out. It was a coincidence that twelve months ago the

dredge started work on the Riverbank claim in Ofcago, It was a mistake for shareholders to think that by the purchase of a second hand dredge that tho cost was any less, as with the dismantling, cartage and other oharges it practically Drought the price up to that of a new dredge. The advantage was that it enabled tho company to work their claim within twelve months of their flotation. The Company was unique in this respeot and in having fortr shillings per share of their capital uncalled. Mr Perry took the opportunity of stating publicly with reference to the_ disagreeable rumours circulated by malicious porthat the vendors were the largest contributing shareholders and that not a /single paid-up share had been sold. He Jheld 800 contributing shares and though ■ twelve months ago the price was as high as 3s 6d premium, he had not parted with a single share. Mr Beare proposed the reception and adoption of the balance sheet and commended the directors for their splendid administration. He urged the administration of companies should be in the district where the claim was working and that the directorate should not be a numerous one. He referred to the expedition with which the directors' of the company completed matters and generally eulogised the management. Mr • Dabinett seconded the motion, which Was carried. Thero being no other nominations Messrs Perry and Michel, were re-elected directors.

Mr A. B. King was re-elected auditor. Mr M'-Naughton proposed a vote of thanks to the directors for their able administration during the past twelve months. Seconded by Mr Park and carried.