LEVIATHAN GOLD DREDGING COMPANY.

Greymouth Evening Star, Volume XXXI, 10 December 1901, Page 4

LEVIATHAN GOLD DREDGING COMPANY.

A well attended meeting of local shareholders in the above claim, was held at the Gilmer Hotel yesterday afternoon. Mr Parfitt, who was voted to the chair, explained that the meeting had been called consequent upon the following notice having been given to "Tbafc it has been proved to the satisfaction of the shareholders that the Company cannot, by reason of its liabilities, continue its business, and that it is advisable to wind up the same, and accordingly that the Company be wound up voluntarily. A circular had previously been issued offering to the shareholders 12,000 preference shares at 5s each, and the directors stated that only 6,117 shares had been applied for, exclusive of the directors. The issue of the above 12,000 shares was thought to be sufficient to pay off all the liabilities, amounting to £3,300, but since then direotors had found extra expenses incurred owing to the breakage of dam and other accounts coming in which brought the total up to £3,690. Mr Cray aaid that he applied for some shares, and wired stating that he could place 1,500 if they would lot him have them, but got no reply. MrPochinalso wired for shares and got no reply. Mr Wickes said he wrote stating that if they found any difficulty in placing the Bhares to let him know, and he could place 1000, but got no reply. Messrs Cray, Wickes, Eundle, and Pochin said they could place now 2,500 shares if the allotment was guaranteed right away. But th9y would not place any shares unless this was done. Tbe directors,.if they held back for a week or two in allotting, would then see how the cl»im was shaping, and they thought th»t if it was not very encouraging they would get their shares, but if it turned out well the shares would all be tali en up aid t leir applications crowded out. The position of affairs as they now stood was that if the directors took their quota of the preference shares, together with the shares to be placed by the local brokers the amount would be subscribed. It was resolved to strongly oppose liquidation.

Mr Byrne stated that he could recommend a reliable gentleman, Mr Moodie, to act as their proxy at the meeting in Christchurch on Friday.

Mr Eitchingham moved and Mr Byrne seconded that Mr Moodie be appointed. Carried.

The following resolution was then passed unanimously : " That (his meeting views with alarm the proposal to liquidate the Leviathan G. D. Go, and regret that more attention was not paid to the overtures for preference shares made by several brokers in Greymoutb, and, further, that the meeting is of opinion that an additional 2,500 preference shares can now be phced if the directors will give an assurance that allotment will be made pomptly on application.

• Resolved that Mr Andrew McKay, who will be ia Cristchurch on Thursday, interview Mr Moodia and supply him with all necessary information.