PERSEVERANCE COMPANY.

Nelson Evening Mail, Volume V, Issue 275, 22 November 1870, Page 2

PERSEVERANCE COMPANY.

O A meeting of the shareholders took place at the Assembly Room last night, Mr. Gouland iu the chair. On the motion of Mr. Cooke, seconded by Mr. Webb, Mr. Everett was unanimously elected a director in the place of Mr. G-oulstone, resigned. Mr. Richmond then in a leugthy but most sensible speech, addressed the meeting, expressing his hope that all would work well together for the benefit of the company generally, aud stating his opinion that the mine might be made to pay if judiciously and economically managed. With a view to creating discussion aud obtaining the views of shareholders, he then moved, That -without prejudice to any claims the company may have upon the promoters under the original prospectus, immediate steps be taken to increase the supply of water by the Par ipara race, so as to obtain sufficient for workiug the existing machinery, provided that equitable terms can be arranged with the Golden Ciully Company for sharing the cost, or for the apportionment of the supply. Mr. G-oulstone seconded the motion pro forma, and gave a clear statement of the present condition of the company. On the suggestion of Mr. Haddow, the correspondence relating to the water supply was read, as was the legal manager's abstract of accounts. On the motion of Mr. Luckie, it was resolved, That the documents read by the Legal Manager respecting the water supply, an<l the abstract of accounts, together wi'h the figures supplied by Mr Goulstone, be published for the information of the shareholders, and that this meeting do adjourn until this day week. Mr. Burnett and Mr. Sclanders then addressed the shareholders, and Mr. Luckie's resolution having been carried, the meeting, after passing a vote of thanks to Mr. Goulstone, the retiring director, adjourned until Monday eveuing next.