PERSEVERANCE GOLD-MINING COMPANY.

Nelson Evening Mail, Volume V, Issue 281, 29 November 1870, Page 2

PERSEVERANCE GOLD-MINING COMPANY.

The adjourned meeting of the share--1 holders of this Company was held last evening, in the Assembly-room ; C. L. [ Maclean, Esq., in the chair. Mr. Goulstone after a few introductory ? remarks proposed the following resolution, which was unanimously carried : — " This meeting will approve of arrangements being made by the directors, on the following basis, and will consider the effectual carrying out ' of such arrangements to be a full performance by the promoters of their obligations to the company

in the matter of water supply, as set forth or implied in the original prospectus. "1. In contemplation of expenditure to enlarge the race, negociations to be opened with the Golden Gully Company, for the transfer to this company of the entire right to and management of the race — this company guaranteeing to the. Golden Gully Company tbe full and constant supply, free of all charge for enlargement, or ordinary repairs of one sluice-head and a-half of water, in case the total supply proves less than six sluice-heads ; or of two sluice-heads of water in case that total supply proves to For remainder of News see Fourth page.

amount to, or to exceed six sluice-heads ; but such guaranteed quantity not at any time to exceed one half the total supply. " 2. If such negociations should be efiectual, provision to be made at the sole expense of this Company for bringing down the race the whole of the water which passes the head dam, provided the quantity in ordinary weather shall prove on measurement to be not less than five and a-half sluice heads. "3. All expenditure for the above purpose, not exceeding £1200, to be charged to the profit and loss account."