PERSEVERANCE COMPANY.— ADJOURNED MEETING.

Nelson Evening Mail, Volume VII, Issue 30, 3 February 1872, Page 2

PERSEVERANCE COMPANY.— ADJOURNED MEETING.

The adjourned half-yearly meeting of this Company was held at the Oddfellows' Hall last night, A. J. Richmond, Esq., in the chair. On the motion of Mr. C. L. Maclean, seconded by Mr. E. Barnes, ifc was resolved that the Directors' reporfc aad accounts as read be adopted. Mr. H. E. Curtis, who at the last meeting had endeavored to show thafc tbe accounts were made up on a wrong basis, no mention being made of the value of stock on hand, moved, " That it be a request to the Directors to furnish at an early date a supplementary account, which shall show more clearly than the accounts now produced do, the actual working expenses of the Company for the pasfc half-year, as well as the actual position of the Company as regards profit and loss." After a leDgthly discussion the resolution was negatived. Mr. Haddow, after some introductory observations, moved as follows : — " That the shareholders have no confidence in the Mining Manager." Seconded by Mr. Greig. Mr. Wells slated thafc he had the fullest confidence in the Mining Manager, and to remove hira and introduce a stranger, would, he considered, be a great mistake. Mr. Everett also epoke on behalf of Mr. Adams, whom he considered an upright, honest man, now possessed of considerable experience. Dr. Renwick would regard the passing of the resolution as a vote of censure on the Directors. The Mining Manager was their servant, and if he was incompetent, it was their place to have made the discovery. Mr. Burnett also defended Mr. Adams, saying that had his recommendations been followed, it would have been better for the shareholders. The resolution was rejected. Mr. Curtis moved, and Mr. Simmons seconded, the following resolution, which was carried : — 3. " That in the opinion of the shareholders, immediate steps should be taken by the Directors to enable them to form a reliable opinion as to the quantity readily obtainable of the galena and blende known to exist on the company's property, and by forwarding, say ten tons, to Melbourne or England, towards ascertaining the value thereof." Mr. Augarde moved, and Mr. Haddow seconded pro Jorma, the following, wbich was negatived :— 4. "It is the opinion of this meeting, that tbe Perseverance mine should be let

on tribute. That advertisements should | be inserted in the Melbourne, Sydney, Auckland, and West Coast papers, in order to carry this out." This concluded the business of the halfyearly general meeting. adjourned extraordinary meeting. An extraordinary meeting of the shareholders, called for the purpose of making an alteration in the Deed of Association, to enable shareholders possessed of len shares to sit as directors, had also been adjourned from last week. A question as to the legality of the proceeding had been referred to the Solicitor, whose opinion was read by the Legal Manager that it was competent for the meeting to make he alteration proposed, which was done accordingly. SPECIAL GENERAL MEETING. An adjourned special general meeting was tben held, to elect a director to fill the vacancy caused by the resignation of Mr. J. C. Richmond. Mr. Goulstone proposed that Mr. Richmond be re-elected, whose services he considered too valuable to be lightly parted with. Mr. Richmond had resigned, it was true, because certain thiDgs had i not been done to teßt the mine which he j thought necessary, but he believed he would serve if re-elected. Seconded by Mr. Webb. No other candidate was proposed, and Mr. J. C. Richmond was therefore reelected. A vote of thanks to the Chairman closed the business of the evening.