RIVERTON.

Southland Times, Issue 1210, 15 February 1870, Page 2

RIVERTON.

(FEOil OTJtt OWIT CORRESPONDED.) A special meeting of shareholders in the Longwood Water Race and Ground Sluicin? Company was held in the Courthouse here on the evening of the Bth inst., Mr James Surman being voted to the chair. The Manager's report was read as follows : — Mr Chairman and Gentlemen,— Your Directors have to report that, since the last meeting of shareholders, the race and ground of the Com- 1 pany has beon leased to Mr Surman. for 12 months, at £75 per annum, but that shortly a(W the period of leasing 'the lessor desirod to withdraw his tender, and your Directors, believing it to be for the interests of the Company, freed Mr Surman from all liability a3 lessee of the property, as from and after the -3 1st .January. Fresh tenders having been called for, with the result of six being handed in, the amount offered varying from £60 to £110, the highest of which was accepted, but the tenderer failing; to carry out his offer, tenders were again called for, one only waa sent in, which was not entertained, the amount offered being £50 per annum. Tour Directors then decided to call the present meeting, to take into consideration the advisability of selling the Race, &c, this being, in their opinion, the only eligible coarse open to the Company, unless the shareholders^determine to render the Directors some material assistance, and endeavor by all means in their power to improve present prospects, and remove the well-founded cause for complaint as regards the extreme apathy that has prevailed in respect of the interests of the Compauy. It was then proposed and carried that the report as read be adopted. The next resolution was as follows : — "That in the opinion of this meeting it is desirable that a more efficient company should be formed for the working of the Long wood "Water Race and Ground Sluicing Company, to effect which the Directors are hereby empowered to dispose of the Race and other property of the company by auction or otherwise, after duly advertising the same for a period of six weeks," and, on being put, was also carried. The meeting then adjourned with a vote of thanks to the chairman.