MEETINGS OF GOLD MINE COMPANIES.

Te Aroha News, Volume II, Issue 78, 29 November 1884, Page 6

MEETINGS OF GOLD MINE COMPANIES.

Dakwtn G.M. Company. — The annual mooting of tho shareholdoi'S of this Company was held at 3 o'clock yestorday afternoon, Mr W. J. Ilurst presiding. The directors' report stated that complete maehinoiy, shaft 240 ieet deep, crosscut tunnel I*2o foot, and other works required to develop tho mine wore now in perfoct order. Opoiations had been commenced on the hanging-wall of the main lode, being that from which tho Cambria is obtaining such gratifying returns. Tho mine manager had leported under date 22nd instant Iviving diivon 11! foot on the lodo, which is ',) feet wide, with several snvtll stiingevs in which colouis of gold are frequently soon. The directors had strong grounds for concluding that when a winze Mas sunk a convenient distance from tho boundary, the • lip of tho Cumbria gold would be found. Ai rangemonts had been made with the C.imbna Company lor working the mine tioni iho Darswn shaft, with use of machinery. Tho Company was in a sound luianoial position, crushing wa*> about to bo resumed, and 600 shares lemainori on hand for disposal. The balance-sheet was as follows: — Keceipts : Cash and other sources, L4l l 4s i)d ; rails, L 1.7:52. 7:52 10s; gold, LGS 2-* (id ; (olal, L' 2,211 I7^d. IHsbur-emcnts: Wages, L1,:i07 v's 7d ; charges, LS'M) Is Id ; other payments, Lo'27 Ms Ud ; cash in Bank oi i\e\v Zealand, LIG Ms lOd ; total, L 2.211 17^ .Sd. Both leport and balance sheet weie adopied, Mossis (Jcoigo Fiabcr and .lames Dickey re-olected directois, and Mr .J. Waymouth re-appointed auditor. London' (I.M. Co. — An oxtraoidinary meeting of the shareholders of tho above Company was held this morning, about a do/en shaioholdois being present. — Mr .), I). JNJoi potli, who picsided, explained that the object lor which it had been convened Mas to consider the ilo.sii ability oi voluntaiily winding up the Company, and oi di^])o-ing of its property to a now and laiger concern which was about to be foiined. Tho bimplo explanation of the dilhculty was that they weie in debt, and coukl not- get along. Still, c\on it' the^v were clear ol their deW>, they would not be able to continuo woiking, in conse(juencc of tho action of other ]-)eisons interested in the shaft. It had there foie been thought bettor to loi m a new company embracing all these diveisc interests, and cany the slritt down some hundred feet fiuthcr. The mine would lealise enough to pay ofl'all their debts. In fact, if it were transferred to him ho would at once give a chequo for the full amount ol the debts.— lt Avas then resolved, upon the motion oi Mr A. Saundci.s, seconded by Mr James Macfarlane, that the Company should be voluntarily wound up, and it wa.s fuithcr agreed, upon the motion of Mr -James Macfailane, seconded by Mr Carrick, that thcdirectois should -ell the propcity of the Company. — Mr I). J. McDonnell was appointed liquidator. MuuN'i.u — A meeting of the Manner (i.M. Company was held at Mr. l. B. Moipeth's oihee to day, when it was decided to wind up the Company, and tho diiectors were authorised to sell the property. The Marinei, and al>o the London Companys have been sold to a syndicate, and a new c >mp<inv i' s to i>e 4arted undei the title of the >Sa\i.iu.