COLIBAN HOLDING.

Te Aroha News, Volume VII, Issue 457, 26 March 1890, Page 4

COLIBAN HOLDING.

MEETING OF SHAREHOLDERS. Auckland, March 22. A meeting of shareholders in the Coliban licensed holding took place yesterday afternoon, in the Chamber of Commerce, when fourteen gentlemen were present. Mr Hugh Pampbell presided. Repots were read from the mine pianager, and also from Mr T. Dryer, mining surveyor. The lattpr stated that the holding Had an area of 7 acres 3 roods and 24 perches. It is bounded by the Freedom mine and adjacent to the Reuben Parr. Numbers of reefs traverse the ground, notably the Sons of Freedom and the Hallers reefs. Here commended that a loty level should be put in 210 feet, and the drive on the Brunswick reef should be put in 180 feet, also a winze of 160 feet to communicate between the two. He considered that by tha erection* of an aerial tramway at a cost of £BOO, the mine might be worked so as to pay a weekly profit of £lO4 from crushing low grade ore, whilst there would always be a chance of encountering fresh payable reefs.

The tender of Kneebone and party was accepted at 12s for driving 100 feet. The following gentlemen were appointed a committee of management Messrs D. H. Luek, A. Kidd, F. Hull, F. Weston and Barnes. Mr D. B. McDonald was appointed Secretary of the mine.