CALEDONIAN COMPANY.

Thames Guardian and Mining Record, Volume I, Issue 141, 22 March 1872, Page 3

CALEDONIAN COMPANY.

“Mining. —A letter from Auckland, quoted in the Otayo Daily Times of March 11, says that the Caledonian Company are reported to have in hand over twenty thousand pounds, the accumulations of the last three months added to their old balance ■when the yield began to fall off. Great surprise is expressed at their not declaring a dividend of at least il!j or ;£(.», which, it is thought, they could easily do. The general opinion is that the money is being retained with a view to amalgamation- will), and actively working, the Albion Company, the Caledonian Company have a fino battery of their own, and

% the low price of the shares (£ls) is indicative of the reaction and want of confidence, resulting from the mania of 1871, and the rigging of the sharemarket by which it was attended. From another source, wo hear that the expenses of the company in working its low levels are very heavy, and that the balance in band is much exaggerated. Probably this may be the case, but it is odd that the shareholders and the public should not be in possession of more accurate information. The foregoing paragraph is cut from the Lyttelton times. We reprint it in ordc to show what untruthful and mischievous representations are systematically made by some scribbler in Auckland. No such balance ns that indicated has been held by the company for many months past. The exact sum held from day to day may be ascertained on application at the manager’s oilice. I’here is no secrecy maintained on the subject. 1 lie books are open to all the shareholders. No project for amalgamation with the Albion Company, or any other company, is on foot, nor has such an idea been entertained for many months. The Caledoniaii Company’s cash. balance is now under £IO,OOO, and when it is remembered that there is no more capital to call up, wc are quite sure no reasonable person could expect the division of any part of this sum, the more so if regard is bad to the expensive nature of the works required to test the improved portions of the company’s ground, and to meet engagements undertaken by the company on pumping and battery account. We have taken the trouble to notice this, matter, as the misstatements made and insinuations based upon them are samples of many others of a similar kind sent from Auckland, and circulated in tho South' — Herald.