MEETING OF SHAREHOLDERS.

Thames Guardian and Mining Record, Volume I, Issue 147, 29 March 1872, Page 3

MEETING OF SHAREHOLDERS.

UNICORN GOLDMINING COMPANY. The animal general meeting of the above company was held at the Governor Bowen, last night, and was attended by a good number of shareholders, representing a large majority of shares. The directors’ report was read, and adopted unanimously. It showed the various works done, and wan approved of by the meeting. A mining report, made by Messrs Lessong and Buscke, was also read, and discussed by the meeting. The following financial statement was read, and. being properly audited, was adopted unanimously.— Balance-sheet—Dr.: To uncalled capital, £7,585; Bank of Australasia. £3 17s; balance of No. 2 call yet unpaid, £3 15s ; balance of No. 3 call unpaid to date, £25 3s ; 120 shares forfeited for non-payment of calls, £9 ; cash in hand, £2 18s lOd ; amount expended on mine in excess of receipts from gold and tributes, £570 Gs 2d ; total, £8,200. Cr.: By capital account, £8,200. Profit and loss account Dr.: To preliminary expenses, formation of company, miners’ rights, advertising, &c., £7B 3s 7d; to working expenses, wages, contract work, and battery expenses, £555 19s 7d. Total —£034 3s 2d. To profit and loss new account, £720 Gs 2d ; Cr. by profit on tribute No. 1,19 sGd; by profit on tribute No. 2, £53 7s; gold account, £9 10s Gd ; balance to profit and loss new account, £570 Gs 2d. Total—£G34 3s 2d. Audited and found correct (Signed) W. L. Buscke. After this part of the business had been concluded, a discussion arose as to the Directors being allowed to let part or parts of the mine on tribute. Mr Campbell proposed “That the Directors he not allowed to let any part of the mine on tribute without first calling an extraordinary meeting and obtaining the consent of the majority of the shareholders.” This motion was seconded by one of the shareholders.—A long discussion took place, in which a number of those present took part, the general feeling being that the Directors who hold fully half the mine, should be allowed to act on their discretion, and that it would only put the company to an unnecessary expense to have to call an extraordinary meeting for the purpose. They thought that if the tributes were put up to public tender the interests of the shareholders would be fully consulted. The motion was put and lost, only two hands being held up in its favour, those of the proposer and seconder. Votes of thanks were passed to the chairman and to the legal manager for the able way in which he had looked after the interests of the company.