MEETING OF THE BASS ROCK G.M. CO. AT AUCKLAND.

Thames Guardian and Mining Record, Volume I, Issue 190, 18 May 1872, Page 3

MEETING OF THE BASS ROCK G.M. CO. AT AUCKLAND.

STORMY MEETING. (from our own correspondent.) An extraordinary meeting of the shareholders of the Bass Rock G.M. Co. was held yesterday afternoon in the Queensferry Hotel, Vulcan Lane. Captain Beveridge was voted to the chair.—The Chairman explained that the companies around where the Bass Rock was situated had been wound-up, such as the Golden Lion, be thought this ground stood, in a pood position, and were the calls paid up the work could be resumed with fair prospects of success. Messenger’s claim, which was near this claim, was now looked on with favour. —The Secretary read the financial statement of the company, which showed that the assets of the company, including overdue calls and unpaid-up capital, amounted to £1,670 4s lOd, and the liabilities, £3l Bs, leaving a balance of assets of £1,644 16s lOd. —Mr Friend made a keen attack on the past management of the company, and spoke in anything but a complimentary manner of the way the price of shsres had been raised to 12s 6d each, and how the manager and directors had neglected their duties. He threatened to bring the whole affairs of the company before a Court of Law, by laying an information for conspiracy to defraud. He said they had him under a fine of £5 per share since the first day of this month, and that the Government could step in immediately and take possession of the ground, in consequence of the way the terms of the lease had been violated by the directors and the manager. He concluded by moving “That the lease shall be surrendered at once to some gentlemen at the present meeting.”—The legal manager made an explanation showing that Mr. Fiiend’s statement was not a justified one.—Mr Fleming followed with a few remarks, and stated that great blame was due to some one. He was fully of opinion that a change must take place for the benefit of the shareholders. A little energy thrown into the management of the Company might be of great benefit to all connected with tho Company.—Mr Friend replied to remarks made by several speakers, and asserted that he could prove conspiracy in this case by the telegrams and other ways. He referred to the way the Golden Lion Company had managed its affairs, and stated that he was about to take proceedings against ..hem in Supreme Court, and got 50 additional shares to cause him to stop proceedings. He had the transfer in his pocket.—The Chair-

man accused Mr Friend of meanness and want of moral courage for taking a sop of 50 shares to pr.-vent him exposing the affairs of the company. He was sure he would nev@r have the same chance of extracting 50 additional shares in the Bass Company.—Mr Leers moved, “ That Messrs John Gray, H. Fugate, Friend, and Fleming be elected as directors.’’—Mr Friend opposed, .and. asserted that the ground of the company tvas at present iu jeopardy. He had been asked yesterday for £3O to enable a certain party to go and jump the ground. He would never subject himself to pay a fine of £5 a day for a neglect which he had not been guilty of. He refused to do anything until a transfer of the lease was made.—After some further discussion the motion was seconded and carried —A vote of thanks to the Chairman terminated the business of the meeting.