MEETING OF SHAREHOLDERS.

Thames Guardian and Mining Record, Volume I, Issue 197, 27 May 1872, Page 3

MEETING OF SHAREHOLDERS.

An extraordinary general meeting of the shareholders of the Vulcan Goldmining Company was held on Saturday afternoon in tiie Hall of the Mechanics’ Institute building. Queen street, Gi'uhamstown. There were not many shareholders present, though a large number were represented by proxies. Mr U. S. Leager was called totliechair, aud said that he understood that the meeting had been called for the purpose of legalising an increase of the capital of the tiumpary which had lx-en made lately, but which had been found on a first-class legal opinion to have been improperly made.

The following resolutions were then proposed and carried : Ist. “That the resolution as to an increase of capital passsed at the extraordinary meeting held on the 10th of January last be rescinded.” 2nd. “ That the capital of the company, which now consists of 800 shares of £2 each, of which £1 18s 6d is paid up, be increased by the issue of 7200 new shares of £2 each, of which £1 lUs shall be considered as paid up, leaving the sum of 10s per share availanle for calls; the new shares to be allotted pro ratato each of the present shareholders who shall signify in writing their acceptance, and pay a deposit of Is per share on or before the 25th day of June next. Any shares not taken up by that time to belong to the company, the directors being empowered to dispose of them to the best advantage, or to keep them in reserve as they may consider best for the interest of the company.” 3rd. “ That the following amendments be made in the rules of this company : Rule 1. 1 The qualification of directors he 100 shares in place of 10.’ Rule 64. ‘ The. limit of any call to be one shilling instead of five shillings.’ ” We take the following extracts from the report of the mine manager, which was laid on the table for the information of the shareholders This reef (No. 1) gives four tons of quarts to each lineal foot driven (seven feet in height) and is hard cased, so the distance we have as yet driven on it is but limited, being but 15 feet east from the main drive or tunnel. This would leave us 45 or 50 feet further to drive before we came under where we got gold at higher levels. I therefore feel more sanguine that better stone will be got as we drive in this direction. The specimen reef lies behind the large reef, a distance of 137 feet; of this distance, and past the large reef, there is now driven 58 feet, leaving 79 feet yet to drive before cutting the specimen reef, the driving coming in more hard than usual. Meantime crushing will be resumed from the large reef, and before long, our dead works of six months’ duration accomplished, when better prospects, 1 hope, will be in store for a long time to come.—l am, sirs, William B. Henderson. “ May 34, 1872.”