MEETING OF SHAREHOLDERS.

Thames Guardian and Mining Record, Volume I, Issue 251, 29 July 1872, Page 3

MEETING OF SHAREHOLDERS.

INVERNESS GOLDMINING COMPANY. The annual general meeting of the shareholders of the above company was held in the hall of the Insurance Buildings yesterday afternoon, at 3 o’clock. There were not many shareholders present. — After the advertisement calling the meeting had been read, the secretary read the balance-sheet for the past year. It appeared that the working expenses had amounted to £3,GGG 14s 6d. The loss on the year’s operations was set down at £1,166 5s 6d, aud the balance at debit of profit and loss account was stated to be £B4l 13s sd, making a total of £2,007 18s lid. The mine manager’s report was then read, in which the various details of the workings were described, the lay of the different lodes, and the prospect there was of several of the lodes becoming more auriferous as the surface was reached. The directors’ report was next read. On the motiou of the Chairman, seconded by Mr G. B. Owen, the balancesheet and reports were adopted.—ln reply to a question by Colonel Balneavi» t the manager stated that during crushings the mine manager aud battery tnauager were mutual checks upou each other as to the quantity of gold obtained. The same

system was adopted in all the other claims.—Several shareholders expressed themselves to the effect that this was an unsatisfactory system ; but there was no apparent way out of the difficulty but by paying directors to attend when the emshiugs were going on, which it was considered not advisable to do in tiie present position of the company.—The meeting then proceeded to tlie election of directors in the room of those retiring.— On the motion of Mr G. B. Owen, seconded by Mr Browne, Dr Dickson and Mr ' Howard were elected directors.—Mr C. Alexander was appointed auditor for the ensuing year.—This ended the business of the annual meeting.—The meeting then resolved itself into an extraordinary me' ting to consider the disposal of the forfeited shares. There were 115 shares forfeited, upon which a sum of £ll 163 9d was due for calls and expenses upon the same. As there was not a majority in number and value of the shareholders present, which was required to make the business done at extraordinary meetings legal, the shares remained in the same condition as before.—ln reply to a question by a shareholder, Mr T. L. White replied that the shares had been legally forfeited.—A vote of thanks to the Chairman terminated the meeting.— Cross.