MINING COMPANY MEETING.

Thames Star, Volume VII, Issue 2645, 30 June 1877, Page 3

MINING COMPANY MEETING.

Smile of Fortune G.M.C. (Owhaboa.) An extraordinary meeting of the shareholders in the above company was held last evening at their registered office, Queen street. A majority of shareholders attended, both personally and by proxy, representing 7220 shares., The manager, Mr Horsbrugh, having'read the notice calling the meeting, Mr Porter was voted to the chair. Mr Lee moved, and Mr ■ Wiseman seconded—"That the action of' the directors in the purchase and leasing of the Owharoa battery be confirmed." Carried. Ifc was then explained by the Chairman that the directors had agreed to purchase from Mr Perry one half the battery for the sum of £300 and 1080 ■hares,, and to lease the other half at a royalty, of 2s 6d per ton for all stuff going through. The Chairman also stated to the meeting that some repairs to the water race, which would cost about £50 or so, would be needed to start the battery. It was proposed to work the No. 2 reef, proved to be worth an ounce and over to the ton, and which was pretty well developed to commence operations thereon. There were other reefs in the mine, perhaps not so good, but would pay well enough on being crushed by the Company's battery. It was also moved by Mr Wiseman, and seconded by Mr Pearce—" That the working of the mine be left to the directors* either by tribute, partly or wholly, or in such other way as shall seem most advantageous." Carried. A yote of thanks to the chair terminated the proceedings.