The Caledonian and other Mines.

Thames Star, Volume XI, Issue 3488, 28 February 1880, Page 2

The Caledonian and other Mines.

This morning the Mines' Committee of the County Council met at their Chamber?, Pollen street. A letter was read from the auctioneer, Mr Carpenter, stating that Mr Howe had failed to carry oat the condition under which he had purchased the Caledonian mine, that his deposit' money was forfeited and the County were therefore in a position to deal with other parties for the mine. Mr W. fi'owe interviewed the Com* mittee asking (hat further time should ■be allowed him to complete/ the ' purchase, and producing a list of the ! names of the persons who had taken up shares in his new company. Mr Howe offered to pay on next Saturday 5000 shillings, on the following Saturday 15,000 shillings, and the balance of the money in terms of tbe prospectus issued of the New Caledonia": Company. - A long discussion ensued, some of. the: members being of opinion that no further* concession should be made' to Mr ; Bowe,. that his deposit be declared forfeited, and that-negotiations be opened with Mr Stone and other Auckland capitalist! who had signified their intention to treat for' the mines should Mr Rdwe fail in carrying out the: conditions of his purchase." The question whether the deposit paid by Mr Kowe should ' be" returned to ; him, ' as under the circumstance! he had 'done his best, and bis failure was in a measure owing to the combination against, him, was discussed, but no definite conclusion was arrived at on this part of the subject. Mr Hollis.was requested to write to Mr Bowe, stating that having failed to fulfil the conditions of his purchase, the County authorities had come to the conclusion to re-enter into possession of the mine.