CLARK'S HILL PROSPECTING COMPANY (LIMITED.)

Tuapeka Times, Volume VII, Issue 338, 14 March 1874, Page 2

CLARK'S HILL PROSPECTING COMPANY (LIMITED.)

The adjourned annual meeting of the above company was held at the Victoria Hotel on Thursday evening, March 12. Mr. Jonas Harrop occupied the Chair. There were present eight shareholders representing 1743 shares. The minutes of general meeting of March 4th were read and confirmed, and th« rules passed thereat read and adopted. The retiring directors presented their report for the past year, and a statement of receipts and expenditure. Mr. H. L. Squires reported that on behalf of the holders of mining leases on the line of the quartz reefs he had waited upon the G-oldfields Secretary of Dunedin. All the leaseholders had received notices requesting them to execute their leases, and pay up back-rent due. They had determined to allow the leases to be cancelled, unless the Government would suspend action pending the completion of the prospecting now being done by the Clark's Hill Prospecting Co. Mr. Bastings had promised to 6tay in the meantime, any action as regards cancellation of the leases. Mr. J. C. Brown, M.H.R., explained the action that had been taken by the Company towards obtaining n subsidy from the Provincial Government. Some misapprehension had been caused through the Executive having misconstrued some information given them by Captain Hutton who seemed to think that the subsidy had been asked to prospect for the G-abriels Quartz Reef. The Company's application for a subsidy had been made subsequent to the line of the quartz reef being passed. The balance sheet showed that, of the deposit call of 25., and eight subsequent calls the fund of £21 10s. remained unpaid— £2o. 5 of which was due from two shareholders holding conjointly 40 shares. Dr. — To calls, £1117 5s ; profit on alluvial claim, £30 6s. 4d; miscellaneous receipts, 12s 6d j balance, £70 5s 4d.;— 1218 9a 2d. Or.— By contracts for excavation, £935 8s 2d ; plant, trucks, timber, piping, tools, iron, ' steel, &c., £163 3s 6d.; management, £53 15s. Registration, legal advertising, stamps, stationery &c, £20256 d.; purchase Traye's lease, £35; refund deposit call to Messrs.' Barton and Sanders, £10.— £1218 9s 2d.