Masterton Coal Prospecting Association.

Wairarapa Daily Times, Volume X, Issue 3149, 9 March 1889, Page 2

Masterton Coal Prospecting Association.

A general meeting of the ton Coal Prospecting- Association <?•', held in the Oddfellows' Hull . onUJgp Friday evening, eight ■ being present, '■■ voted to the chair. Av letter was'. ;: read from Mr J.. lorns, ono' of the •;,. .-• Directors, expressing regret at his' •">};;;. unavoidable absence,' and recommend- '"'ii? ing that the Company be wound[up. The minutes of the previous meeting ;.;, 1 wero read and confirmed, arid v Secretary read a statement of receipts 0 ;"* f and expenditure as follows i^lix^: ; ;i penditiire, £Bl Us 9d : ; receipts, £Wfi,/: 10s; Liabilities (outstanding accounts) ',. i £531253 d; calls outstanding,,£32 :,: ;'. 10s. The Secretary (Mr Eton) could 7 ;". advise nothing else' than the'winding'" ; -.''.;. up of the Company, ail' from tbefirst; > they'had met with nothing but' ,> rebuffs.- The plant was not effective,.', the parts upon which the most' ' depended being made of -east iron instead of wrought iron.In answer to tbo Chairman, Mr ...\ Sullivan, the man at present in. '"< charge of the diamond drill, said .that "'': after 90ft tbo drill had been going / through loose gravel and sand, A sulphuric smell was distinctly noticeable. About 20ft of piping had got jammed in the boring hole, and jk '. would req'uira horse powerto get it' i out, The drill had reached a depth. "' oflßofeet. ' •'"'■-""•iie . In moving tbat'the Company jvirid * up Mr Hathaway said that the qual-' l[ ity of the ground througlrwhich'tgjl.;' drill had passed was'not sufficient!* ■ encouraging, and that should "they ■;'"■; mab another trial there was very little'cap.ital left to goand comejupon. In seconding tho-motion Mr Eton said that, thero was a deal ofdiffi-. / culty in getting in calls, He was ; V afraid the,deficiency would b« greater; on account of tho trouble of recover--' ing the piping, . "-:" Mr J, J. Smith considered that they had not given it a fair trial yet, ,' having only gone'lSOfe. His firm' were large shareholders,: aiidtbay ."'■' would like to see something for.their, \. money, ;' ''' ;•--..;

After soma 'further'.discussion Mr',':-, Fatkaway withdrew his. ; former/\! motion and moved: That . : stand in abeyance until the reoovory ! :';' of the diilh ;■■ '/,.-.. ■/:-.- l f '."'..: The motion was .seconded'.'and ,: carried and the meeting' adjournpd until Friday, 15th inst.' . ,■■;;, T