ALBION COAL COMPANY.

Westport Times, Volume VII, Issue 1093, 29 July 1873, Page 2

ALBION COAL COMPANY.

As presenting points of special interest to the Westport shareholders we publish a reswM of the principal business transacted at the meeting of delegates recently held at Nelson • The first meeting Was held on the 16th instant, present* Messrs G. T. Brodrick, B* Garlick, G. Falla, Acton B. Adams* andAlex. Sclanders. A report from Mr E. Beetham > managing director, was read and rei ceived. It was resolved that the lessees of the mine should be paid £ISOO on handing over the transfer of the lease of the property and all plant belonging thereto. The Albion Coal Company undertaking to pay the lessees the balance of £IOOO out of the first moneys accruing by calls ot? otherwise, within three months from date. Eesolved that the Board make a Call of five shillings per share payable Oil Ist September. The following gentlemen were elected first directors of the Company:— - Messrs Oliver, Brodrick, Turnbull, and W. Larnach of Dunedin * G> Gould of Christchurch; John Henderson of Wellington j Sir David Munro, and W. Acton B ; Adams of Nelso. Albert Beetham and F, Howward Auckland; and Dr, Sftnuel The and George Falla of Westport; Mr Albert Beetham Was appoint*. Managing Director for the ensiling' six months. The registered office of the company to be at Nelson for the first six months, at the office of Messrs Morrison, Sclanders and Co* The Bank of New Zealand be bankers for the Company. Messrs Adams and Kingdon to be solicitors. The appointment of Working manager to be left to Mr Beetham'S discretion. Enquiries to be made for the pur* pose of chartering or purchasing a suitable steamer, the Board to borrow money to complete the purchase if required. The present stock of coals belonging to the lessees to be purchased from them for £25 The Solicitor, upon completion of transfer, to telegraph to Mr M'Nairn, to take and hold possession of the mine, plant, stock <fec., on behalf of the Company. Upon the incorporation of the Company, five hundred scrip, two pounds paid up, to be made out and handed to Messrs Field, Thorpe, and others, in fulfilment of the purchase from them.

Mr Alex. Sclanders to be Secretary for the first six months.

The Secretary to request each of the company's agents to advertise and collect calls.

The Manager, Mr A. Beetham, to hold in trust the two prospecting licenses until the incorporation of the company. Application to be made to the Provincial Government to lay off a town* ship on the south side of the Ngaka* whau river, for the use of miners and others.

By-laws were adopted and will be published hereafter. «,