14
On Friday, the 28th ult., an extraordinary general meeting of shareholders in connection with the above Company was held at the Company's Office, the following being the busi-
ness:
THE HONGKONG WEEKLY PRESS AND
STAR FERRY COMPANY, LIMITED. tigations made by our new managor, Mr. M. Bennecke. Mr. Waters, our late manager, told you directly after assuming charge that the mines at Mount Macdonald offered little prospect of giving paying results unless the company were prepared to spend large sums in sinking." Well, gentlemen, we decided to sink a deeper shaft, 1.-To consider and if thought fit approve to go down some 500 feet, and instructions were the draft New Regulations which will be sub-sent down to that effect. These were only par- mitted to the meeting and in the event of tially carried out, for Mr. Best seems soon to the approval thereof with or without modi- have been convinced of the hopelessness of the fications or alterations.
Mount Macdonold Mines yielding favourable 2. To consider and if thought fit to pass a results, and he turned his attention to a Resolution to the effect" that the New Regula mine at Gospel Oak. That speculation, un- tions already approved by this Meeting and authorised by the Board, also turned out disas- for the purpose of identification subscribed trously, and when we found Mr. Best had parted by the Chairman thereof, be and the same with Mr. Waters we telegraphed peremptory are Hereby approved, and that such Regula instructions for the suspension of further written tions be and the same are hereby adopted operations pending receipt of our
instructions. Mr. Bennecke was thereupon as the Regulations thereof.
Mr. P. Sachse presided, and there were also appointed to take over charge from Mr. Best, present Messrs. J. A. Mackay (director,) E. and he was instructed to make a full and unvar- Osborne (secretary), G. C. Moxon, A. J. Ray-nished statement of the position of affairs and mond, R. C. Wilcox, D. M. Moses, G. Murray the prospects of the rival mines offered to the Bain, T. H. Reid, J. P. Modar, J. Hooper, company by which, it was urged, their plant H. P. Wadman, and Dorabjee Nowrojes. and battery could be profitably employed. The SECRETARY read the notice convening These reports, gentlemen, have reached us, the meeting.
and are now open to the inspection of all the shareholders. They are too lengthy for me to read here, and if I did read them I think you would be unable to come to any decision upon the future of the company without much fuller consideration than would be given here and now.
37
It has therefore been
The CHAIRMAN said-The business to be transacted at this meeting is of a purely formal character, viz, to consider and if approved pass a new set of Articles of Association. The ex- isting Articles were prepared somewhat hur- riedly at the time the Company was formed, and are consequently not so complete or convenient deemed advisable to invite shareholders to come as it is desirable they should be, and they have to this office and read these reports carefully, therefore been amplified and revised in accor- and we than propose to call an extraordinary dance with the latest local pattern. There is, meeting, at which the decision of the share- however, no alteration in them of any conse-holders will be asked as to whether they elect quence, and so I will not detain you by referring to make an offer to the owners of the Sunny to them in detail, though if any shareholder desires information on any particular point I shall be happy to give it.
[January 5, 1901
The CHAIRMAN--That was a small second- hand battery that ho purchased, but I believe it can be realised,
Mr. LAMBOTTE He is to try to sell it. The CHAIRMAN However, these questions would be better to be held over till next meet- ing.
Mr. CARL GEORG-I only ask for the in- formation because they are in the accounts now before the meeting.
The CHAIRMAN-I find the total machinery purchased by Mr. Best was $2,037.23, to be
exact.
Mr. CARL GEORG-Thank you.
Mr: KELLY seconded the motion, which was carried unanimously.
On the motion of Mr. EBIC GEORG, seconded by Mr. KELLY, Messrs. Atzenroth and Denison were re-elected directors.
On the motion of Mr. CABL GEORG, second- ed by Mr. MEHTA, Mr. A. O'D. Gourdin was re-elected auditor.
The CHAIRMAN-That concludes the business of the meeting, gentlemen. Another meeting will be called in January at which we shall be able to come to some decision as to the fatare of the company. I hope that all of you will come to the office and read for yourselves ex2 actly what has been done.
The following is the report presented at the above annual meeting
The Directors bag to submit to the share- holders a statement of accounts for the period ending 30th September, 1900.
A claim taken up by Mr. Best in the Gospel Oak district has, on examination and trial, turned out equally unsatisfactory.
As has been already foreshadowed, the mines have, on further trial by deeper sinking, proved unremunerative, and your directors are reluc tantly compelled to accept the statement of ex- Corner claim, on terms suggested by Mr. Ben-perts, unfortunately only recently offered, that necke-which I may mention are very different the gold in this district is too patchy and the from those asked or whether they will country too hard to admit of mining operations There being no questions the resolution was vots for the voluntary winding up and liqui-paying on a reasonable capital.
That is all that passed, on the motion of the CHAIRMAN, second-dation of the company. ed by Mr. RAYMOND.
occurs to me to say now, and as no good is even by The CHAIRMAN-That is all the business, to be effected by recriminations or gentlemen. Thank you for your attendance..apportionment of blame for the failure of our speculation, I would suggest that gentlemen desiring explanations on any point should apply to the general agents for the same after the meeting. If you agree with me on this point. I will formally propose the adoption of the report and accounts. At the same time, I am ready to answer any questions which the share- holders may have to put, and I trust they will state- confine them to the report laid before them, because I cannot enter upon the reports sent by the new manager. If I were to read them, they would only go in at one ear and out at the other,vited, and it would be impossible for you to retain any idea of them without studying them carefully,
THE GREAT EASTERN AND CALE DONIAN GOLD MINING CO., LD.
A meeting of shareholders in the Great Eastern and Caledonian Gold Mining Co., Ltd., was held 01 Saturday, 29th ult., for the purpose of receiving the final ment of accounts of the liquidator. Mr. were R. C. Wilcox presided, and there also present Messrs. G. Atzenroth, A.-Denison (directors), S. A. Joseph, Carl Georg, J. dos Remedios, J. Anderson, R. M. Mehta, E. S.
Mr. CARL GEORG--Would it not be better Kelly, E. Elias, and L. Lambotte (liquidator.)
The LIQUIDATOR read the notice calling the to print and circulate the reports? It would only be a matter of $20 or $30. By merely meeting.
The CHAIRMAN said:-Gentlemen, the pro-reading through them once I do not see how ceedings of this meeting are purely formal. The any shareholder can retain them in his memory. The CHAIRMAN-I don't think that would liquidator of the old company simply had to
Parts of the reports, I take it over as a going concern, and he has now be advisable. prepared his final statement of accounts, which think, should not be printed. It would be have been laid before you. All that is necessary better, indeed, for all those interested in the in this connection is that it would be passed by mines to come to the office and sea for them. the meeting. I beg to propose, therefore, that the statement of accounts, as presented by the liquidator, be adopted.
Mr. JOSEPH seconded and the motion was carried unanimously,
The CHAIRMAN-This concludes the business of the meeting, as regards the old Company. The annual meeting you must wait for, for a few minutes, to give our friends an opportunity of coming.
ANNUAL MEETING,
The second ordinary general meeting of the shareholders was afterwards held, and, in addi- tion to those already mentioned, there were present Mesra. Erich Georg, White, K. A. Wibel and Liao Tax San, Mr. R. C. Wilcox, Chairman, presided. ・・
The notice convening the meeting having been read,
selves what has been written. There is no good purpose to be answered by printing them, and I fancy it would be a greater expense than you think. It would run nearly to $100.
Mr. CARL GEORG-It will be no use, at this meeting, to speak about the property?
The CHAIRMAN-I think not, Mr. Georg. I think it would be much better to defer these matters until the meeting we are going to call, and then the shareholders can make a final decision as to what they will do. It will rest entirely with them. Though I do not want to influence you in any degree, I think that until these reports have been thoroughly digested, it would be idle to talk about the future of the company.
Mr. CARL GEORG-To what extent has Mr. Best bought new plant for the Gospel Oak mine? Can you tell me that?
The Chairman said Gentlemen: In ac-
The CHAIRMAN-$1,134 it appears in the cordance with usual custom I propose to take account, but there has been $500 written off. the report and statement of accounts as read. It is only a small sum, because we stopped the It is with much regret that your directors have expenditure. to present to you a report so little in accordance Mr. CAEL GEORG It says plant account and with their past hopes and wishes. But you battery account. What does that mean? Has have been prepared for the upshot of the inves- he also bought a new battery ?
Under these circumstances the directors have thought it their duty to write down the value of the mines to what they appear to be worth at the present time.
Mr. Carl Georg's offer to the Company of a mining property adjoining the well-known Paddy Lackey Mines has been carefully consi dered, and Mr. Bennecke has visited and in- spected not only this mine but the mines now being worked there, and his report will be laid before the shareholders in due course, and their decision as to the future of the Company in-
DIRECTORS.
In accordance with the Articles of Association, Messrs. G. Atzenroth and A. Denison retire by rotation, but being eligible offer themselves for re-election.
MANAGEMENT.
The Board have appointed Mr. M. Bennecke as Manager, and he has taken over the properties from Mr. A. W. Best and assumed charge at the mines.
AUDITOR.
The accounts have been audited by Mr. A. O'D. Gourdin, whose re-election is recommended.
R. CHATTERTON WILCOX, Chairman. Hongkong, 24th December, 1900.
BALANCE SHEET FOR THE PERIOD ENDING 30TH SEPTEMBER, 1900.
ASSETS..
account
To property, cost of estate and building To Hongkong and Shanghai Bank current To Union Bank of Sydney To furniture To live stook..
To mine stores...
To machinery, plant and tools
To Great Eastern main shaft To Caledonian main shaft To Zuln main shaft........ To Bank of England shaft To Rise and Shine shaft To prospecting shaft To dam account
To Gospel Oak plant account
To Gospel Oak battery account To printing and stationery
To balance.
12,255.85
9,659.71
8,290.41
1,500,0
$200,00 400,000.00
1,500.00
1,000.00
050.70
$1,000,00
1,000.00
1,000,00
500,00
898.06
500,00
100.00
100,00
952,193,49
$432,646.16