The Express.
London, England, 1855-03-31 00:00:00

AGUA FRIA GOLD MINING COMPANY.

Yesterday an extraordina•y gen.rel meetirg of the share-
holders van held at the London l'arera—T. 11.aeLam, Esq., la
the chair.

-The CUAIRNAN said that the object of calling the ehareholder•
together was to submit to them the revert of the directors on the pie.
sent position and proapi•cts of the antit•rtaiing; and alto to twofer as
to the most advinebo steps to bo taken for ?stein& the capital te.
piked for effectively carrying ea the operations of the mine.
The 811CLLTARY then read the report, an abstract of which ap.
peered in the Deily News of Wednredoy.
The CIiAIRMALL In reeving the adoutlennf thereport, mid that the
directors kit as great dineppointrnent as any one prs.eut mold in
laying before the shareholders the prevent report. There could he
no doubt that those et the mine bed taken ton sanguine • view-of
the yield of the undertaking In the Bret inetanee. The Mdse t
those In California bad led toe .nitoine tames in those at IL 41111. li•"Z
not wieh Cu arouse sanguine hopes, but at the some Use he 61=
t veatually the venture would pay a handoom to e retorts the
holders. If the dirt-eters, entet Minot a different minion, they
not lienitotte to recommend the immediate winding up of the
ors. borne rehired were übutined from crushing fur other. Pg.
ties. A letter had just been received limo hair melt :at
the mine, noting that • peat deal had been dune lately
by the 6:moony's machinery, it would be ricerwary that at
least 10,0001. should be nomemately reined. A eall of Oa per share
would be ample to meet the ocoersoty. It Wee, therefere, ler the
shareholder*, to consider whether they wound raise this sum se allhor
• property of such intrinsic solue to paw tram thins, which would
inevitably be the moth it the 'ebb incurred wean not paid. It was
the opinion of the dirtetors that the better oleo of raising the re.
quilted sum would be by debentures. (liner, hear.)
Mr. Howson regretted that the dtreetors had taken en gloomy •
view of the thumetal Mate of the ohnipsey. He par,icelarly ear.
pained of the allusion made to wending up the compaoy or domed:eel
of the property. At the last meeting there mieriaisted in; Ott shame
undisposed of, and tribes. ware seat mm the tionket they would
recline at leant it,eoof. (No, no.) There wan also 9 mor, at the
banker., while the debt due cy the company only ennui, at to ~.bout
tioutd., including the 3,01) 1. which the din-mono hod no kindly ad-
vanced. Ile therefore lisped that the part of the report referred to
might be modified.
Mr. CLAY caul deed that the part of the report which appeared im
objeuilonahle to the hon. etturthokier war, nivertheitso, strictly true.
There were but the two ai•ernativre—et, her to rune. money at once or
to wind up tin it affairs. Übe fact was that, in odditton to the debt
which had been alluded to by the chearmse, Mr. Hepburn, in order
nut to stop the working of the mine, latti tauten up n himself to draw
furs connidetehle amount, which woulu become out IN the month of
May. Mr. lit Oruro bad, ice thought, in so doing. and a wise diners.
tion, for bail he not done No he must have nolo the hatchinery tamest
demands upon him. (Hear, hear.) It might be that his ignorance
of engineering wan the mule of his am formeeing the probable
amount that would be required. The 16,060 share. which bad been
allotted to could not be deposed of, as there won wow claim upon
them. Bolden which Meier,. Palmer. Cook, and Co. had a moths.
; gent interest in them, sun, until that was satisfied, the directors were
not in • poeioon taffeta*. of the shares.
Mr. CONTIIIARK wished to know whither trocredingre in Chancery
• had been token to ncuver one.fourth of the 16,0uonhat re alluded to.
( Mr. Curti...id that • claim was put in by Mr. Woman. The
question with them was, d d not Mirern. Palmer and Cooled claim
take precedence; then had acted upon the very best advice in realm..
log the claim. He would say to more upon the eubjcat, as were he
to enter tutu detail it • ight damage the company. (Hear, hear.)
He would only add that, at the very worst, .the company would only
be called open to pay dividends on 4,00 more shores than they paid
upon at present.
A desultory conversation took place upon thin point, and also as to
the propriety of appointing a corunnt•to to center with the directors
upon the company's affairs; after which the report was unani.
mouldy of pled.
, Thermo:et:one will be found in oar advertising columns.
Mr. Cute had before him already • list of eubeeriptiono for deben-
i tura, animating to ;ON, and he boa no doubt the sum required
would Le No roily forthemeong. Lent year the mine bad yielded
t about 4,0*:0 ounces of gold, watch produced 4,0001. profit. This sum
was used by Mr. Aneroid in perfecting tho works.
(notate :•'INCLAIR, who bad personally inspected the working of
the [WSW, nom eked that one cheering part of the repo* was, that it
co-arly shoot ti that, while their profits Increased, the expeuce de-
tteased. (ltter, bear.)
The reeolutioo was carried sees.. eon., and a cordial vote of thanks
wan wino to the chairman arid di.eettall.