The Express.
London, England, 1852-09-30 00:00:00

THE LIGUANF.A MINING COMPANY.

Yesterday an extraordinary general meeting of
the shareholders in the above company wu held at the
office, in Moorgate•strert ; Mr. GAUDINIIR in the chair.
The notice convening the meeting was then read.
The CHAIRMAN then read the following circular issued
Ly the A"notte Bay Company:
The directors have convened a meeting of the share-
holders fur the 29th inst., which although nominally for
the purpose of dissolving the company, is actually to amal-
gamate and consolidate it with the Ligusnea Company, the
tam. and covilitions of which are es tonne :
I. The Lignanca Company to rules an additional capital
of 12,000 f. by the issue of 12,000 shares of the nominal value
of L, each.

" 2. The Annette Bay Company to be dissolved.
" J. Bach Annotte Bay shareholder who shall have ctta
exted the dad of settlement of that company ea or before
the Wed day of November next, to he entitled to a vapor •
tionate number of the 12,00) additional Lig sharek '
in exclii.oge for an equal number of Anuotto Bay shares,
upon bit executing the Liguanca dctd of settlement, in re-
'Pet of such additional sharer, on or berme the let day of
December next.

"4. Any shareholder in the Annottoßay Company declin-
ing to take his proportion of the additional Liguanea shares
is to be entitled to receive back his proportion of the un-
expended capital of the Annotto Bey Company, after
paying all liabilities up to the 22nd day of November next.
" 6. Such of thy additional Lipman shares as are not
taken by the shareholders in the Aunotto Bay Company
are to be offered at par, pro rot:, to the shareholders in the
berme& Company who shall sign the deed of settlement
on or before the 22nd day of November next.
"6. 1(.11 the additional Liguanea shares are not then
disposed of, the remainder to be sold for the benefit of
the Liguanea Company, if and when the director, shall
think fit.
"7. The old shares end scrip certificates of the Annetta
Bay Company to bo delivered up by each shareholder in
exchange for the new shares in the Liguanea Company.
"8. The Annotto Bay Company. to assign over to the
Lignin's Company, or their nominees, all their Nikkei,
monies, and property of every description, except snob
I gnrount of mosey se the Aonotto Bay Company may have
Ito return to these shareholders who do not take the addi-
trona &hares in the Lig Company.
" The object of the directors in this arrangement is, that
the present Annette Bay and Liguanea Composite may in
future form but one company, without any additional
I capital—while the expenditure will be diminished, and the
general management of the undertaking conducted under
m.e board, sad with one staff of officers. By the deed of
settlement of the Liguanea Company, if any additional
'capital be raised by the issue of new shares, such sham
must, in the fret inetam, be offered to the shareholders of
lases that = ;
and
aas the a paaroposalatlidanditiaraltaseallitaiarig
of 04 Annotto Bay Company with that of the
Company, the offer will be merely mails to the
ellegeholders of the Liguanea Company proforma, In order
Is °amply with the terms of the deed of settlement."
Beyond what the circular set forth, he did not think he
had anything more to do but to propose the resolutions.
This was entirely a meeting of the Lignin's Company ;
therefore all the resolutions must be dependent upon them
decided upon at the meeting of the Aomori* Bay Company.
If any gentlemen had aaything to say they had now an
opportunity. Everyone was prepared to consider the amal-
gamation as favourable to both companies.
Mr. M. MARTIN thought the amalgamation would be ad-
vaatapous to both parties. There would be more unity,
and no rivalry could exist. The interests of both compa-
nies were equal. It would be favourable, loosing at it
with regard to economy, and the terms upon which the
amalgamation would be carried out were also good.
Mr. Viatica considered such amalgamation would work
out the objects of the two aneeiations.
Alter some further remarks in favour of the amalgam'.
tiers, the resolutions were seconded by Mr. Kum, and the
meeting adjourned.

TILE ANNOTTO BAY COMPANY.
This meeting was also held at the company's
sates, for the purpose of considering the resolutions passed
at the meeting of the Liguanta Company ; Mr. OAILDINIM
in the emir.

The advertisement was then read convening the meeting.
The CHAIRMAN said the gentlemen present wen already
aware of the objects of the meeting, and there had at pre.
sent been no dissentient voice to the amalgamation. The
Liguanea meeting bad been held. The chairman then read
the resolutions passed at the Lig sting.
Mr. Virtiso seconded the resolutions.
Mr noon said the amalgamation would be cooducive
to the interest to all concerned. (Hear, hear.)
Mr. &revise considered the information laid before the
meeting very mesgre, for no statement had been made as to
I the relative positions of the companies.
The CHAIRMAN said it had nut been considered netts-
nary to go into details, for they were really nothing more
than had been laid before them at the half-yearly meet-
ings. The positions of both companies were prospective :
they had both got upon lodes, and if anything, that of the
Liaeanea was the best. The Annotto shareholders parted
with nothing, fur they became shareholders in 24,000
shares instead of 12.000 ; and as there would be another
meeting to confirm the resolutions cow passed, opposition
' could then be given.
Mr. Surroo (the company's solicitor), said the amalga-
mation should be agreed to because the deed of settlement
of the Annotto Bay Coloristic would not allow them to
raise additional capital, and if they cut • valuable lode
they would not be able to work it.
Mr. S . was satisfied with the information given ;
be had no factious deals, to oppose it, as it was clearly
shown to be equitable.
Mr. Rintinoon said they would simplify everything by
union, and be had no objection, as a representative of the
Annette Bay Company's shares, to an amalgamation.
The CHAIRMAR said, such was the desire for union, that
if the mail should bring accounts more favourable to our
mine than the other, the amalgamation would still pro-
greea, as almost every one in one company had shares in
the other. The dram for amalgamation came from the
Liguanea shareholders solely from the advantages of the
deed, which would enable them to carry out anything,
whilst the deed of the Annotto 1.3 ty Company was sur-
rounded with difficulties. This resolution VIM tarried by
this company without • dissentient voice.
Colonel Mason said the Annetta Bay shareholders were
in ignorance of the result of Mr. Book's mission.

The CHAIRMAPI said that WAS as 01RiiWOO certainly.
Col. BLANI thought that the Annotto Bay proprietors
ought to have the option of any surplus shuts in the united
SOmpany, and not the holders of Lilt shares, which he
thought was the intention of the resolution.
The CHAIRMAN said that it would only be just to give
that option to the company which made this propoeitiou to
the Annotto hay Company.
Mr. ltinnuovu understood it to be thi►—that no option
Gould he exercised on the shares till every Annotto Be,
shareholder had declared his option on the 72nd November.
when the new deed would include every Annotto Bay
shareholder who had assented.
Colonel Bt. Ash risked when the new deed would be rc•
quired to be signed.
The CHAIRMAN said on th' let of December.
The resolution for amalgamating the two companies,
and the dissolution of the present, was then passed unani-
mously.
The meeting then separated.