The Express.
London, England, 1853-11-18 00:00:00

A ATIONAL BRAZILIAN .VINING COMPANY.

Yesterday the adjourned meeting to receive t;
report of the committee a; pointed by the sharchuldeis was
held at the Lundun T Mr. JOSIAH BAT IS occupied
the chair, and read a lellgthrEt3 statement, the effect of
which was to 'how that the committee entered upon their
Malts with • determination, if possible, to promote a good
sande:standing with Mr. Oxenford, the only rstviviog di-
rector and trustee, whose practical experience they hoped
would assist them I. devising such plans fir the future
management of the company as would ensure the meows-
time and confidence of the shareholder', and at dre mina
time contribute to extricate the company from its premit
diffi-ultios. In order that the fullest information be
obtained. this committee addressed a letter to Mr. Washed,
sad la reply • statement was recoiled latish led Its heirs
emempoodenco, but the result being at es meelleihelm
nature, the committee decided to ebonies all aSahi asr
stuakation with Mr. Oxenfordp and wait for the m•
awed report. That report, after a protracted de,
was now in the hands of the shareholder', and as they
won competent to form their own opinions as to its
merits, the committee did not teal called upon to reply to it
is detail. They could not, however, refraia from saying
that the financial statements were very partial and swede-
factory. The committee were of opinion that Mr. Ones-
feed, whilst contending for sympathy with hie own positive,
sofairly disregarded the rights of the shateholden, sod
they believed the drain of the company would have been
is • much more satisfactory condition bad half-yearly
meetings been regularly held, as was the ease in all other
companies. The committee considered that the propriotme '
osght to have been consulted before the large amount of
debt' which now prowl upon the undertakthg h. 4 been
Immured, and they could not hold Mr. Oseaford hinges,
in mud to thole liabilities. as if a moderate degree of
capital had been obtained from the shareholders, the prodsee
from the mines would have been considerably Increased, sad
as his way the accumulation of debt would have been pre-
vested. in resigning the trust imposed ems them the
committee would, in conclusion, strongly reammead the
ahembelders to co-operate for the purpose of improving
their polities. They entertained the laighmt opinion of the
tatriasis value of the property belonging to the association,
and they Mt thet the interests of the shareholders were
lobs enteliseil he want of • *seem amusement at home.
It me le be deplored that limpertent mining operations
shedil be Impeded for want of sham expenditure in me-
ehemied labour. The emesnlitee were aware that in the
peasant poshisa d themsemysediet it would be difficult to
ObilliS ate Wee emenat of loopiest for the purpcse of
doosimig the romenis of the mines to the extent which
Seek Istisernes isoutisi. They would therefore confine
Iffinkeeeeneeentintiem tikes! toeeti!l oet twenty

Milk& adman amid ineelianiii. If this simple plan wee;
tZ:d tho ememittee believed that ere long they would
as moist of success which would c.ntribute to
7110/ the sampeapesy firmepert its present esabarramment to a sate
al
weaparative ty.
It Irma a financial statement that the amount
paid lan properties beloagiog to the company was 101,3001.
TM mem' of gold received from the mines since the (ar-
mistice of the association, 108,4331. 16s. 10‘1., and the
aseast of debt dee by the association, 33,000/.
The report was ado ed, and a brief discussion took place,
which ended I. ther:zopt ltion of a resolution declaring that
the property by the emaciation was eaceeitiogly,
mad t tit would warrant the introdottion of
farther capital. It wee also resolved that a committee be
app.:meted, and that they be authorised to obtain legal ad-
ase to the rights of the shareholders, and totake the
wometary steps to enforce them, and to report the result at
a (stare seetiag.—The basis'm then terminated.