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London, England, 1826-10-05 00:00:00

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the ground ; and they also instruettd hits to require a perfectly
Itgal title to accompany every part of the property. Before any
answer could be received front Mr. heath to these instructions
Mr. Cochran had arrived in London, and from him the Directors
had received a ropy of a new inventory alit valuation of the pro-
perty, made in the month of September, 1825, by Commissioners
specially atinnimell for that purpose by she Dovernment. This
inventory differed materially from the engine! one, both in the
number and situation of the mines, and in their valitation, which
amounted only to about 442.000dollars,inetead of 1,01K1,0011, which
had been represented as the tninlmttm value of the property, but
iricorrectly, as it now appears, in conacirtence of Sir. Cochran hav-
ing beep misinformed on the sultject. Captain Hacking made the
following communication In the ltirectorsl—" Plenty at the Cerro,
and may be substituted for iron, for many of the purposes of melt-
ing ; the twee are thc black and grey varieties, and may be collected
upon the surface of the ground in considelable quantities."
Mr. Quires, in a letter dated the 2th If April, 1826, says, " I
received communications yesterday from Rano, in which they state
the progress of the actin. These, according to my regulations, re-
lative to the working, will advance admirably, without so much
expense as that whit. t had been incurred up to the day on which I
undertook their superintendence That of Condoreayan, in Colqui.
gilts, is proceeding rapidly, and f hope in a short time to see the
produce, of which I shall thrward you specimens."
The Directors consider themselves Justified, by the preceding
statements, in the favourable opinion they have expressed relative
to the Rank and Adit concern.
On the general affairs of the Company: Mr. Quires writes thus,
under date of the 16th of May. 1016 t—" All the mining specula.
none have, I understand, turned out untsvourably ; and so may
that of Pasco. if there be not regularity and order among the
Agents, Commissioners, do.; but in itself the speculation. is the
most certain and splendid of any in South America..
The Director., have lung since sent out instructions to reduce the
expenditure of the Company to the lowest scale that a due protec.
thin of its interests would allow; and they have repeated these in-
structions in several subsequent letterk in terms of increased
urgency.
lie shed read the balance sheet, by *hick it appeared that the
sum received .on 10.000 shares artmantad to 113,8371. 10s. and
4911/. 184. 6tl. intere.t ; and that the expenditure amounted to
110.9111. :fa. 31.; leaving a balance in hand of 3.3341. 10a. 3d.
The Report further stated. that a prevision for the payment of
22.7101. must be immediately made. And for this purpose,
it will be necessary to call for a further instalment of 5/. per share,
unless the whole of the third instalment should be immediately
paid up, and then a c ill of 21. 104. per share would be sufficient.
t appears from the preceding account that the payments
already made here, on account of money remitted to
and advanced in Peru, amounts to ' . - £50,130
And among the present claims upon the Company there
is a further sum, on the same account, of - 19,"10
Together - 69.340
To this may he added the 5,0001. advanced to 31r. Ro.
bertson, on accounted the Vivas Contract, for which the
Directors have given an order upon Mr. Robertson,
payable in Lima . 5,000

Which will make the whole amount of the cash advanced
in Peru . . . . £74,110

A sum which must have afforded the meting of making a con.
siderable progress ia the operations there—and it may be
added. as an important circumstance in relation to those un.
devotion" that the Government duties have, as the Directors
4-e informed by Mr. Cochran, been lowered from ha to 0 per cent.
since the date of the Government Lease of the Vitas property.
The deficiency occasioned by the forfeited and
other unpaid Shares amounts to . £35,297 10 0
.-----
being the 2d instalment on 2216 forfeited Shares £11.076 0 0
3d 2216 - - 11.076 0 0
31 . 24291 unpaid - 12,147 10 0

.1:34.297 10 0
Notwithstanding. however, the forfeiture of 2,215 shares, the
Directors are still of opinion that if the third instalment be paid on
the remaining 7,785 shares, a further amount of 1 1. per share on
that number, in addition to the three calls already ma Le. will, under
the comparatively reduced scale of experditure which the Direciors
have adopted in Peru, and under the view which Captain Hocking
has taken of the cost of driving the adlts, be sufficient to carry for-
ward the undertakings of the Company to a very beneficial result.
Before the Directors proceeded to declare the 2,215 shares forfeited
on which the second instalment was sot paid, to which thee were
repeatedly and strongly urged by several of the largest Share.
hoiden', they submitted a case to 31r.Shadwell and Mr. Stephen,
as to their power of pursuing that course ; and the opinion of those
gentlemen, after a perusal of, and consultation upon, the deed of
settlement, wan, that the Directors might either compel the pay.
ment of the calls made upon the proprietors, or might declare their
shares forfeited ; neither of which measures will, they trust, again
become necessary. In consequence of the disinclination of many
of them to supply their proportions of the requisite capital when
called for, the Direvors have declin to take upon themselves any
Ponalssi Ileawrieve liehakies. Vie es enema to pay the'
salaries to the persons sent out to Peru 1 and it is from the instal-
ments that the means are tots sapplted for carrying the undertaking
forward, for securing the property already embarked, and for
ensuring those advantages which were contemplated at the forma-
tion of the Company, and may n le be considered to depend almost
entirely on the Shareholders themselves. But if these instalments
should be wit'Theld the undertaking must eventually rail; and
even in this case the Shareholders might still be suhket to a further
call, to satisfy the existing liabilities for salaries and other inci-
dental charges. The ihrectora do not hesitate, therefore, to ex-
press their firm and unanimous recommendation to the Proprietors
to prosecute with activity an enterprise which is so far advanced,
and which holds out so fair a prospect of affording an ample remu-
nerrion for the use of the capital invested, and an adequate security
for its ultimate re-payment.
A SHAREHOLDER moved that the Report should be read, re-
ceived. approved, printed, and distributed amongst the Shareholders.
Carded.

A StIAREIIOLDEn asked, whether any letters received from the
Agents stated the reasons why Mr. Heath did not write? It was of
importance to know all respecting that gentleman, who had not
been heard of since January.
The SECRETARY stated, that according to the Report he was
seriously ill at Pima,.
A SIIAREHOLDER said, that Mrs. Heath bad heard from him on
the dth of May, and despatches were expected immediately from
him. His Mince could not be accounted for. He was certainly a
man of business.

The SECRETARY said. that Mr. Heath's letters might have
miscarried. Upon one occasion a letter of his did not reach until
seven or eight months Ether it had been sent.
Some conersation took place on the subject of the positive ne-
ce,sity of further advances of money before the working of the
mines could be proceeded with; and k was declared, that unless •
new call were made, or the former calls paid up, the project must
be abandoned. . .

......
A. SualEutoLDEß—What will the sum required to go on with
the mines be likely to be ? Ths payment of any more money may
depend in a great measure on the answer to that question.
The SCCRETARY said the sum required would be 77,850 f., and
we understood him to add that nu more than that sum would ever
be required.
The motion was agreed to.
Mr. Cu tater y observed that there was every probability of early
success. Bars of precious metal iere expected in six months. (A
slight laugh.) He moved " That this Meeting do fully concur
with the Directors in the views they have taken relative to the con-
cerns of the Company, and do unanimously recommend their
co.Proptietors to enable the Director*. by the most efficient sup-
port; to prosecute with vigour the undertakings in which they have
engaged."
The following Resolution was likewise adopted :—" That this
Meeting do recommend to the Director to allow the defaulters 14
days' further time for paying the third instalment, and at the ex-
piration of that period to sue than or to forfeit their Share', art the
Directors may deem expedient ; but it „is aloe the recommendation
air this Meeting, that the Directal shoulttallow such additional
time aa they may consider proper/114ft Proprietors who are de-
sirous of retaining their imamate in lam saneern, alul who will,
within 14 days, give bills, or WNW securities, for the amount of
their respective instalments."
The Meeting then adjourned.
twtsewsw•valtstmewswiew
The following letter has hewn addressed to the Editor of
the Consfitutionne/, by the Es•Kios of Sweden :
" Worms, Sept. 24.
" Sir—Three months ago I foswarled to the Editor of the Etolk
the work of which mention is made in the following article: and
not having received any notice Ur inform me that the work had
been published, I think it my duty to state that I have fulfilled the
engagement which I had entered Into t you will do me the favour
by inserting, as soon as possible, this article, and sending the the
number of your paper in which It appears.
" Etoik of the 119th of April states, that after hav-
ing read tit. t Biography of COMempOrairins.' or Dictionary, his-
t Meal and rai tonne, nail those men who, since the French Hero-
lotion, have acquired celebrlty‘je., 1 proposed to write notesjor
the purpose of correcting the faiths, errors, and calumnies with
which the biography of Gustavus Adolphus IV. abounds, and I
intended to publish them. 1 consequently sent, in the beginning
of June, to the post-offiee of Yhttertour, in Switzerland, the said
work, in manuscript, addressed to the office of the node journal,
having the following for its title Parallel, in the form of
Notes, critical and raitonne allowing the unpardonable Faults,
the Errors of every kind, and dm Calumnies with which the Bio-
graphy of Gustavus Adolphus IV. is composed, I know not the
motives which have prevented the publication of this work, but I
think that, if the liberty of the raw permits calumny, it will not be
despotic enough to shut the mouth of truth.
" COcortit. GurrAVVION."
MITITT.ESEX HOSPITAL, OCT. 3, 1826.—Monthly Re-
. turn of Patients, 11roill the lot 10 the 30th September:—
ln-pstients, admitted by laws • - 120
Ditto, accidents - 26 146
Out-patients, admitted by letters
Ditto, accidents - • •

• Dl--
7e
220

- .. 376

VW -
. In-patients dischargeda . ge
Rewaining in the Hospital - 177
•