The Sun.
London, England, 1852-10-30 00:00:00

clear and impartial report which they had issued to tie
proprietors. (Chet re)
The CHAIRMAN said he should be happy to answ, r
any qut stions before he put the resolution.
Mr. JENNINGS was rejoiced to that the exertions of
Sir H. Huntley bad been so successful. Too much cau-
tion, however, could not be used in their early opera-
tions, and he should be glad to know if it was intended
to use all the machines at once. (II( ar, hear.)
The CHAIRMAN said they certainly were in possession
of most valuable machinery. Tht y had one engine of
no horse power, fitted up with stampers and crushing
mills. The rollers of this engine would crush 10 tons
a❑ hour.
Mr. JENNINGS said ho did not want any details. He
repeated that he was glad they had the machinery, be-
cause it would enable them to crush the dirt found in
the gold rivers, without running any risk whatever. He
hoped, however, that the Carolina mine, which could
not be worked at present, or alone, with great auvantage,
would not bo sacrificed.
The CHAIRMAN said certainly not. The company
had three engines, and three sets of crushing mills. The
Dicksburg mill was worked with water power, and they
were therefore in possession of more machinery than
they actually wanted, Under these circumstances, Sir
H. Huntley had determined to keep the Carolina mine
in operation, so that the machinery might be constantly
in use. (Hear, hear.)
Mr. PARKER asked what was the relative position of
those two mines?
The CHAIRMAN said the Carolina mine was about 20
miles from Dicksburg, and two were about equi-distant
from the point where the steam power ceased.
A PROPRIETOR—What is the distance from the Seed-
mento?
The CHAIRMAN said it was about 60 miles, but there
_wee e geed road, ate:l nu tiileulty would be found in
getting the machinery there.
After the CHAIRMAN had given tome explanation re-
lative to the balance•sbeet, of a technical nature,
A PROPRIETOR remarked that, although Sir 11. Hunt-
ley had the opportunity of making other advantageous
purchases, he considered that the directors had adopted
a wiso course i❑ not extending their operations too
much, however tempting the opportunities of acquiring
fresh property might be. (Cheers.)
The CHAIRMAN remarked that six months could not
elapse without solving the question whether the mining
could be carried on successfully or not, and then would
he the time for the directors to consider the propriety
of extending their operations. (Cheers.)
A PROPRIETOR wished to know what Was the state of
the share capital.
The CHAIRMAN said that 78,000 shares were regis-
tered; but that a deposit of 10s. a share had been paid
back upon 10,000 shares.
A SHAREHOLDER—Have you any intention of issuing
further shares?
The CHAIRMAN hoped not. The Directors were the
largest shareholders in the company, and of course it
was their interest not to increase the proprietary; and,
if close driven fur money, it was satisfactory that they
had the power of increasing their capital by borrowing.
But it would not be right to ask the directors to pledge
themselves to any positive course in this respect. (1.1.,ur,
hear.) All he said to-day was that if now shares had to
be issued they would not be thrown on the market—the
present proprietary should have the first offer. (Hear,
hear.)

A PROPRIETOR wished to know how the company
stood in reference to the legal proceedings which cer-
tain alloitees had instituted against the Directors?
Toe CHAIRMAN stated they considered that they had,
in effect, succeeded in the actions brought against them,
and he had no appreheusiuns for the future. At all
events the expences on this heal had been nearly brought
to a close, and in a short time he hoped the company
would be entirely free from litigation. (Hear, hear.)
Mr. Massey DAWSON (a Director) explained the
origin and nature of actions brought against the com-
pany. They were merely speculative actions, the attor-
ney taking the chance of the costs; and this at least was
certain—though he could not say other actions might
not he brought—that they would see no more speculative
actions.
The CHAIRMAN took the opportunity of that discussion
to couttudiet the assertion which had been made, that
certain shares had been forfeited by a trick of the di-
rectors, in not giving the shareholders sufficient time to
register. Six clear months was given to every shareholder
to sign the deed, and the directors did all they could to
induce these allottees to sign in the first instance.
They refused however to do so, until more than
six months had expired, and the shares had
reached a premium, when they became particularly
anxious to be allowed to join the concern, but the Direc-
tors thought it only just to those who had signed the
deed, in duo course, nos to admit them. (Hear, hear.)
The adoption of the report was then put from the
Chair, mid carried unanimously.
' me. O. r. DAP:SON, cue of the retiring Directors, inti-
mated that it was nut his intention to offer himself for
re-election. Ile lived in Cornwall, a great distance from
town, and his attendance at the B. and would in future be
a source of groat inconvenience to him. Besides, the
services he could render the Company would not be com-
mensurate with the sacrifices he would have to make on
his own account; and as ho had full confidence in the
prudence of the rest of the Board, ho II as desirous of
being relieved from the office he had hither.° filled. The
Company was going on swimingly, and could coolly spare
him; indeed, he might say that their net was now
fully spied upon the waters, and all the Directors would
have to do in future would be to draw it in from time to
time, and take the luck which Providence might vouch-
safe them. (Cheers.) Nothing could be more gratify-
ing than the present position of the Company. They
were in possession of machinery equal to any to be
found in Cornwall, end capable of crushing a hundred
tons a day, while in addition to that, they held a pro-
perty in tee, respected by all the recogniz3d laws of the
country, not even excepting that of Mr. Justice
Lynch (a laugh), which they had obtained at a
mere nominal price ; and ho was thoroughly con-
vinced that in a very short time the venture in which
they were all embarked would prove a most complete
success. (Cheers.) With these observations he begged
leave to move the re-election of the retiring directors,
viz.. Dr. Barker, Mr. Hinoks, Mr. Parker, and Mr.
Falder. (Hear, hear.)
Mr. Lewes seconded the resolution.
A SIIAREHoLDER said he believed their friend, Mr.
G. Dawson, had ❑ot stated the real cause of his resig-
nation. The fact was, Mr. Dawson had recently dis-
patched his son to California, and he had received such
glowing accounts from him of the extent of gold to be
found there, that he had determined to send out another
sun, with a quantity of machinery, to speculate on his
own private account. (Rear, hear) This, of course,
would take up some of his time, and ho could not well
attend to their interest and his own toe. ( El( ar, hear.)
Mr. G. De.waoli said he had himself correctly stated
the reason of his resignation, and the lion. shareholder
was somewhat out of order in making the statement
they bad just heard, though he readily admitted that
the statement was not altogether devoid of truth.
At the instance of Mr. Richard Barker, a discussion
arose upon the propriety of reducing the number of di-
rectors from ten to seven ; but the chairman gave de-
tailed reasons why the larger number was required, and
the sense of the meeting being against the suggestion,
it was not pressed.
The resolution was then put and carried unanimously.
It was then proposed and seconded that Mr. MeLeod
of Dover, and Mr. Ommaney of Charing Cross, be elected
directors in the room of Sir C. Rumbold, and Mr. George
Dawson.
Mr. G. BARKER moved an amendment to the effect,
that the sum awarded for the expenses be reduced from
1,2001. to 8 001. ; but on a show or hands the proposal was
lost. Mr. Barker stated as his reason for urging this
that until a dividend was declared, the most rigid econo-
my ought to bo practised. The amendment was univer-
sally rejected, and the above gentlemen were then elected
to the Board.
Mr. Charles Spooner of Leamington, and Mr. C.
P. Cottrell were elected auditors.
Dr. BARTLETT proposed, and Dr. BARKER seconded a
cordial vote of thanks to Sir U. Huntley and the other
officers of the company in Calitornia, which was carried
with acclamation.
A vote of confidence in the chairman and directors
was passed with the same unanimity; and thanks
having been voted to the secretary, the meeting which
was largely attended, then separated.

Tnu CoLONlES.—Advices have been received from
Mauritius to the 10. h of September. The general screw-
steamer Harbinger had arrived with the mails from
England to the 14th of July and 30,0001. in specie
Document bills had been negotiated at 4 per cent. dis-
count, and, previously to the receipt of specie from
London and India, it was fully expected that even for
the present mail rates would have further declined. It
was considered probable that during the ensuing month
the discount would not exceed 5 per cent. Australian
Bank bills had been taken at 21 to 3 por cent, discount.
For bank post bills 1 por cont. premium had been asked,
but not obtained. Treasury-bills ranged from Ito 1
per cent. premium. Bills on the Oriental Bank had
been negotiated at 501 per Company's rupee. An active
business had taken place in Sugar, at prices varying
from 3 dol. 655. to 4 dol. 75c. Of the old crop, the
quantity shipped up to the Bth of September was
137,137,2711 b., igainst 117,086.4061 b. at the same pe-
riod last year. The shipments of the now crop to the
Bth were firm at 3/ A vessel had been chartered for
Australia at 41. Oxen arrived very
sparingly, and
the expectation of the 141 adsgapar ports being closed
had caused an advance in the price of beef. Tho ils
Government, it was understood, were willing to allow°v
the trade to proceed, if a certain amount were paid for
the privilege. For mules there was little deman ,
and
d, the
scarce
planters being well. supplied. Sheep
were
in good request. The late advance in rice had been
fully supported.
ATTACK ON MR. SEYMOUR The statement of an.
111,11
attempt upon the lite of the Rev. D • Seymour, in the
county of Galway, has been
have
by the rev.
gentleman's friends. The
treated the matter
either as a pure fabrication, or aava° a gross misrepresen-
tation of some accidental circumstance. Mr. Seymour
is not c3nnected with land, and is besides greatly
respected and esteemed by the peasantry.