The Sun.
London, England, 1825-12-23 00:00:00

TYWARNHALE IUNING COMPANY.

On Wednesday a very numerous Meeting of
the original Shareholders of the above Ass-eels:ion was held,
pursuant to the advertisement, at the Crown and Anchor
Tavern, for the purpose of receiving the Report of the Depu-
tation sent by the Directors to inspect the Mines, and to pass
such resolutions as might enable the Directors to carry the ob-
i
jects of the Company into effect.- At the early part of the
' meeting we observed Lord Nugent among those Shareholders
who attended. On the motion of a Shareholder, Jas:Es
DAY, Esq. was called to the Chair. That Gentleman then
observed that all present must,. from reading the advertise-
ment, be perfectly aware of the purpose the original Share-
holders had in view in summoning the present meeting. He
should therefore, without further preface, beg the Secretary to
read his Report. A gentleman appointed for the purpose then
acted as Secretary, by reading the• Report of the Deputation.---
It contained a number of regulations,- which, in the present
state of the Mines, the. persons appointed for their manage-
ment had considered necessary.
An extensive SHAREHOLDER then rose, and informed the
meeting that it was his intention to submit to them a number
of Resolutions, which he hoped would manifest their opinion
of the present affairs of the Company, but previously he would
move that the Report be received.
Mr. FLOWER seconded the motion, which was immediately
passed.
The GENTLEMAN who made the first motion then address-
ed the meeting. He was extremely happy to have an opportii-
nity of correcting a report, which had arisen undoubtedly from
inadvertence, at a former meeting, relative to Lord Nugert,
whom he was happy to see present. It was then stated, that hi.s.
Lordship had received fifty shares as a Director, and had imme-
diately sold them at a premium. But the fact was, that his
Lordship never was a Director, nor had agreed so to be, but
merely a Trustee. That office he had, in the kindest and-hand -
sourest manner, accepted. He had -been nominated fifty shares,
which he might accept or not at his option. His Lordship dis-
posed of only a moiety of these shares. Finding at a subse-
quent meeting, when his Lordship presided, that several of the
Directors had sold out the whole of their shares, he expressed
his displeasure in the strongest terms at such conduct, and
therefore recommended to the meeting a Resolution to the fol-
lowing efFect:—That all-Directors who had sold more than half
of their shares should re-purchase to the number of twenty-
five; and that those who did not, should be expelled from the
Directory. His Lordship then observed that' he, as a Trustee,
was not obliged to hold any shares ; but of the fifty sharestrar s-
ferred to him, he still retained 25, with which he had_ never
parted. The Shareholder then informed the meetin that his
Lordship still retained 25 shares. That motion by his Lord..
ship: he would observe, was carried unanimously. : •

The following ResOlutions were then, proposed and car-
ried

" That in order to establish this Company on a legal and sub,-
stantial foundation, we declare our Association, and the Mines
and Property belonging thereto, to be subject to the laws,
customs, and regulations of the Stannaries of Cornwall, -and
that all questions at public meetings therefore regarding their
interests, must be determined by ballot, each share constituting
a vote."

The Report of the Deputation sent to survey the Mines being
read, it was resolved--

" That the Report now read be adopted, as highly satisfac-
tory to this Meeting, and entered on the minutes, and that the
Managers of the .Mines be hereby requested to cause those ob-
jects to be prosecuted with spirit which are therein recommend-
.ed, and that the Directors do make a call of 11. per share,,to be
paid in January next for that purpose.
" That the Managing Directors of the Mines be earnestly
requested to make and confirm such appointments only as
are at solutely necessary for the spirited and scientific work-
ing of the Mines, and that all accounts, previous to payment,
be examined and approved by the said Managing Direetomond
that after such examination and approval, they be forthwidz
discharged.
" That the Bankers of this Association for the time being,
be requested to join as Co-Trustees with the Right Honourable
Lord Nugent.
" That the minutes, correspondence, and transactions of
the Managers and Directors, be open at all reasonable times
to the inspection of the shareholders, at the Office of the Com-
pany.
" That a proposition from the Proprietors of some adjoining
Mines, to consolidate their interests with the TywarnhOe As-
sociation, appears to us to be highly deserving our attention,
on account of local and other important advantages,.and being
proprietors of a considerable majority of the shares izi,,this As-
sociation, we think it advisable to recommend that the pros-
pectus read to us this day be printed and adopted.
.“ That as it is stipulated by the agreement of Contract, to
I deduct from the purchase money the amount of any particular
interest which could not be conveniently obtained by Mr. Jones,
we acquiesce therein, it being prefereable in our opinion, with
a view of husbanding the capital, to have the possession and
management of each particular interest, by holding a majority
of Shares instead of the whole, especially as the minor interests
must contributetheir proportionate costs, or abandon their ahares.
" That we have the utmost confidence in those Directors
and Managers, who have not disqualified themselves by'declin-
ing to hold the specified number of shares,.and clio approve of
and confirm all measures adopted by them at, kuch„Boani
Meetings, whereto all such Directors and Managers have been
summoned to attend.

" That all persons who pay up the ensuing call of 11. per
share in addition to the receipt for deposits which they may
have purchased in this Association, be admitted Members
thereof, on leaving their address at the Office of the Company,
and that no others shall be accepted as Members, or acknow-
led4ed to have any right of vote or interest in the said Asso-
ciation whatever, and that the managing Directors,
.at their
future Meetings, be allowed to authorize the like admissions
of future transfers without any fee, so that the holders
of Scrip or Shares shall, after such admission, be members of
the Association, and entitled to receive the.dividenda, thereon.
.That it appears to this Meeting, that only very.partial ope-
rations, by a few men near the surface of the lodes in one of
the Mines, have as yet been attempted ;:that the,sterina engine
on the Blue Hills, and other machinery, have not yet been com-
pleted for want of funds ; and that for these reasons the amount
of produce of ores, three fifths of which is to be ,divided at
Christmas, does not exceed 3601. That several of tlie Mines
have not been worked at all by the Company, and that great
delay has arisen in commencing operations at the-'Surface and
Adit Levels of the Pink Mines; but that this Meeting is per-
fectly satisfied, for the above reasons, with the present dividend,
by the proof that all operations hitherto so partially attempted
at Surface on the Lodes, have keen productive ofconsiderable
'profit.
" That these Resolutions be- signed by the Chnirrpaß. on
behalf of this electing, and be published in the Mornin. and
Evening Papas. (Signed) " JAM ES DAY." •