The Sun.
London, England, 1846-01-29 00:00:00

UNITED MEXICAN IgiNING AS-

SOCIATION.
A half-yearly meeting of the proprien,,,rs of this
company was held yesterday at the Londois Tavern,
Sir John Easthope, M.P., in the chair.
The SWRETARY, having read the notice concetjng
the meeting, then reLd the minutes of the last 11.‘lt-
yearly meeting, which were confirmed. He then read
the report of the Directors for the present half-year,
which stated that in the mines of Reyes no material
changes had been made, and the amount received there-
from was 18,810 dollars, while the Reyes' contract would
expire in 1852. At pientes, the claims on the Mexi•
can Government had been urged by Mr. Beckett, and
would, no doubt, be shortly settled. No new mines had
been purchased. With respect t, the management, a
gentleman of much oxpreience in mining at Asturias
had been selected to succeed the late manager of the
company's affairs there—Mr. Hoobred, that gentleman
being about to return to England. With respect to the
management in England, three vacancies bad been
created by the tleaths of Messrs. Humphreys and Bid-
dulph, and by the; resignation of Mr. Majoribanks,
Messrs. R. Biddulph, j, Ylockton, and J. M. Hoobred
were candidates to succeed them. From the financial
statement it appeared that there was a balance of
22,6051. 15s. Bd. in the hands of the tveasurer. The re-
port concluded by recommending that a dividend of ss.
per share be made on or after the lith of February
next.
The CHAIRMAN said, he scarcely knew whether he
could add any thing to what the report that had been
read to the meeting had stated. If any person present
wished for any information on any part of that report,
it would be given, and every explanation would be af-
forded. With respect to the different points of that re-
port, he would oiler a few observations. It appeared. in
the first place, that there WS, i in hand, unencumbered,
16,759/. 133. 2d., out of which it was proposed to pay a
dividend of 10,7931, which was at the rate of ss. per
share, and to reserve 5,000/. for any contingences that
might arise. The amount of interest that had been re-
ceived was 3001. They had, as the report stated, not
yet been able to make any engagements for new mLtes,i
for Mr. Hoobred, who represented them, could make no
contract satisfactory to himself. The gentleman who
was to succeed him was acquainted with the
Spanish language, and had been engaged in se-
veral mines in Spain. He had joined them
with a desire to put his shoulder to the wheel, and to
co-operate with the people. Mr. Hoobred would remain
with him for some time to put everything right. He
would have no power to make any new engagement, as
Mr. Hoobred was authorised to do, but he would com-
municate with the parties at home, and they would be
regulated by the advice of Mr. Hoobred, who possessed
a perfect acquaintance with the scene of their opera-
tions. The debts of the mine had been decreased to
18,800 dollars. There was one other point to which he
would advert, that was, the election of their directors.
They were aware that vacancies bad been created by the
deaths of two of their directors, ancl by the resignation
of a third. The plan the directors proposed was, to
elect one of their auditors, Mr. Flockton. Mr. Robert
Biddulph proposed himself to succeed his father, and
would, no doubt, be acceptable to them, from his qua-
lifications. The third candidate was Mr. Hoobred, who
would leave Mexico in a short time, as had been stated,
and come over to England, and take his place amongst
them. He would conclude by recommending them to
adopt the report.
Mr. M‘lintott proposed a resolution to the effect
that the report just read be adopted, and said he thought
they might expect every reasonable advantage from the
present management, and approved highly of the con-
duct of the directors in not making any new engage-
ments at the present time.
The resolution, being seconded, was carried unani-
mously.
Resolutions to the effect, that the dividends of ss. per
share be paid on or after the 11th of next February, and
that the gentlemen named in the report as candidates be
elected to fill the vacancies in the Board of Directors.
The CHAIRMAN said it now only remained for them to
pqp the deposits, The meeting them separated.