The Sun.
London, England, 1826-08-03 00:00:00

CHILIAN and PERUVIAN MINING COMPANY,

Yesterday a' meeting Of the scrip. holders of this
COmpany took place at .BatsOn's Coffee-house, Corn-
hill, for the purpose of taking into consideration the
Most effectual plan .of ascertaining: the state of the
affairs of the Association : Mr. Wm. Clark in the chair.
The CHAIRMAN said, the meeting was assembled
by public advertisement, in consequence of the Diree-
tora refusing to comply'with a requisition signed by
twenty or thirty respectable names, calling them to-con-
vene a meeting.
Mr. CLARK .said that the original capital of the
company was 1,000,000/. ; to consist of 10,000 shares'
of 1001. each ; for the purpose of purpose 'of purchas-
ing gold and silver mines in 'Chile and'Peru, and he
understood that all shares had been subscribed for, and
a sufficient sum -had from the public, capable of carry-
ing into effect all objects contemplated by the company.
,ship, the Eriga, was •fteighted at a vast expense ;
two commissioners and fifty men, furnished with every
descriPtion of mining implements, were sent out to
Valparaiso, and to facilitate the operations of the as 7
sociation, a Captain Andrews was despatched for the
porpose of securing some valuable mines which had
ben pointed out to the notice of the Directors, who,
instead-of going direct to Valparaiso, went to Buenos
Ayres, and' across the country to Mendoza; and in-
stead of crossing, the Cordelier mountains to Santiago,
he proceeded northward into a barren country, where
he found mines,-.—but so remote were they, it would
have been impossible to attempt working them' as the
country seemed to
,be' perfectly destitute of human
beings. He:then directs his course to Peru, where he
finds mines which seemed worthy of the attention of
the Company, but the agent of a rival company had
already secured them. In the mean time; the Eriga,
with the commissioners and men had arrived at Val.
paraiso. Captain Andrews not appearing, they were
quite at a loss to know what they should do : they
seemed as if they were thrown -upon a desert island.
the commissioner, Captain Bagnold, seeing the situa-
tion in which they were placed, endeavoured to look
Out for other mines, and his investigation was crowned
with the success of, 'discovering a copper mine,' but
from its-locality the working' of it would not be attend-
ed with advantage to the association. Things being
thus circumstanced, the Directors conceived it neces.
aary to supersede Captain :Andrews in his official
opacity as agent ; and Captain Bagnold, with his
fifty men, remained at Valparaiso, at a loss how to
dispose of them. How then did the case stand ? A
company' is formed for specific purposes, money sub-
scribed to carry those purposes into effect—the theatre
of its operations is in another clime-=-4t ship is freighted
at a heavy expense---the vvhole scheme proves abortive
—the Directors are applied to for an explanation—they
decline, on the alleged ground that the scrip-holders
have not signed a deed of settlement,- and consequently
are 'not' partners in the-concern. Now 'he (Mr.. Clark)
was of a contrary opinion. 'Mr. Clark went to state,
that the only way to ascertain the true state of the
Company's affairs was by an inspection of the cor-
respondence, books, and accounts,' which. he had been
refused. He next adverted -to the, signatures which
appeared to the deed of settlement, which was only
signed for 3,028 shares, and with the exception of four
or five, those who had signed were Directors. One
Director had not signed in consequence of becoming a
bankrupt. The Auditors, lie understood, had refused
to sign, and, as he believed, because they did not ap-
prove of the conduct of the Directors. Mr. Clark
vitt:haled a long statement by observing, that the trictat
kolicioite course for the Directors to pursue 'wits to
tbroW themselves On the mercy of the Shareholders.
After several observations from other Gentlemen, a
resolution passed, appointing a committee of three' to
wait on the 'Directors, for the purpose of inspecting
the books and accounts of the Company..
Thanks being voted to the Chairman, the meeting
separated.
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