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

PASCO PERUVIAN MINING COMPANY.

Yesterday a Meeting of the Shareholders in this
Company was held at the City of London Tavern.

Sir A. damprou the Chairman in introducing the Report,
aid the Directors had deemed it their duty to account for the whole
of the property entrusted to them.
The Report regretted the silence of Mr. Heath, their
Commissioner in Peru, but they conjectured that it arose
from indisposition, and expressed confidence that it
would be accounted for by the next advices from Lima.
Mr. Qairos had, soon after his arrival at Lima, a in his
zeal for the welfare of the Company, and in the con-
templation of the employment of a much larger portion
of its capital than in the present state of its finances can
be supplied, entered into several mining engagements."
The Report proceeded to state that it had been deemed
advisable to drop some of the mines, and that the pro-
priety of adopting these engagements at a future time
had been referred to the Company's agents on the spot.
Mr. Quiros,. with Mr. Fletcher, Mr. Holland the at-
torney and representative of Mr. Cochran, h entered,
on behalf of the Company, into an engagement for some
mines, on a lease for fifteen years-certain, at the annual
rent of 55,000 dollars, and with an advance of 250,000
dollars, on account of this rent. This last condition,
for the advance of 250,000 dollars, was in direct
violation of the conditions sent out last year, and the
Directors, by the advice of their solicitor, had declined
to accept the bills drawn for that sum, and" have trans-
mitted to Lima their protest against all the consequences
of this unauthorised act. and have directed that no /az.
ther engagements of any kind shall be made for the
Viva's property on behalf of the Company, until further
instructions shall be sent out by the Directors, which
instructions must depend upon the amount of their
future disposable capital. Mr. Cochran arrived in Lm-
don before any answers could be received from Mr.
Heath to their instructions. They found that Mr.

Cochran's valuation of the mines amounted to 442,000
dollars, instead of I,ooo,ooo,which had been represented
as the minimum value of the property, but incorrectly
as it appeared, in conseqnence of Mr. Cochran having
been himself misinformed on the subject." The accounts
were otherwise very favourable, and various agents
stated how plentiful the mines promised to be, and how
admirably the works were going on under their super-
intendence: On the general affairs of the Company,
the report states, Mr. Quiros writes thus, under the date
of the 16th of May, 18226," All the mining speculati as
have, I understand, turned out unfavourably, and so
may that of Pasco, if there be not regularity and order
among the agents, commissioners, &c. but in itself the
speculation is the most csrtain and splendid of any in
South. America." The Directors had long since sent out
directions to reduce the ex penditu re of the Company to,the
lowest scale and a due protection of its interests would
allow, and they had repeated these instructions," in terms
of increased urgencF." The Report then stated that the
sum received on 10,000 Shares amounted to 113,8371.
10s. and 4061 18s. 6d. interest, and that the expenditure
amounted to 110,9111. 83. Sd. leaving a balance in hand
of 3,3341. 101. 3d. A provision for the payment of
22,7101. must immediately be made, for which purpose
it would be necessary to make a further call for an in-
stalment 9f 51: per share, unless the whole of the third
instalment should immediately be paid up, and then a
caU of 21.105. per Share would be sufficient. The whole
amount of the cash advanced in Peru (including a sum
of 19,2101. amongst the present claims on the Company)
was 74,2401. The Government duties had been lowered
from 141 to 8 per Cent. The Report in conclusion
stated that unless the instalments were paid up, the un-
dertaking must eventually lall, but they did not hesitate
Ito express their firm and unanimous recommendation to
the Proprietors to prosecute with activity an enterprise
'which was far advanced, and which held out a fair
prospect of affording an ample remuneration for the übe
of the capital invested, and an adequate remuneration
for its future payment.
This Report was approved, and ordered to be printed.
A SamignoLmts wished to know what would be the sum likely
to be required for going on with the Mines? The payment of any
more money might depend upon the answer.
The Secatrrner stated,that the sum required would be 77,1501.
and, he was understood to say, that no more would ever be required.
Mr. CHRIST! said, bars of the precious metal might be expected
in six months; and after some discussion, resolutions in accordance
with the views of the Directors were carried.

A Guatemala Paper of a late date denies that thtre
is any cause for apprehension on the side of Mexico.
Some persons had rendered this declaration necessary,
by spreading reports that the Mexican Government was
collecting troops on the frontier, with the intention of
influencing the internal politics of the new Republic.
The new Custom House is proceeding with great
rapidity, the two wings being nearly secured. The4.vhole is expected
to be completed by June next. The mode in which the whole
building itnow supported is tnly wonderful.