Eureka daily sentinel. [volume] (Eureka, Nev.) 1871-1887, 1878-07-12

Whining ZIP n White Pine Mining
Company In London.

company IA E<OEuon.
The South Aurora Mining Company,
though owning a Treasure Hill property,
is a separate and distinct concern from
the Eberhardt & Aurora Company. There
was an extraordinary meeting Of the share
holders of the South Aurora in London,
Tune goth, to confirm the following reso-
~lutions passed at the extraordinary meet
ing held on May 31st
/. That this company be wound up vol
UNFAIRLY.
2. That Mr.. Louis B~ergtheil, public ac-
countant, and Mr.. Charles Cadogan, secre-
tary of the company, be appointed liqui-
dators, and that their remuneration be
fixed at the sum of ESQ each.
3. That this company approve the fol-
lowing scheme Of reconstruction" That a
new company be incorporated under the
name of The Consolidated Mining Com
pany (Limited), with a capital of fl00, 600,
divided into 100,0 600 shares Of FL each, the
whole of which are to be issued as fully
paid up shares, for the purpose of taking
over the business, assets and liabilities of
this company, in exchange for 5000
shares of the new company, which are to
be distributed among the members of this
company, in exchange for their existing
shares in the proportion OF three shares in
the new company for every two shares in
this company, the remaining 10000 shares
in the new company to be applied, so far
as may be, in acquiring by way Of exchange
the shares in the Olmeta Copper Company
of Corsica (limited) and the Lama Com
pany Of Corsica 1imited) respectively, not
already held by or in behalf Of this Com
pany, and any balance of shares of the new
Company, which may not be required for
the above purposes, to be dealt with as
the Board Of Directors of the new Company
may determine"
4. That the liquidators be and they are
hereby authorized to concur with any other
person or company in the incorporation of
a new company for the purpose of carrying
into effect the above scheme, or any reas-
enable modification of the detailed terms
thereof, and that pursuant to section 161
Of the Companies Act, 1862, the liquida-
tors be and they are hereby empowered to
transfer or sell the business and property
of this company to such new company, n
to receive in compensation for such trans
fer 0,000 fully paid-up shares of FL each
in the capital of such new company, for
the purpose of distribution amongst the
members of this company, pursuant to the
aforementioned scheme.
5. That the purchase money for the in
terest Of any dissentient member be raised
wholly or in part by a sale of the share or
shares which would otherwise be allotted
to such member, or out Of such fund and
by such funds as the liqnidators and the
new company may agree upon.
6. For the purpose of the above scheme
the draft agreement intended to be made
haftvapp tho 1iprflofnro IF fha nna narf
and Arthur G. d. Griffin, a trustee, on be-
half of the new company, Of the other part,
and also the draft Memorandum and Arti-
cles of Association of the new company
respectively, submitted to this meeting
(and which are identified respectively by
the signatures of the Chairman OF this
meeting at the foot thereof are respective
iy approved.
Mr.. C. Cadogan (Secrctary) read the
notice calling the meeting.
The Chairman said the meeting was of a
formal character, for the purpose of con-
tirming what was carried out at the last
meeting, on which occasion the Directors
had 1G0 proxies, beside the shareholders
present, whilst on the present occasion
they had 100 proxies, beside the share
holders present. Therefore there could be
no question that the resolutions would be
toHi u III tAC Oioituis way, dho tHey
would be able to reconstruct the company
and carry out the object they had in view.
He moved the resolutions be confirmed.
Mr.. Townc seconded the motion.
Mr.. Clenck said he should enter his pro-
test against the proceeding, as he had not
ified his intention to do in e letter to the
board.
The Chairman: If you are not satisfied
with the shares You can sell them. We
have done u best; We can do no more.
You can refer the matter to arbitration.
In answer to q further question, the
chairman said it was not a new company,
but simply the South Aurora Company re-
naming with the Corsican properties at
tached to it.
Mr.. Applegarth said that by the pro-
posed scheme the South Aurora would be
kept alive till they knew the result OF. the
driving Of the tunnel by the Eberhardt
and Aurora, and if that company succeeded,
this company would also be a success. The
shareholders would fail in their duty to the
mine if they do not await the result Of thai
driving.
The resolutions were then put and car
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