THE WAIHI MINE.

Gisborne Times, Volume XXIX, Issue 3135, 3 February 1911, Page 2

THE WAIHI MINE.

INVESTIGATION AND REFORM DEMANDED.

LPEtt PRESS ASSOCIATION.]

AUCKLAND, Fob. 2

•The Stock Exchange resolved to invite the Waihi shareholders to tattend a meeting at an early date. Those who have held shares, during the past six months are also to he present. The shares to-dav sold at front 75s'to 73s 3d. RESOLUTIONS OF WELLINGTON SHAREHOLDERS. WELLINGTON, Feb. 2.

A meeting of the shareholders in the Waihi 'Goldmining. Co., was held at the Wellington Stock Exchange last evening. Fifty-seven shareholders were present, holding a large number of shares. An animated discussion took place upon the position of the mine as disclosed by the circular of January 23th, issued by the order of the Board of Directors. As a result the following resolutions were passed unanimously: “That the directors of the Waihi Goldmining Co. he requested to obtain a report by a personal investigation from a first-class mining engineer, non-resi-dent in New Zealand, upon: (a) The tonnage and value of the ore already developed in the mine; (b) to report on the methods of mining; (c) to report on the various reduction, mills and their situation, particularly with respect to the course prevailing of having three mills widely' separated; (d) as to the processes followed in the extraction of the precious metals and as to its suitability and economy ; (e) upon the machinery as a whole and as to whether the money lias been well spent or otherwise; (f) to advise as to the system to he followed in developing the mine in the future.

“2. That this meeting views with alarm the statement made by the directors on .January 28th, seeing that it is in conflict with statements published within the last few months by the company’s directors in Auckland. “3. That the management of the mine be placed under the personal supervision of n first-class mining engineer. “4. That ail reports cabled or otherwise be published simultaneously in Now Zealand and London.

“5. That effective steps he taken by the directors to prevent- the giving of information (relative to the development of the mine) to the detriment of the great, body of s-harsholders and to the great advantage of the person so informed.

••6. That all shareholders he asked to sign proxies in favor of some shareholder (to be named subsequently) to be used in Loudon at the annual meeting for the purpose of ensuring the foregoing resolutions being given effect to.”