REFORM (late Imperial).

Inangahua Times, Volume X, Issue 1510, 16 February 1885, Page 2

REFORM (late Imperial).

The promoters of this venture have taken a new departure, this being the first Company in the field to be registered under the ♦' No Liability Act." The proprietors of this Company purchased the Imperial mine and other property at Boatman's some six months a SO at a bailiff's sale, on behalf of certain Imperial shareholders, the company not being in a position at the time to satisfy the judgment creditors. At the time of purchase they gave a promise that they would recognise the claims of call paying shareholders in the company to participation, and now offer 14,000 shares in the new company to Imperial shareholders, the other 10.000 shares the proprietors take up themselves. One shilling petshare is pnyable on allotment, which will furnish an amount sufficient to open the mine from tin* Jnst, in-Time I shaft, and also to take out a consider- | able crushing. The distance to drivo ; is only ICO feet, and paddtvks and tramways already exist, connecting the Just-in-Time shaft with the battery. Applications for shaies close 01 the 28th February, and tenders have been called for driving 100 feet, to close March 2nd. The Imperial Company got into difficulties through some large shareholders getting in at revs for call-? at a critical time, and oh the eve of completion of works necessary to open

the mine at a low level, and the new company is likely to possess a g-*od pei-ui-meiit mine at a trifling cost. In consequence of the uumbei of inin<*rs idle iv Boatniiui'.- ut the present time contracts are sure to be closely competed for. Mr W. C. Collings is secretary for the company.