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GREAT WESTERN COAL CO
A general meeting of shareholders in
the Great "Western Coal Co. (Dean's
Marsh, near Geelong), was hold at the
office. Flinders-buildings, on Wednesday
evening; the chairman of directors (Mr
G. H. Burns) presiding. In rnoviag the
adoption of the balance sheet to 31st May,
which showed £106 in hand, the chairman
stated that during the past four months
500 tons of coal had been sold at
satisfactory price, and twice the quantity
could have been disposed of had the
supply been forthcoming, the coal having
given full satisfaction to the purchasers.
There was no doubt that the property was
a very valuable one, and all that was
needed to mate the company's operations
successful was the construction of a tram
way from the mine to the nearest station
on the railway.
The motion was seconded by Mr W.
Cross, and was carried.
The chairman stated that a syndicate
was prepared to construct the required
tram line and to liquidate the company's
liabilities (£1000), in consideration of re
ceiving 4000 paid up shares (£1 each),
and he pointed out that the company
would be able to accept the offer and still
have 1000 shares to sell, if thought
necessary, the number now in reserve
being 5000. The syndicate, the member?
of wbioh were nearly all shareholders in
the Great Western, would also place men
on the mine, and would be recouped for
their outlay from the proceeds of the coal
produced. On the motion of Mr W.
Cross, seconded by Mr E. J. Hanson, it
was decided that the directors should be
empowered to deal with the reserved
shares as they might think fit.
The" election of directors resulted in
Messrs Or. H. Burns, S. H. Godfrey, E.
J. Hanson, H. Kidner, and W. Itoid
being appointed; Mr F. C. Seymour was
re-elected uuditor.
The secretary read a number of testi
monials received from buyers of the coal,
who ull spoke highly of its heating
capacity aud suitability for household
use. The chairman added, that up to the
present, the tunnel was in only one chain,
and every report from the mine stated
that the coal continued to imnrovo in
Quality.—
Age.'1
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