An adjourned extraordinary meeting of the Mendota Mining Ca. was held on Wednesday at the office of the Secretaries, Messrs. Drysdale, Ringer & Ca. Mr. Duncan Class presided, and there were also present Messrs. 'T. Wood (Director), H. Pullen, G. Ogle, D. C. Campbell, J. Buchanan, 'A. Thurburn, J. Jaques, C. Cromie, A. Wood, and D. Brand, representing 2,347 shares.
The Cuareaan said-—As there is now a quorum present, we will proceed with the little business there is to be done. As you are aware, this is an adjournment of an extraordinary meeting called for 3ist_ July, adjourned till 2.30 to-day, and again ad: journed from that hour till now. The meeting is called to consider proposal for consolidation of the Smuggler Miming und Milling Ca. of Colorado, the Sheridan Mining Ca., and this Company into one Company or concern, to be managed in Colorado; to express the sense of the meeting upon or give directions as to any such proposal; to alter the deed of settlement of the Company; to con-nider, and if sv decided, to pass a special resolution to put the Company into liquidation or to dissolve the Company and to pass any resolutions and transact any business the Meeting may be competent to pass or transact. I have no doubt you are aware from the morning paper ut panied at the Sheridan Ca. meeting yester day, ut which they decided not to guniate or consolidate the three companies. Therefore, as far us we are concerned we need nut pass any resolution on that subject wt all, because the amalgamation is simply an impossibility now. We cannot pass a resolution to utualgamate with the Sheridan and Smuggler Cos. when the Sheridan shareholders say they will not have it.
Mr. Branp—Would it not be more in order to pass a resolution not to amal-gamete.
The Cuarsax—You can "express the sense of the meeting upon or give directions ass tv any such proposal." All we can say that when Mr. Porter and his com cane here in the spring their prop amalgamation was considered tu be just wud reasonable und the matter was looked upon as practically arranged, Afterwards we received letters and telegrams from our tanager strongly objecting to the proposed amalgamation and saying it would be of no benebt to the Mendota Mining Ca. whatever. The little expenditure that would be saved by working the mines under one management, would go in other ways, in the salaries of secretaries, ete, and stated further that, although he had every cuntideuce in Me,' Porter's integrity anil atraightiorwardness, if Mr. Porter were to sell out his shares in the Company or if anything were to happen to him or any of the Directors it was proposed to have over there, he (Mr. Waters) was afraid the company would get into the hands of mining speculators and the interests of the Shanghai shareholders would suffer in consequence. Mr. Simpson, who is one of your Directors and one of the largest shareholders, is strongly in favour of this consolidation, and he states that for the last two years (he goes there every year) the matter has been discussed Mr. Weters, Mr. Porter, Mr. Bell and himeelf, and I think Mr. Pierce, and that they were quite agreed then that it was for the benefit of all concerned that the Directorate should be in America. Ni apparently, Mr. Waters has either changed his mind of, a8 he says, he did not understand in all these negotiations that it was intended to have the supreme control in} America. He says that as far as he understands the amalgamation it was that the head office should remain at Shanghai and that there should be a consulting commuuittss in Colorado. I believe what influenced the Sheridan Directors te the resolution they came to yesterday was this: When Mr. How left Shanghai he was asked to go there and look at thin; for himself. He was not asked officially before he left. Mr. Ringer had to leave on account of ill-health a to Mr. How asking him his opinion. reply was decidedly opposed to amalgama-Hew 1 bolovs it war Bie, How's epetion, twice expressed by wire, that influenced the Sheridan shareholders more than anything else. I say that as a matter ut opinion, Their having done any proposition for amalgamation this meeting is called to express its sense upon or give directions as to any such proposition, Tshall be glad to hear what anyone has to say on the subject.
Mr. Brasp—I think that if you were to putin your own speech, Mr. Chairman, a few words to the effect that as the Sheridan, one of the mines my, yesterday at their public meeting decided ut to aualgamete, it was now impossible for us to amalgamate. there would be no necessity for anything more.
The Cama: T have just said so.
Mr. Brasp—I dit not understand that.
The Cuatnway—jat is really all there is to say.
Mr. 'T. Woop here read the two telegrams received from Mr, How.
Mr, Tacxeces e agree with Mr. Brand that as so many of the shareholders in this company are Americans we had better pass no resolution at all, the thi being practically settled.
The Cuanmtax—That is exactly what 1 have said.
Mr. Tucxvers—it as an express sion of opinion from another sharehold The Cuatunax—The action of the Si ndon Ca. having rendered amalgamate impossible, it would be useless for pas avy resolution on the subject, If you ike we can ast. for a show ut hands on the subject. I may mention for your information that we have received " remittance of $10,000 (hear, hear) on account of the mine, which, with the money iv the bank ut presout—the balance of the last rem tance—will enable " dividend of 4 per cent. to be declared. The dividend warrants will be issued as soon as possible, and as soon as the bank has received contirwation, If there is nothing else to propose we can consider the meet closed.
The proceedings then terminated with a vote ut thanks to the Chairman.
Text read from the printed page and cleaned; old type leaves the occasional error.