A meeting of shareholders in the Champion G.M. Company was held on October 27th. Mr A. Porter, who oc cupied the chair, stated that during the year £996 had been expended, making a total of £9,650 spent on tho mine since it bad been taken up by the English Com pany. Of the sum of £14,000 agreed upon there was £4,500 to be accounted for, and It appeared £2,000 of this amount had been paid for " promotion " of the Company, al though Mr Chambers, junior, knew nothing of such an arrangement. The Chairman stated further that work had been sus pended in the mine, but that a process patented by Mr Montgomery promised, if successful, to ensure the future success of the Eiine, The present overdrafts was £53. The chairman intro duced to the meeting Mr McFarlane, from England, who stated that if the new process proved successful, the necessary capital to carry on operations would be available. They could 'depend upon the present directors to do what could be dono. Mr Porter remarked that he did not blame the English directors, but they were not very sharp in syndicate business. Tho meeting terminated without any resolution feeing adopted.
