Golden Belt Company

Golden Belt Company

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History
Town	Springdalla
Known dates	1879-1880

The Golden Belt Company was a gold mining company at Springdallah, Victoria, <1879-1880>.

Site

The company operated a mine at Springdallah.

History

The mine flooded in August 1879:

Last night another batch of men were thrown out of work by the flooding of the Golden Belt shaft.

The mine claim and equipment was seized and sold by the Sherriff in November 1880. It was purchased by Mr. Lewers and the company was reformed at a meeting at the Court House Hotel in Smythesdale in November 1880:

GOLDEN BELT COMPANY, SPRINGDALLAH. A special meeting of the above company,called for 3.30 p.m., was held in the Court-house hotel, Smythesdaie, on Wednesday, 10th inst. Shortly after 4.30 p.m. Mr Adam Clinton, chairman of the board of directors, took the chair, and read the advertisement calling the meeting. The manager, Mr J. P. Roberts, read the following report:—“ Gentlemen,—The machinery and claim of the Golden Belt Company having been sold by auction, by order of the sheriff, on the 21st October last, a number of gentlemen who were connected with that company, and who have still every confidence in the ultimate success of the mine, at once entered into negotiations with Mr Lewers, the purchaser, for the repurchase of the claim, with the view of forming a new company. The result being an arrangement for the purchase of the plant and claim, to be paid within a month, and the remainder to be secured by mortgage. It was then agreed to form a new company, with a capital of £20,000, in 20,000 shares of £1 each; eight shillings per share to be paid up, as representing the amount already expended on the works and machinery. The shares in the first instance to be offered to the shareholders in the Golden Belt Company pro rata, who have unanimously responded by taking up every share in the new company, and the deposit on first call, amounting to £250, now stands to the credit of the company. We have the satisfaction to report further that the company’s shaft was got through the rock at the depth of 200 feet, in black clay and rock mixed. A bore was put down this morning, 10th inst., a further depth of 14 feet without any change. The business of this meeting will be to appoint a manager, directors, and auditors; to adopt the deed of association; and order on the registration of the company under the No-Liability Act, and other general business. In conclusion, the provisional directors,have much pleasure in congratulating the shareholders on the possession of what will shortly prove a very valuable mining property.' —A. CLINTON, J.P. -The chairman stated that operations at the mine had been stayed only a few days whilst arrangements with the sheriff were being made. In reply to a shareholder, the chairman stated that they held about 850 acres, and all the shares had been applied for in the new company. On the motion Mr M‘Vitty, seconded by Mr Macaw, the report was received, and the read over clause by clause. Mr Macaw moved the adoption of the report, and that the best thanks of the meeting be given to the directors for securing the property on such satisfactory terms. Mr Parkyn seconded. Carried unanimously. Mr M'Vitty moved, and Mr M‘Lean seconded—“ That Mr J. P. Roberts be appointed legal manager at £3 per week." Carried unanimously. Mr Roberts, who had retired, was next called in, and returned thanks, saying that, in his opinion, they had a grand mine before them, and he would endeavour to do his best for the company in the future as he had done in the past. (Applause.) The deed of association next read clause by clause seriatim. Mr Conrad Zilles moved, and Mr Parkyn seconded - "That the office of the company be in Ballarat." Carried. Mr Macaw and Mr Kopke seconded - "That the board of directors consist of five persons.” Carried. And further, that any shareholder becoming a director shall not hold less than 100 shares in the company. The first general meeting of the company was fixed for January and the manager and one director were deputed to sign all cheques. A ballot was then taken for the election of directors by assessment of shares, the chairman, though strongly pressed, declining to stand, when out of nine candidates nominated the five following gentlemen were elected: Barrowclough, 18,000; Dodds, 16,950; Macaw, 15,950; M‘Vitty, 14,750; Irwin, 13,200. The chairman declared the above five duly elected. 19,300 shares were represented at the meeting by person proxy out of 20,000. Messrs M'Lean and Parkyn were appointed auditors. On the motion of Mr. Macaw, seconded by Mr Zilles, the deed of association was adopted, and it was resolved to register the company, under part 4 of the No-Liability Act. The meeting, next fixed the directors and auditors’ fees, and after a speech from Mr Barrowclough and his brother directors a cordial vote of thanks was accorded to Mr Clinton for his past services to the company. Mr Clinton having the proceedings terminated.