Dearie:Russell Family History

The Malay Daily Chronicle, Tuesday December 30, 1913 and MALAYAN COLLIERIES, LTD. [Articles] The Straits Times, 26 December 1913, Page 10 

The Statutory Meeting. Mr. J.A Russell’s speech. The statutory meeting of Malayan Collieries Ltd., was held on 22nd inst. at the registered offices of the Company, 14 and 15 Loke Yew Buildings, Kuala Lumpur, Mr. J. A. Russell, (the chairman) presiding. Mr. D. O. Russell (on behalf of Messrs. J. A. Russell and Co. the agents and secretaries) having read the notice convening the meeting, the Chairman said: - Gentlemen, - this meeting, as you all know, is called but in order to comply with the provisions of the Companies Enactment, 1897, it being what is known as a statutory meeting. The object in calling a statutory meeting is not to present an audited balance sheet and report on the working of the Company, but to afford an opportunity to shareholders of learning how the floatation of the company has been effected. I have therefore first to inform you that the total number of shares allotted is 150,000 of which 61,000 are allotted fully paid up to the extent of $10/- a share in part consideration of the acquirement of the property and rights in the Federated Malay States of the Rawang (F.M.S.) Coal Syndicate Ltd. From this you will perceive that our Company has gone to allotment fully subscribed; it was in fact slightly over subscribed, and all very small applications were rejected. The total amount of money that has been received to date is $527,328. There is a sum of $6,750 still due from shareholders on account allotment, but the whole of this sum has been independently guaranteed. The total amount of disbursements made to date is $407,755.14 of which $390,000 was the cash consideration paid to the vendors. The amount of cash with the Company’s bankers is $112,572.86. The present directors, auditors, bankers and the agents and secretaries are those whose names were originally given on the front page of the prospectus, no changes or resignations having been made. But your directors have since the formation of the Company engaged the services of Messrs. Forster Brown and Rees, the eminent colliery consulting engineers of Cardiff, to design your plant, and to advise on equipping and working, while the latter have selected and engaged on your behalf Mr Thomas Lockhart McCall to act as your mines- manager at Rawang. Mr. McCall until he joined your Company was manager at the Ormiston Colliery, Great Britain, and holds, besides other certificates and diplomas a first class colliery manager’s certificate. Mr. McCall was unfortunately unable at once to sever his former connection, and therefore to arrive out here before about a week ago. The property and rights of the Rawang (F.M.S.) Coal Syndicate, Ltd., have been fully transferred to your Company and you are now sole registered owners of the Rawang Coalfields. Your directors, I must explain, had hoped to be able to avail themselves of the opportunity of today’s formal meeting to give you the information about the proposed method of working and the prospects of you Coalfield, which I am sure you are eager to have; but in view of the fact that Mr. McCall has but just arrived from Home, and has, therefore, not yet had sufficient time or opportunity in which thoroughly to investigate the field and seams, and to arrive at what is the best method of working, we have thought it better to say nothing now, but to promise that within one month’s time from today we will issue to all shareholders a circular giving the fullest possible particulars of the proposed method of working and of the prospects of your property. I shall, therefore, add nothing further at this meeting except in conclusion to mention that you must not think there has been any delay on the part of your directors, for matters have been progressing steadily and could not have been further expedited without taking grave risks; that the earthwork line being built by the F.M.S. Government to your coalfield is now well in hand; that all your directors have seen and heard since the formation of the Company has but the more convinced them of the great value of your property; and finally to thank you for you attendance here to-day.