MOUNT LYELL CO.

Press, Volume LXIII, Issue 19162, 19 November 1927, Page 12

MOUNT LYELL CO.

NET PROFIT OF £173,293. [THE PRESS Special Service.] AUCKLAND, November 18. Cabled advice was received in Auckland to-day that the annual report of the Mount Lyell Mining and Railway Company for the year-ended September shows the net profits to be £173,293. The cablegram also states that the directors recommend an increase in the authorised capital to £2,500,000. The company's net profits in 1924-25 were £174,606 and in 1925-26 £171,861. A dividend of 11J per cent, was paid in each year. The present authorised capital is £1,300,000 in £1 shares of which 1,289,195 shares have been issued and fully paid. MAHAKIPAWA GOLDFIELDS, LTD. Mr P. "W. SoaneSj one of the directors of Mahakipawa Goldfields, Ltd., has returned to Christchurch after a two weeks' visit to the company's mine. He reports that the power transmission line being erected from Havelock to the mine, a distance of six miles and a quarter, is more than half completed, the date of completion being December 6th. The concrete foundation for the winding winch has been completed, and the winch is now in position awaiting the arrival of the electric motor. The water race from Butcher's creek, with a fall of 70ft to the gold-saving tables, is almost completed, and the construction of the fluming is well under way. All the work is well in hand and there will be no delay in starting sinking operations, to reach the gold-bearing strata, when the pumps arrive at the mine towards the end of December. SUGAR, (BT CABLE—PRESS ASSOCIATION'— COPYRIGHT.) (AUSTRALIAN AND. X.Z. CABLI ASSOCIATION.) (Received November 18th, 8.30 p.m.) LONDON, November 17. | Granulated iimr ii quoted at 29s IOJd a I ewt. . '