MINING NEWS.

Dominion, Volume 2, Issue 536, 17 June 1909, Page 8

MINING NEWS.

WAHH GOLD MINING. The report of the Waihi Gold Mining Com-' pany, Ltd., for the year ended December SI, 1908, presented at the • meeting on May 13, stales that, during the year 393,214 tons (of 20001b. dry weight) of ore were treated; the gold and silver sold realised .£930,511. Thiß amount, together with .£9023 for interest, makes the total, gross revenue received for the year £939,534. The expenditure in New Zealand and London, including development work at the mine, amounted' to £381,392, leaving a gross profit for the year of .£558,141, as, compared with £530,910 in 1807, an inorease of £27,23(1. This sum, added to £22,155 brought forward gives a total'of £580,297. Out. of this the directors have providod £41,511 for new plant and machinery, as against £53,299 last year, and have; written off 10; per cent, depreciation on .plant and machinery, amounting to £3(1,374, as against £?5,012, lost year. The following dividends have been paid free of income tax:—No. 60, 3s. 6d. per. share, paid March 2, 1908,- No. Gl, 3s. 6d. per Share, paid June 1, 1908; No. 62 4s. per share,.paid September 1, 1908; and No. 63, 4a. per share, paid December 1, 1908, together absorbing, as against £322,339 paid in dividends in tho previous year. The sum .of £32,537 has been resorved for income .tax in Loidon and' New Zealand in respect of the year 1908 as against £31,893 in 19Q7.' After these appropriations tho balance remaining to the credit of revenue account at December 31 was'£9l,9l3, which.the directors recommend should be applied, asfollows:—To payment of a bonus of :2s. . per share, £49,590; to be' carried to a reservo, £20,000 (making a total reserve of £160,000); . and : to be carried forward, £28,353. -The honus'now recommended makes a total distribution of 17s. per share in respect of the year 1908, as against 16s. per share in tho year 1907. . Since the date of the accounts to March ,20,84,303 .tons (of 20001b.) of ore havo been treated; yielding £201,853, and a dividend, No. 64, of 4s. p<jr share, was paid on March 1, absorbing £99,181." The directors propose to pay a similar dividend of/4s. per share on June 1, 1909," at the' same • time that the bonus of 2s. hereinbefore recommended will be payable. The ore reserves at • December 31 wero estimated at 1,329,872 short' tons, as compared with 1,299,979 short tons 31, 1907.

TALISMAN GOLDMINING COMPANY. ' i (B? TELEaBAFIt—h(eS3 association.) • ■ - Auckland, June 16. Advice' has been received from London that, at the annual general meeting of the Talisman Goldmining Company, held there yosterday, the directors' report, accounts, and tho payment of a were approved. Mr. • MacAlister was rb-deetcd to the directorate.