THE WAIHI MINE.

Dominion, Volume 4, Issue 1042, 3 February 1911, Page 5

THE WAIHI MINE.

ANOTHER DIVIDEND OF 4s. (By TelcsraDU-Prcss Association.) Auckland, February 2. Advice was received by tuo local office of the Waihi Gold Mining Company today that tho directors have declared another dividend, the 72nd, of is. per share, payable on March 1. This will absorb .£!>9,181 Bs., nnd will bring tho total dividends and bonuses declared by tho company to .£1,1G0,C85 12s. Bd. Tho total value of the bullion won from the mine to date is i60,09C,291). . . ■ DISCUSSION BY AUCKLAND STOCK EXCHANGE. (By Telegraph—Press Association.) Auckland, February 2. When (he Auckland Stock. Exchange resumed the consideration of the motion of Mr. Masfen at noon to-day "that a letter be sent to the directors of the Waihi Company," the mover said he did not think thbre was any need to waste much further time upon it. Since the last discussion a dozen or more shareholders in the Waihi Company had met him in the .streetjiaml asked why they were , not asked to attend, lie thought, therefore, it would be as well for him to withdraw his motion in favour of the ono in regard to calling a meeting of shareholders.'..With his seconder's consent he would adopt that course. - Mr. F. Hull (chairman).also considered that would be-the-bestcourse to adoptHe, however, !'suggested''th!it persons"who had been shareholders during the past few months, but who had sold out, should also have 'the right to ho present if the meeting was called. He asked if mem- 1 bers were in favour of allowing late shareholders in the Waihi Company to attend tho meeting. Mr. Miisfen pointed out. that persons who had sold out had no further right to address the-.directors upon the matter of the inanajjement of the mine. It was similar to a man taking action in an estate when he had been left out of the will. The chairman said they could invite shareholders and allow the others to attend on the understanding that in tho event , of a vote being taken only those at present shareholders should record their votes. . i Mr. Masfen said that any resolution must either como from bona. fide shareholders or else from the Stock Exchnnge. Otherwise it- would nullify what was done. . • Tho chairman: In that case then we had better leave- it to a meeting , of shareholders. .

Mr. Horrocks considered that the late shareholders should bo invited to attend, as it was thoso who had sold out at low figures who had suffered. Those Ecople who bought in at the low figures ad not suffered loss. .Mr. W. Colbcck said it seemed a pity to him that' Mr. Masfen had withdrawn ,his motion and agreed to a compromise. It was not the business of tho Exchange to call shareholders together. If shareholders wanted to have a. meeting they sHould call it. , themselves. He would therefore have preferred that Mr. Masfen's motion had been, submitted to the vote as it was. moved. The chairman said llr..Masfen had no doubt withdrawn his motion feeling that it was wiser to secure unanimous action of some shape. i Mr. Masfen said that he did not allow his motion to" go to tho vote simply because he saw it would be thrown out. Had that occurre'd it would have seemed strange that Auckland, where the mine was located, had dono nothing in the matter. - - ■ ■ ■ ' Mr. regretted that the motion was withdrawn and agreed with ■Mr. Colbeck that' it would have been better to put'it to the .vote. If-.they: went down then they would , have dono so with their k flag flying, and would have 'shown that they were trying at all events to do something in tho" interest of "the" shareholders. . The motion was then put and carried, viz., that a meeting of ehareholdmjK convened by tho Stock Exchange. "It (Was also further agreed that those who had been shareholders within ■ the last nine months be also invited. to attend. .

"HISTORY. OF THE MINE. In view ,of "(he position that has now arisen in connection with the Waihi mine, it is'but fitting (says the Auckland "Herald") that n glance should bo taken at the history of tMs famous property, as based upon the. returns to date. • It is one of wonderful- progress such as-20 years ago could never have been dreamt of, and even in its present position the mine must still rank as ono of the world's greatest bullion producers. The returns show that from small beginnings the mine kept'on increasing its output at such a phenomenal rate that in 1909 it reached the present pinnacle of its fame,- the aggregate yield for. that year being no less than .£909,594, or just on one million sterling. Last year the output (corrected.-to July 9, 1910) was and brought the total yield from the mine to date-to Tho returns from year to year are as follow:— TonSof 20001b. Yield. To July 31, 1890".'.:.'..'..: not known £13,G2S July 31, 1890, to De- - ■ .

It is also interesting to note that out of the Xi),o9li;29D' won from the" Waihi mine -'shareholder .{ft r,«'£^2?'P?J l f ]la T? had no less than .Bd. paid to them in dividends and bonuses, the yearly distributions having been as follow ;—1893, 3s. per share; 1891, 4s. per share; 1895, Bs. per share; '1896, Bs. per share; 1597, Bs. per share; 1898, Bs.. per «hare, 1899, Bs. per share; 1900, 10s. per share; 1901, 10s. per share; 1902, 10s. per share; 1903, life, per share; 1901, 12s. per «hare; 1905, 13s.'per share; 1990,155. per share; 1907, lGs.per share; 1908,. lis. per. share; 1909, 18s.. per.share; 1910,.185. per share. ':■'■■ ' " "- ■

cembev'31, 1891......... not.knwn.;. 36,4,58 1'or tho year'1892-V„" 20,492'; - 46,219- ' „ : '1893 "".'.'" 22,182 .64,345 1891 ...' 27,840 83.023 1895 ... 37,710 120,335 1S9G ... 38,539 " 135,156 1897 ... 45,658 • 144,041 1898 ... 87,280 .. 256,494 1899 ... 114,607 302,525 ' . „ 1900 ... 125,453 317,902 1901 ... 178,444 . : 461,206 .'J 1902 ... 201,023 "531,574 -J903 ... 259,082 . 658,393 ••■ , ,o-1904 ... 291,176 683,882 '1905 ... 298,531 728,521 , ' 1906 ... 328;86G . 837,927 1907 ... ! 356,974 . . 878,485 1903 ... ■ 393;2H 930,511 ' ■ • - 1909 ... 416,813 •■ 959,594 „ J 1910 ... . 442,020 916,081 Total .„...'......;.....'. •' ,j., : i9,09G,299