THE CROMWELL GOLDMINING COMPANY.

Dunstan Times, Issue 853, 23 August 1878, Page 3

THE CROMWELL GOLDMINING COMPANY.

Tho half-yearly general meeting of tho Cromwell Qnartzmining Company (Limited) was held in the office of tho legal manager of the Company, Mr J. A. M'Kenzie, yesterday afternoon. The chair was occupied by Mr C. S. Reeves, and the minutes of the previous meeting having been confirmed, the legal manager read the following report for the half-year ending 31st December, 1877 :

Gentlemen—We have to report that during the half-year ended 31st December your mine has yielded a fair return—two dividends, amounting to L 2240, having been paid. Tho quantity of stone crushed amounts to 2022 tons, producing 1017oz. lOdwt. 7gr. The reef extends for a distance of 3000 feet from cast to west boumlary, and of that space only 400 feet has been worked to a depth of from 200 to 330 feet. From the stone in sight there is quartz enough to keep the mill employed for a considerable time to come. Your Directors arc satisfied that after tho erection of the new machinery, which is expected to be finished by tho middle of February, and the completion of tho main shaft, a considerable improvement in the returns of tho mine will take place. Tho erection of the turbine and machinery has entailed a cost of LIOOO." The receipts and expcnd'tnre for the same period were as follows ;

The Chairman moved the adoption of the report, which was seconded hy Mr J. I). Walker, alid carried. Mr Nashelski proposed, and Mr If. A. Low seconded— “The election of Mr G. W. Goodger to the Board of Directors, vice. Mr 11. R. Baird, n signed ’’—Carried. A veto of thanks to the Chairman and lo the Directors, concluded tire business of the meeting.

RECEIPTS. £ 8. d. 1ST". July 23rd. To Balance in Bank 689 10 9 A 1 ranee of 70,? per oz. on 1617 oza. 10 dwtu. 7 Era. 5,001 0 0 A-say returns on 2407 ozs. 12 dwts. ICgrs. 123 0 5 Horse sold 10 0 0 .Balance due Bank. allowing for che vies outstaml17S 17 11 £6, CCS 4 1

EXPENDITURE. By Dividends [paid 2,2-10 0 0 Waqes 2,027 4 4 Materials—machinery 891 3 5 Cartage and pmitage 14-1 1 0 Horse feed 240 o 0 Bent of leases ... 42 10 0 Salaries 112 10 0 Auditors’fees (2 h df-ycars) S s 0 Sundries C3 4 10 Advertisin'* 3 1 0 Interest to Bank 19 G £6,003 4 1