MINING IN INDIA.

Hauraki Plains Gazette, Volume XXXVIII, Issue 5126, 16 May 1927, Page 3

MINING IN INDIA.

ENORMOUS SUMS INVOLVED. Quoting from “The Mining World and Engineering Record,” an English weekly publication, the following interesting information concerning mining appears:— “The report of the Mysore Gold Mining Co. (South India) for last year shows that the profit has increased by £23,847. Except in the year 1924, when the average price realised for gold was more than 8s an ounce above normal, 'the earning power of the mine 'has for some years past exhibited steady expansion. The working profit for 1922 was £186,723 ; 1923. £197,896; 1924, £234,439 ; 1925, £204;158 ; 1926, £228,005. Economies initiated have not only been maintained, but extended. For instance, in 1922 the revenue expenditure- showed a reduction of no less than £65,000, as compared with the previous year, and in the four succeeding years further reductions have been reported as follows : £37,000, £20,000', £17,000, and £34,000 The company is well able to pay the 25 per cent, per annum dividends which it has declared for the last three years, and, after allowing for liabilities, its liquid assets at December 31 last amounted to £397,000' —equal to nearly two-thirds of its nominal capital. The mine is showing improvement, although the directors cannot yet report any ‘discovery of outstanding importance.’ What may well prove to come within this category, however, is the interesting development in Rowse’s section, a lode assaying just under four ounces to the ton for a width of 3ft 9in having made its appearance at the 70th (or bottom) level. The- shares have risen during the week, and are now about 16s 9d.”

This mine, which is 5600 ft in vertical depth, was at one time partly managed by Mr A. E. Argali, Moore Road, Paeroa, for nearly eleven years.