CULLIFORD GOLD – MINING COMPANY.

Nelson Evening Mail, Volume V, Issue 283, 1 December 1870, Page 2

CULLIFORD GOLD - MINING COMPANY.

The annual meeting of shareholders of this Company was held afc the Assembly Room last night, Dr. Williams in the chair. The following report of the directors was read and adopted : — To the Shareholders of the Culliford Gold-Mining Company (Registered). Gentlemen — Since the last halfyearly meeting of shareholders, your Directors have carried out the promise they then made to push on with vigor all the necessary workings of the mine at Wangapeka. You will be best able to judge of the nature aud extent of those workings from a report by Mr. Henry, which will be read to you to-night. In order that your Directors might be in a position to regulate all the works at the reef, and also that you might be put in full possession of all that has been done on your property, they deemed it advisable that one of their number should go to Wangapeka. At the request of the Board Mr Henry went to the reef, and the following is his report. (Mr. Henry's report, which has already appeared iv our columns was then read.) Since the report was handed to your Directors by Mr. Henry, all the machinery has been lauded on the ground, and the greater part of it put together, and Mr. Biunie, the Engineer employed by the Company, says that in all probability the machine will be put in full working order before the tramway and water race are finished. Your Directors have also been informed that the tramway is being pushed on with an increased number of hands having been employed by the contractors, and your Directors believe that the first crushing will take place about the beginning of the year, should nothing, at present unforeseen, come in the way. Your Directors have every reason to believe that the Company's property is a valuable one, but they have no information up to the present time to enable them to form a decided opinion upon it, nor can they do so until a crushing has taken place, but they believe that you will get good interest for your outlay, and they also believe that a moderate return will pay good dividends, as, after the mine is in full working order, they consider the working expenses will not be heavy. A statement of the accounts up to the 12th inst., as signed by the Legal Manager and Directors, and certified to as usual by the Auditors, will be read to you. (Signed) George Williams, Chairman of Directors. The retiring Directors having been reelected, and Mr. Milner appointed in the place of Mr. Culliford, resigned. The following accounts were read and passed, and, after a vote of thauks to the Chairman, the meeting separated. .

PKOFIT AND LOSS ACCOUNT, to November 12, 1870. Dr. £ s. d. ; To balance 620 10 10 Cr. £ s. d. By Working expenses 1 10 0 Gold 8 13 1 Tunnel account 312 16 8 Quartz paddock 34 19 11 Main shaft 124 17 0 Tunnel drives 14 0 0 Upper drives 86 2 0 Printing and advertising ... 4 4 0 Working materials 23 15 2 Miscellaneous expenses ... 6 10 0 1 Auditors' fucs 3 3 0 £620 10 10 ("Signed and certified to as former accounts.)

LIABILITIES. £ S. d. Calls due on 100 shares held in trust for the Compsny 250 0 0 , Working Manager's account received, but not presented for payment ... 260 7 II Salaries, Legal Manager 54 0 0 ! Outstanding accounts 83 12 7 Contract, carriage of machinery ... 65 0 0 Balance due at Union Bank ... 239 7 0 £972 7 6 E. & 0. E. Nelson, November 12, 1870. (Signed) Wm. Stavert, Legal Manager.

GENERAL STATEMENT OF ACCOUNTS to November 12, 1870. Dr. £ s. d. Balance from June 30 483 4 9 Receipts on account 2nd call ... 171 5 0 „ 3rd call ... 321 17 6 Interest on overdue calls 5 5 Gold account 7 13 9 Balance due at bank 259 7 0 £1243 13 5 Cr. & s. d. Preliminary expenses 113 1 5 Tramway 31 16 6 Machinery ... • 367 15 10 Mines and Plant 48 15 10 Tools • 6 1 3 Road to township ... 55 11 9 Profit and loss account 620 10 10 £1243 13 5 E. & O. E. Nelson, November 12, 1870. (Signed) Wm. Staveut, Legal Manager. (Signed) Geore Williams, Edward Everett, H. E. Curtis, Wm. Elton,' James liENitr Directors. We hereby certify that we have this day examined the above accounts with the books and vouchers belonging to the Company, and find the same to be correct. (Signed) Alfred Hibble, H. D. Jacksok, Jno. Percy Auditors. STATEMENT op ASSETS & LIABILITIES to November 12, 1870. assets. £ s. d. Paid to Prospectors for mine ... 1000 0 0 Paid-up shares 60U0 0 0 Calls due on 2nd and 3rd calls ... 562 10 0 Calls due on shares retained in trust for the Comgany 2/50 0 0 Tools, plant, &c 608 8 4 £8420 18 4