RISING SUN COMPANY.

Otago Witness, Issue 2894, 25 August 1909, Page 29

RISING SUN COMPANY.

Annual Meeting.. The annual mee<tnig of the Risino- Sun Comnanv was hold in the company's registered office at Cromwell on Saturday evening. A gcod number of sha ix? holders were present. After the secretary (Mr L. Harris) had read the minutes "of the previous annual meeting, tho chairman of directors (Mr James I>. Scott) read the annual report, -which \va« a^; follows: —

"Your directors have much pleasure in again meptim^ you after another successful year, r]urin# which, in spite of six weeks' delay in effecting repairs 12 months airo through the line being blocked with snow for a forrnifrht, your dredge worked 45 weo-ks, and the a\erage of gold won come-, to within a fi action of 440z 13d wt peaweek. Nine dhidends have bopti paid this jcar, being at the late of 45 pc-r e<Mit. on the capital, an<l makiirj a f-oial of 24s re<tt'rnoc? to fchjrcholdi'r 5 - Th" ipfcno fund now amouM': to £714 10s at fixed deposit. 7ho ekctiic li^ht ha« be>?i in -tailed on the drfl^e, enabling a:n* rocwar.N repairs to be eo^uted at nig-Jit. Adhering 1

to out usual policy of keeping the dredge in a thorough state of efficiency, a netv steel crown wheel and forged steel top tumble r have been erected. The splendid dredging time recorded, and the paucity of stoppages for repairs, is ample proof that our dredigemaster, engineer, and crew, individually and collectively, have the welfare of the company at heart, and •deserve th© thanks of the shareholders. Prosperous as tile last two years have been, there is every indication that there will be a long continuation of them, as the rich run of gold the Shine No.l dredge is on is running towards our bottom boundary, and the latter dredge is only about 300 yards from it. Many years dredging exist in the lower portion of your claim in the flat. Messrs Gilki&on and M'Kean are the" retiring directors, and, being eligible, offer themselves for re-election." The Chan-man then moved the adoption of the report. The motion was seconded by Mr Henry Pocock, of Alexandra, and carried. Messrs Gilkison and M'Kean, the retiring directors, were re-elected, as was likewise Jlt Porteqjis (auditor). Both Messrs Gilkison and M'Kean, in returning thanks, highly eulogised the dred-gemaster, engineer, crew, and secretary for the earnest and- faithful manner in which they had carried out their duties, { and it was this the shareholders had to thank for the unprecedented good dredging time recorded, as beyond the annual overhaul, stoppages from various causes * were very few and far between. A hearty vote of thanks to the staff was proposed by Mr Jameson, and seconded by Mr Pocook, and unanimously carried. Mr Jameson, a local director, stated that he was much impressed with the new forged steel top tumbler and steel crown ■wheel just put on the dredge ; also with the alterations made in the tables, which now had a run of 50ft inetead of 18ft as formerly, and he was satisfied, as an old miner of over 40 years' experience, that the expense "incurred in the alterations would* be amply recouped in a short time by the extra quantity of fine gold that would be saved, and which hitherto had been lost. A |iea.r>ty vote of tihanks to the ohair, proposed by Mr Gilkisop aj*d seconded byMr M'Keaaii, clc&ed the proceedings. |