RENOWN COLLIERIES
SATISFACTORY PROGRESS “We have had a hard row to hoe biit I am confident that when we meet here two years hence the outlook will be much more cheerful,” said Mr. H. R. Mackenzie, chairman of directors of the Renown Collieries, Ltd., at the second annual meeting yesterday. In moving the adoption of the annual report and balance sheet the chairman stated that up-to-date machinery was being obtained, and the best endeavours of the directors would be extended for the benefit of the shareholders'. In answer to a question regarding tramway and allied contracts, the chairman stated that work was now being carried out on the cooperative system, and would be completed within the amount of the original tender of ,£29,161, and also that all tenders had been let below the estimates of the mine manager. To bring the mine to the working stage, £44,057 was required, and toward this cost £40,138 was available. Therefore the company was not more than £4,000 short, and against that, there were still 30,000 shares in reserve. The report and balance sheet were adopted. Messrs. W. P. Endean and D. Holderness w4re re-elected to the directorate unopposed.
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Sun (Auckland), Volume 1, Issue 186, 27 October 1927, Page 14
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195RENOWN COLLIERIES Sun (Auckland), Volume 1, Issue 186, 27 October 1927, Page 14
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