WAITEKAURI.

Te Aroha News, Volume IV, Issue 206, 4 June 1887, Page 3

WAITEKAURI.

Snelgar and party, tributers in the Maungakaiu mine, luive made armngements for the use of the batteiy, and, consequently they have resumed operation?, and expect to Le able to makewages with the off chance of dropping across a gnoii patch at any moment. In the Waite-kauri mine ilollis and paily, tributers, aie breaking enough Hushing diit to keep twelve head of stampers running, and the stuff is shaping for a romuneratne return. Biruey and p;*i t y, tiiUileis in the Welcome niii.e, ha\e had a iuu of bad luck ; their niai.i ievel having come to gnof just as tuoy were leaJy to slait stoping operau.in?, and tins necessitates the driving of a new level, with a con<i ierable loss of tune and money and no .small amount of inconvenience to the nut'ertunate tributers. The conglomerate outcrop of quartz and sandstone in the New Zealand mine, which is now being worked on the tiibute system by Mason and party, is yielding a fair amount of good crushing diit, which should pay the tributers very well for treatment.

Karangahake Quartz I£e<Uiction and Mining Company, Limito !. — The annual genur.il meeting of shareholders was held on May 23rd, at the company's office, Mr Charles Alexander in the chair. On the motion of the chairman, seconded by Mr J. Howard, the report was adopted, and balance-sheet was pas3ed. The retiring directors were Messrs Nathan and J. Chambers. Messrs L. D. Nathan and H. Green were elected directors ; Mr T . A. Menzies was rcappointed auditor. The Cliaiiman gave a lengthy explanation of the proceedings of the company in a forcible speech. Mr Green followed, pointing out the efforts which the com pany had made in erecting their works at Karangnhake, and the difficulties it had to contend with. A vote of thanks to the chairman and secretary closed the proceedings. Subjoined is a copy of j the directors' repoit: — " Your directors have the honour to submit their annual report and balance-sheet. The summary up to the 10th instant is as follows : Receipts— Calls received, £2815 j cash on loan, £300 19s 5d ; battery earnings, £461 IBs 9d ; bank overdraft. £189 Os 8d : total, £3760 18s lOd. Disbursements— Cost of works to 10th instant, £3398 0b 9d ; wages, £372 18s Id : total, -j706 18s lOd. Since the date of the erection of the works, ! ti eating quartz for the public has been curried on at a great disadvantage in consequence of there being no tramway from the mines to the works. The conveyance of quartz has been delayed, making it impossible to keep the mill constantly going. It is to be hoped that tho miners will appreciate the efforts made on their behalf by the erection of tho works, and do all in their power to remove the objection of tlfe Government to pay the promised subsidy towards the construction of the tramway. The success of the company depends very much on the completion of the tramway from the county road to the woiks, and the directors hope soon to see that important work finished and in full operation. The works have cost far more money than at first contemplated, and tho dirco'ors would point that there are 2775 shares of the company's stock still to dispose of, the sale of which at par would enable tho company to meet its engagements, and place it in a sound financial position. The reining directors are Messrs J. Chambers and L. D. Nathan, who are eligible iov le-olection. — Herald.

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