NEW ALBURNIA GOLDMINING

Te Aroha News, Volume VI, Issue 304, 3 October 1888, Page 3

NEW ALBURNIA GOLDMINING

♦ — i.£jg The annual meeting of shareholders in fchi3 company was held on September 28,, at the office of the legal manager, Mr D. Q. McDonnell, New Zealand Insurance Buildings. Mr Charles 'Alexander presided., ■ y<- + The director^' third annual reporb"aticV balance-sheet, for bhe year ending September 20th, were presented. The_rej)oj:t,wafO as follows: — "In presenting you wi£hour~ report and balance-sheet for the past year, we are pleased to state that the result of the year's operations, though not such as to enable us to .declare a dividend, are nevertheless satisfactory in co far as that no calls havebeeninadeontheCompany'scapital,and thatthpnet profits for the year amount to £338 4s 6a.'. which amount will assist largely*towards enabling us to declare a, dividend, as we hope todo so at no distant date. The mine manager's report, herewith submitted, gives such full particulars of all Y works, carried out during the year,* and oljt those now in progress, that' ,it is^ not necessary - for us , to supplements same further than by the remarks pre-}| | viously made re prospect of our soon being^ i enabled to declare 'a dividend. In pursu— . ance of the Company's rules, the present M directors and auditor retire from office, ~< being eligible tor re-election,-L offer themselves >/ for - same.". ""'Th^ i: mine manager, "Mr Thomas Gilmour,^ I submitted a report of the operations carried ion in the mine -during the past- twelve, months. It was shown that -for , the .year* the tributers had crushed 488 loads, for a* yield of 138ozs gold, paying, the .* Com J »pany in percentage £430. The^ re-] port stated that there were. • atl present nine parties of tributers, working. mj| the mine, in all 31 men, nearly all on quartz! •of v a moderate' payable quality. Th^ere'l were on hand 621b picked stone' arid^ls| •loads quartz. ' • ' <;\^"^M The balance sheet showed that ,this^ex|l penditure for the past year was t £Bo3..oB'£ld^ and receipts £1,141 4s 10s, leWing-^a *ne^ proficfor the. year- of' £33B 4s"6d, an(i?casK?j balance on hand of £343 Is lOd. , Aib^y;^

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