MINING NEWS. NEW MOANATAIARI GOLD MINING COMPANY. ANNUAL MEETING.

Te Aroha News, Volume II, Issue 425, 4 December 1889, Page 4

MINING NEWS. NEW MOANATAIARI GOLD MINING COMPANY. ANNUAL MEETING.

Auckland, Nov. 30. Yesterday afternoon the first annual meeting of the New Moanataiari Gold Mining Company was held in Mr F. A. White's office, Mr J. M. Alexander in the chair. The report presented by the directors for the year ending 31sb of October, 1889, stated that when the Company was registered the number of shares allotted was 40,649, since that date 1,500 were allotted the brokers in connection with the floating of the Company, in lieu of cash as commission ; 100 shares, paid up to 3s per share, for Don Pedro mine ; 600 shares, paid up to 3s per share, for Moonlight mine ; 4,000 shares, paid up to 3s, as part purchase of the Reuben Parr Company's mine; and 3,151 to sundry shareholders resident outside the colony ; making a total of 49,906 now issued. The statement of accounts and balancesheet showed the year's receipts to October 31, 1889, to be £7,810 18s 3d, and that the expenditure left a credit balance of £426 16s Id. The total amount of gold received amounted in value to £2,175 7s 3d, The mine manager's report, which was read, detailed the work done by the manager (Mr G. S. Clark) since- he took charge of the mine in February last, and recommending the carrying out of ceruain extensions in the working of the Company's property, which, it is stated, will not only prove profitable to the shareholders, but beneficial to the whole district, as they will open up a large extent cf auriferous country which has been lying idle for many years. On the motion of the Chairman, seconded by Mr James Reid, the report and balancesheet were adopted. Mr J. Reid proposed that Mr J. Friar Clarke be elected to fill the vacancy caused by the retirement of Mr J. M. Claik, and that Mr C. Alexander be re-elected a director. Mr J. Frater se onded the resolution, and it was carried. On the motion of Mr J. Reid, seconded by Mr F. Hall, Mr D. B. McDonald was reelected auditor, at a remuneration of five guineas. A vote of thanks accorded to the Chairman terminated proceedings.