NEW PRINCE IMPERIAL G.M. COMPANY.

Te Aroha News, Volume VII, Issue 430, 21 December 1889, Page 5

NEW PRINCE IMPERIAL G.M. COMPANY.

A MM/riMi of shareholders in the above Company was held at 2.50 o'clock Ihis afternoon in Mr D. G. MacDonnell's oflice. Mr Dickey presided. Annual Report. —The manager lead tho annual report, showing that this time last year the indebtedness of the company was £833 0s 4d, and the outlook somewhat gloomy. Expenses had been reduced during the year, and the battery was sold to the Saxon Company for £852. This with the return fiom tributers had enabled the directors to pay oft" all liabilities,and now the tinaneial position was much sounder than it had been for some time past. Theprospccts of the mine had also impyo\ed, The balance-sheet submitted showed the receipts for the year to be £1,918 11s Id and the expenditure £1,842 0s 7d. In that expenditure ia included £833 os> 4d due on the la&t years' accounts. The liabilities now are only C 37, and the assets £2,570 10s 6d ; being £1,371 9s 5d in excess of last year's assets, notwithstanding that the value of the battery was included in last year's assets. This was most gratifying, and there was reason to hope from the improved pro&pects of the mine the result of the ensuing year's operations will be still more satisfactory, In pursuance of the rules Messrs Dickey and Smith retired from the directorate and Mr Menzies from the auditor&hip, but offered themselves for reelection. Balance-sheet.— The statement of accounts showed receipts from various sources to have been £1,918 lls Id and the expenditure £1,842 0s 7d. The liabilities amounted to £37 and tho assots £2,576 16s 6d made up as follows : By cash balance £76 10s 6d, and estimated value of mine and plant £2,500.