MEETING OF SHAREHOLDERS.

Thames Guardian and Mining Record, Volume I, Issue 223, 26 June 1872, Page 3

MEETING OF SHAREHOLDERS.

The half yearly meeting of the shareholders in the Mary Ann Goldminiug Company was held yesterday afternoon. The following report from the directors was read and adopted : “ Report of the Directors of the Mary Ann Goldmining Company, Registered,- held at the Mechanics’ Institute, Grahamstown, oil Tuesday, 25th June, 1872. “ The directors, in presenting their report at this time, have to congratulate the shareholders on the improved appearance of the mine. The directors have been driving on the 200 feet level (ike lowest) along the Red Queen boundary, to cut: the specimen leader of that company and expect to meet with it immediately, when they have no doubt the quartz will prove of good quality. The directors would recommend to their successors in office that the shaft be widened, which is at present five feet by three feet, to eight feet by four feet, and also that it bo sunk another 100 feet, when a good hack could

he got for stoping on the specimen reef of the Red Queen ; and also would further prospect the mine. The accounts, duly audited, are hereby laid before you. The expenditure lias not been very heavy, but it is hoped that the shareholders will support the directors by prompt payment of calls in developing tiie mine, which from its position, should prove valuable, and will, undoubtedly turn out to be of great value. The directors retire at this time.”

The following balance sheet was presented to the meeting ami adopted -Dr. To capital, 10,000 shares at £2. £20,000 ; advances by sundry shareholders, £104; overpaid calls, £2 15s 8d ; sundry creditors, £4O 3s 9d ; total, £20,140 19s sd.—Cr. By estimated value of mine at last balance, £15,313 IGs 8d ; by contracts, £BB 3s Gil ; uncalled capital £4,500 ; unpaid calls, £25 10s; cash in Bank and hand, £55 1G ; profit and loss, new account, £163 13s 3d; total £20,146 19s sd. Profit and loss account—Dr. To balance at last half-year, £lO2 13s Id ; to advertising, rent, miners rights, &c., £6B 7s 5d ; total, £l< l 0s 6 1. Cr. By proceeds of gold, £0 5s 6d ; costs recovered, £1 Is 94 ; I alancc to new account, £163 13s 3d; total, £l7l 0s Gd.