TOOKEY COMPANY.

Thames Star, Issue 1785, 22 September 1874, Page 2

TOOKEY COMPANY.

The quarterly meeting was held at (he Eoyal Hotel on Monday, 31st August;: Mr. Morgan Lee in the chair. The direc- ' tors reported as follows :—" We have the honor to report uninterrupted sinking o f the Tookey shaft until meeting .with; the drive put in from the United Pimping ; Association shaft at their 400-feet level by which complete ventilation has been secured for both shafts. Arrangements have been made at the joint cost of iQ A lbiou and Tookey Companies to pii t in a drive to the northern boundary, and by the Imperial Crown Company, at its own cost, to continue the level to the eastwai-t!, for the purpose of testing the supposed, continuation of the rich lode recently dis-, covered by the Manukau; this will allow' of an estimate being made as to the depth at which such l«de may be cut in ihe Tookey shaft. At the 202 and 300-feefc levels operations have steadily progressed without marked improvement. During the. term two special resolutions hav^o been unanimously passed by an extraordinary meeting—-the firsi, authoriisin- ah increase of capital by the issue of 2Q,000 shares of £2 each; the second, empowering the directors to mortgage the claim and plant as security for the repayment to the .New.Zealand Government by the Tookey Company of its proportion of a loan of £50,000, advanced by tie Govern; ment to the United Pumping Association.' An extraordinary meeting will be convened to be held on the 11th* September proximo, for the purpose of confirming the resolutions referred to. it is not intended to take immediate action in reference to the augmentation of capital, but to permit erents to influence your directors as to the time for issuing the new shares, and determining the amount of allotment foe. During the quarter now ended, one call of 5s per ihare has been made (absorbing the present capital), due and payable on the 25th instant. Time for its collection has notyet been afforded/ and to this must be attributed the item appearing in the list of assets as unpaid calls. The receipts for the term, from all sources (including balance of £680 8s 8d on the 23rd May lust), amount to £3,838 Is lOd, and the expenditure to £1,52016s lid, leaving a credit balance at banks of £2,317 5s lid.—W. Hy.Baeiubd, Chairman ; E. W. Spain, Manager." Eeceipts for quarter ending 24th August, 1874— Balance, 23rd May, 1874, £680 8s Bdj calls, £2,428 10s; gold, £332 6s 2d; smith's work, £350 lit 3d; forfeited shares, £37 6s; sundries, £8 19s 9d; total, £3,838 Is lOd. Expenditure included -Wages, £385 17s 8d • contract labor, £222 17s 9d ; tributers, £237 111, 7d ; fuel, £131; ironmongery, £102 6s 9d; balance, Bank of Australasia, Ballarat, £1,637 'lOs; do, Bank K.Z.;. Auckland, £679 15s lid. Thegeneralbalance-sheet showed that called-up capital amounted to £47,992 ss; gold, £26,826 7s 9d; premium account, £4,000; some smaller..> ■■ sums make a total income of £106,271 17s sd. The chief items of outlay were— Claim, £40,000 ; tribute, £21,393 4s 8d ; United Pumping Association, £17,500; wages, £6,621 18s 7d; Machinery, &c, £6,133 2s lid; contract labor, £31916 2s 7d. Assets-—Unpaid calls, £2507 15s; plant and machinery, say, £4,000; interest in United Pumping Association, say, £3,000; smithy, plant, and outstanding accounts, £337 7s sd; balance in banks, £2,317 5s lid; total, £12,152, 8s 4d. Liabilities —Proportion of loan to United Pumping Association, £1,800; sundry accounts, say, £400. The auditors reported the accounts correct, and the reports and balance-sheets were adopted.— Ballarat Star.