MINING COMPANY MEETING.

Thames Star, Volume VII, Issue 2623, 5 June 1877, Page 2

MINING COMPANY MEETING.

Queen of the May G.M.Co. ' > The half-yearly meeting- of, the shareholders of this company was held ,At, the , Governor Bowen Hotel at 3 o'clock' this afternoon. There - were, 12 shareholders present, and Mr W. Wilkinson was voted lo the chair.- - •

The Chairman,read? the advertisement calling, the meeting, and then the legal manager read the minutes of the previous half-yearly meeting' and of "the special meeting, which were confirmed. Ti'.j directors report wrs theniead. It began by lefewing to the prosperity of the mice tbrough the past -half-year. I £1760 bad been paid, in dividends,! being 4s pec share, and 8s on the double^ issue. Kefe.ence, was then made. to ,the Jarge I amount of prospscfeing that has lately been done. A contract, had;been,let.for sinking the stope for another level.' 1784 i loads of qua^fz'-had been crushed for the 1 yield of 2415bzs ldwt gold, valued at 1 £6455 4s 9(1. The tailings realised £85. The expenditure had been £4732 5s 7d, leaving at date of cksing. accounts a balance,of,£342 15s 4J,on hand,.,. Since closing of J accounts £031 "6s* htA 1 keen leceived^for 234ojjs :ißdwts:- gold, and £387 Is 3d had--been paid oat for wages;."leaving a.balance to-;the company's credit' of" £607" Os* »ld. Accounts, .r-rendered for month of May amounted to £100_10s sd. The report then referred to the representation of the .company in the Waio-Karaka Pumping Association Committee, and staled that they contributed about £75 per month, which the directors did not consider unreasonable, being at .the tame rate as the City of London. The directors had endeavored t,o. get the Government to assist in the pumpine, but though they admitted the ■ justness- of : the claim they refused-to contribute. After reference was made .to the grant to the compahyLof "frte' water from the Government Water Supply, the "report stated that the directors had appointed Messrs Wilkinson and Wilson, v*ce Messrs, Fryer and' Prater disqualified.: The report then recommended that the honorarium of £50 be continued for the ensuing 1 six months, and. concluded by stating 'that the directors, were "satisfied of^the 1 good prospects of the miie, and believe i, that future., dividends would reward the shareholders. The balance sheet was also. read. It showed a balance of £342 15s 4d in the Bank of New Zealand, and some small cash in the manager's hand. v The mine manager's report was then read, and gave an account of the different work 3 done in the mine since the last halfyearly meeting. The Chairnr an then moved the adoption of the reports and. .balance-sheet. Thii was seconded by Mr Binney, and carried. A-vote of thanks'to the Chairman con* eluded the meeting. ~