Moanatairi Gold Mining Company.

Thames Star, Volume VIII, Issue 2899, 31 May 1878, Page 2

Moanatairi Gold Mining Company.

ANNUAL MEETING,

The tenth annual general meeting of the shareholders of the Moanatairi Gold Mining Company was held iv the large room of the Insurance Buildings at noon yesterday, the chair being occupied by Mr C. B. Stono.

Dibkctobs' Repobt.—The Directors' Report, read by Mr F. A. White, showed that: After increasing the Reserve Fund to £5442 10s, rud pay;ng £1395 16s 6d for the erection of rock dri", purchase of Red White and Blue, Evening Star, and Golden Age mines, £1642 ; and extending main tunnel, £1033 4s lid; the shareholders have received in dividends the sum of £38,083 15s, beimj £2 15s per share. The Ingersoll drill has been a great acquisition to the Company, and during the eight months it has been in operation the tunnel has been "extended 715 feet, which only cost a little over 25s per foot to drive.^ The Directors hope soon to be in a po.ition to open up an entirely new section of the mine, and from which they expect to obtain good results. The area now of the Company's mine contains 198 men's ground, and the shareholders may look forward to realize a good return for years to come. The Directors, recommend that the usual honorarium of £250 be appropriated for their services during the past year. . Mine Mana&eb's Repobt.—The report iof:Mr R. -Comer, mine manager, showed the progress made 5n the workings of the mine. BAiiANCB-SHEET.-r-Mr "White read the tenth annual balance-sh3et, which showed: Receipts—Gash as per balance sheet, 30th April, 1877, £6,81813s 9d ; gold, £57,717 4s ;■ crushing, &c, £1,918 10s 9d; miscellan ous, £416 10s sd; from Bismarck (Gr.M.Cd., £250; from 'fixed deposits, £2,0C3. Total, £69,120 18s lid—Kxpenaifcv—From creditors. £546 10s lOdj mine and battery expenditure, £23,395 7s 10d;. head-office, £621 11s lid; cost manager's house, £352 158 4d ; purchase of mines, £1,642,; reserve fund, £3,692 10s; dividends; £37,093 15s; cash, £308 19s 9d; -cost and erection of rook-drill, £1,407 8s 3d. Total, £69,120 18s lid.

Statement of accounts.—The statement of accounts shewed the financial position of the mine as follows.—To creditors—£6oß 2s; capital, £131,468 155.; profit and loss, £20,748 Os 4d; total, £152,834 17s 4d; by debtors, £153 17s lOd; mine, £133,120 15s Od; tunnel, £24579s lid, machinery, £10,421 13s; water supply, £576 16s 6d; manager's house, £352 15s 4d; reserve fund, £5442 10s; cash, £308 19s 9d ; total, £152.834 17s 4d.—The Chairman moved the adoption of the reports and balance shf et.^The motion was seconded by Mr J. L. Wilson and agreed to. Election of Dibectobs.—Mr Alexander moved, " That the retiring directors— Messrs Reals and Wilson—be re-elected."

Seconded, by Mr Thos. Macffarlane, and agreed to". Auditobs.—Mr T. Macffarlane moved " That the two retiring auditors—Messrs Fraser and Waymouth be re-elected, ,and that the amount of remuneration be £20 per annum.—Seconded by Mr i lexander, and agreed to., -■■■• - AvotTof thanks to theehairman, moved by Mr W. Swanson, concluded the meeting.—Aucklaud Star."