Prince Imperial G.M. Co.

Thames Star, Volume IX, Issue 3003, 30 September 1878, Page 2

Prince Imperial G.M. Co.

The annual meeting of the Prince Imperial Goldmining Company, which was to have been held on Friday at Mr Garland's office, lapsed for want of attendance.' The directors'.report, which was prepared for presentation to the meeting, stated.that the operations in the mine had not been successful during the year. 511 loads, or 756 tons, had been crushed, for a yield of 881ozs of gold, but this return bad not equalled the coßt of procuring the quartz. Early in the year the directors purchased the Ural license for £150 and 170 shares, but this ground had not proved so productive as the directors expected. The directors now considered it more prudent to test the cround by tribute system, instead ot continuing to work wholly by wages men, and they had directed the mine manager to mark off csveral blocks for tribute, and retain a few. men only on wages to prospect the lowest levels. A lengthy and exhaustive report from the mine manager, Mr* A. Ilowe, on the works carried out during the year, the prospects of the various lodes, and recommendations regarding future operations, was also received. The profit and loss account was as follows :—To balance. £7488 4s lid. Mine expenditure: Wages; material, rent, license, &c, £3933 18s 3d • total, £11,422 3a: 2d. Receipts: Gold, £2653 15s 6d; other items, £34 13s lid; balance, £8833 13s 9d: total, £11,422 3t 2d.-Herald. "!L " '-

(For remainder of Newt tee Ist Sf 4th Page*.)