MINING COMPANY MEETING.

Thames Star, Volume X, Issue 3178, 26 April 1879, Page 3

MINING COMPANY MEETING.

Albtjbnia G.M.Co.

The annual meeting of this company was held on Thursday afternoon, in the large room of the Insurance Building. Mr Thomas Macffarlane in the chair. The directors' and mine manager's reports were read and adopted ; also the balance-sheet. The directors reported that their last year's operations were sufficiently satisfactory to admit of the sum of £6000 (15s per share) to be paid in dividends to the subscribers. The stone raised and crushed during the year amounted to 3353 tons, producing 52340zs of gold, of the value of £13,508 12s Bd. The mine manager's report wa9 full of important and satisfactory details. The sum of £250 was appropriated to tho Board for its services during the current year. Mr Newman asked how the reserve fund was invested, and tfhat amount of intereitit bears? The chairman replied 6 per cent. Mr Newman thought £4,000 was too much to be kept back for a reserre fund, whilst the shareholders were paying 10 per cent for money. Mr Stone said the money was safely invested at call, and he objected to the reserve fund being lessened. The reports and balance-sheet, were adopted, Mr J. L. Wilson re-ap-pointed director and Mr T. L. White auditor. A rote of thanks to the chairman closed the meeting.—Star*.