MINING COMPANY MEETING.

Thames Star, Volume X, Issue 3209, 2 June 1879, Page 2

MINING COMPANY MEETING.

i , The annual meeting of the shareholders of this company was h'efd It Auoklifiddir"" ijriday afternoon.^|Jtf||«% jJ. Stone, chairman of the directbrafe, occupied the \

director* beg ta submit-to-,t]i» shareholders the receipts andexpenditure, also the balance-sheet anjcL,profit and loss account for the last twelve months, from whush ife^ilLbejßeen that, notwithaUndinr 'the absence of any heavy deposit of gold/ a the companyfr^fcporerilhantjijaaid ex;pjenses. During the year the directors 'hare purchased at auction, for £95, the New Morning Star Company's ground. There] bMjJbejßnT expended* in permanent works: Sinking main shaft, £797 l 2» 9d; extending main tunnel, £225 10s Id; connecting! tnnne^ with. Point r&usaell,. £860; pipes for rock-drill, £52 S»f6<l# total, £1965 os 4d. The;aboTe items account for the withdrawal of £1873 15s from"th«i resetTehlund, j^hick,fumi ):^ou|;|f directors propose to set aside from this ' year's^ profits preTiou«. ( toiany.dmdtpd. 0 being paid., The annual report of Mr B. Comer, 1 theiriihe managerihetetoanßexed^tj shews the various works carried on in the mine, from which it will*'be/'ieen'vthatnj 7942 toi^s of quartz hare been treated for tho^reMrn sfof5 fof' i48770m0f melted gold; also';cjuring the year the tributers hare crushed 2981 tons of quartz for the retardof 52390z3 melted gold, from which the. company has received the average of 20j per cent.; £2930 6s, besides 'charges]jfotn Crushing their.i quartz. ;^(lTflgfj jthat thej main shaft and cross-cut- %£«% 9 at the 218-feet level is completed, together with the winze being connected with the Point , Ruslelisectionof,theimine^ thfe^rre^tortj £nticipfttev<at£nodistaniM present prospects,provethe forerunnerof Richer depo»jtsj*> $«Jif 'in khpnfionAo, iresume payments of A dmdends to r Sha're-,f holders. The directors recommen cd'||bill^ the usual honorarium of £250 be ap'^ro--,, priated for their .services during thJß,ljpi!fliji year. c'! J' The directors jwhpf^retjiraf.b^-fft^i tioh;aife Meisr^vJi Stone WdxTa-Mdrpiißt and, being eljgible>»Wer themselvefl for-; re-election; It is the" duty of this mee(*3 ing to elect'twoiaudiiorfvloie^hf.i^r* jrent year, and fix,, their renameration. sMessrs'iEraser [f and»^aymouj^jbwtg., s eligiblei soffei .&m™l™*t f^^^f^, 1*? 1' M&»ithe;>dijr<?ctors, C,,fo jman. Auckland;"*. 2§W' "M^ a^B7»^ !Tte£balanoe : sheet f ßhy"wed, .that the reiceipts for thes year;h'ad been'£69,l2o 18s Slid, of- which £57,717.4s_wprth_frpm % i'gold, tribute percentages, etc. Th« ex-% Ipendikrefewatf as upder;>—Oreditofs, pet r balance-sheet, bOth April, 1877, £54610i| lOd; claim, £15,154 5s 4d; batteryr £6,607 17s 7d;, : <maqb.inery-H3ort and erection of rock-drill, £1,407 8s 3d; tunnel, £1,633 4s lid; head office, £691 11s lldj'mknftKOT'gh'ouwCcoitof), J63s2^Ks 4d; purchase of Bed,* White, and Blue £800, purchase of Efening Star mine £42, purchase Of fiolden Agafliine £800, £1,642; reserve fund (to bear interest), £3,692 10b ; -diwidenda, m£P7,083 15s J cash. £308 19s 9d. Total, £69,120 18s lid." The Mine Manager's annual rev port gave aioianlart mti&jmtgJFgfo jand spoke confidently of the future pros* perity of the mine. After the adoption of (the mmM^m^GMjm msms•' [McCosn Clark were elected directors. i Messrs Waymouth and Praser were re* elected auoUtßrsl&n<l;. Mm meogg<m^9 up after the usual compliments to the chair.—Abridged from Herald's report.