QUEEN OF BEAUTY.

Thames Star, Volume XII, Issue 4058, 31 December 1881, Page 2

QUEEN OF BEAUTY.

QUEEN The annual meeting of the Queen of. Beauty Extended Gold Mining Company ■ Was held in Auckland yesterday, Mr John McCabe, Chairman of directors presiding. There were 15 shareholders present. The secretary, Mr D. G. Maodonald, read the annual report. It stated that the drainage question had now been solred, and pumping machinery completed at great expense. Some dead work, such as the sinking of a shaft, remained to be done before profit- , able operations could be resumed, bat probably a winze would at the same time be sunk on the gold, and funds be, .thai got to meet the working expenses. The mine now comprises an area of 70 acres or 210 men's ground, and the direotory 'were convinced that it was still unique on the Thames goldfield for its promises of; permanence and success. TMj balance sheet showed that the reoeipts for the put

— - — - -■ ■—■ —————^ i*e_ year, inolusire of overdraft of £1381, amounted to to £6993; expenditure to £6975; leaving a balance in hand, of £8. Liabilities, £1731; assets, exclusive of the value of reserved shares, and machinery, £2194; leaving a balance of £462 12s 8d in excess of liabilities. The mine manager's report was also read. Upon the motion of the chairman, seconded by Mr E. McDonnell, the report and balance •beet were adopted. The secretary men* tioned that he had just received a telegram stating that the water had been reduced by 19 feet. Messrs J.*McCabe, Edward | McDonnell, Eonald Macdonald, J. A. Fond, and Joseph Stacey were elected directors, and T. L. White auditor. GOLD KETtTRNS. Ai/BUBNiA.—Mangan and party have crushed 26 loads of general dirt for the good return of 55ozs lOdwts melted gold. . Leith and party have put through eight loads for the yield of 9ozs 6dwts gold. jMoanataibi.—Odgers and party have banked 15dwts gold, the result of a crushing of three loads of quartz.