MINING COMPANY MEETING.

Thames Star, Volume XIII, Issue 4317, 1 November 1882, Page 2

MINING COMPANY MEETING.

Young Colonial GKM. Co. (Wum). The first annual meeting was'field at, MrR A. White's office, Auckland, yesterday afternoon. Mr Adam Porter pre-

sided, and gave a verbal report of the ! past working and present slate of the mine. In reference to the future working of the mine, the directors stated in their report they were of opinion that it 1 would be advantageous if arrangements could be made for the amalgamation of four mines at Waihi to push lon the Waihi' main tunnel at the same level as the Young Colonial level. This would thoroughly test the reef for over 1200 feet. If no satisfactory arrangements are come to for amalgamation, the director* are still of "Opinion tfiaVthei main tunnel should be pushed., through at the joint' cost of the various mines through which it will pass, the Ypjing Colonial pcoritrib'uting the £300 due them by the Waihi Company for tramwajC in lieu of laying tramway. -If this were domr we believe.that a valuable-block of ground will be opened up and' that the share* holders will hare a good paying company. The balance-sheet,'which was presented, showed that the total indebtedness of the mine was slightly under' £200, against which there was the' uncalled capital, timber, tools, and mine requisites on the ground. -'