OLD CALEDONIAN G.M.CO. ANNUAL MEETING.

Thames Star, Volume XIII, Issue 4344, 2 December 1882, Page 2

OLD CALEDONIAN G.M.CO. ANNUAL MEETING.

The annual general meeting of shareholders was held in Auckland on Thursday, Mr J. Lennox in the chair. The mine manager's report was read, and described the works ixt detail. The

balance.sheet showed receipts from all sources, £3895 3s 8d ; including £42414 a Id, for calls; £237 193 4d from tributes, and £2372 7s Id from gold. The expenditure amounted to £3235 Oh 6d, which, with £660 3s 2d, balanced the account. The mine manager concluded his report by saying that, nearly all the trial lots crushed would pay, if the company had a 20-stamper battery connected with their engines now idle in the mine. The Chairman, in moving the adoption of the report and balance sheet, said there was still prospect of getting gold. It was desirable to have a 20 stamper battery, if it could be erected. —The Secretary, in reply to a question, said that the unpaid calls amounted to £401. According to the- mine manager's report 397 tons of stuff realised 4170zs I7dwts.—The report and balance-sheet - were adopted.—Dr Campbell and Mr John Brown were elected directors. Mr John Waymouth was re-elected auditor.r-The Chairman said the recommendation of the mine manager, "re 20 stampers," was that it would save carting.—Mr Laveirs said there was a great deal of low grade stuff, yielding from 6to BdwtS: got out. If this were crushed, it would probably pay working expenses. The carting of this stuff would cost a good deal.—Mr Scott and Brown said the expense of crushing was very small, and the existing battery was very near the mine, so that the cost for cartings would be very slight.