BRIGHT SMILE.

Thames Star, Volume XIV, Issue 4624, 30 October 1883, Page 2

BRIGHT SMILE.

The first annual meeting of shareholders : was held at Mr D. Gr. MacDonnell'g office, ; Auckland, yesterday afternoon. I 3?he Directors' report stated that no call had been made on the Company's capital, and that the money derived from the sale of promoters'shares at the formation of the Company has been more than ample to" carry on operations, which lave been so successful as to enable the directors to declare dividends amounting in the gross i to £900, leaving a balance to the Company's credit of £113 8s 73,'" with liabilities nil. The success of the Company's operations ■were attributed in a large measure to Mr James Garvey, the mine manager. : The mine manager's report showed that the quantity of quartz produced in the mine during the year amounted to 250 loads, yielding 1,2630zs lldwts smelted gold. The manager also proposed to sink a winze below the preseat level for the opening of new ground at- a greater ■depth, and bringing in drive from (he Extended tunnel to connect with. There will be about 200 ft to drive, but the •prospects warrant the undertaking and • promise satisfactory results. ■ "Balance Sheet.—Eeceipts: To sale of promoters' share, £348 10s ; gold, £3,250 Os 4d; from sale of tailings, £59 8s lOd ; rrefund Extended G.M. Co., 9s 6d : total, £3,658 8s Bd. Expenditure: Wages, £1,978 5s 4d; ironmongery, £16017s 3d ; carting, £]44 6s; crushing, £122 5s 9d ; timber and smithing, £48 17s lid ; sundries, £149559 d; dividend, £990; balance, £113 8s 7d : total, £3,658 8s Bd. ' The retiring directors were Messrs Vines and E. Macdonuld. Messrs MeN ville and Garrick were elected to fill the vacancies. ■' Mr Menzies was elected auditor. A vote of thanks was passed to Mr James Garvey, mine manager, for his energy in the management of,the mine during the past year.'