NEW EUREKA (OTUNUI).

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

NEW EUREKA (OTUNUI).

. The first annual meeting of share* Holders ; was held last evening in 1 the Pacific Hdtel; there was a-full attendance, Mr J. Townsend being.Voted to the obair.

The balance-sheet for the past 13 months' work was read, showing the re* eeipts ,to have been £1378 9s Bd, of which gold produced £497 13s 3d, and calls £840. The expenditure was £1395 4? Bd, the chief items being: battery account, £996 6s lOd; wages, &c , £314 13s; goldfield's revenue) £26 12s 6d ; and advertising, £16 14s 6d ; the overdraft afc the Bank being £34 2s 6d, against which there were, unpaid calls to the amount of £17 7s 6c!. The liabilities were set down at £193 9* lOd, and the assets (including battery £1000, and 12C3 shares held ,by the company, at 3s per share,. £180) at £1267 7s 6d; while the capital account showed that from £18,000 in 18,000 £1 shares only one Is call had been called up on 16.800 shares, leaving a balance of £17,160 to be called up if required. Messrs Meddins. Bateman, Townsond, McCullagb, and Vaugban were elected directors, and Mr Miller suditor. After considerable discussion, it was decided to divide the 1200 shares held by the com* pany pro rata among the shareholders, the legal manager stating that he wpuld be ready to allot them on Nov. 14. On a test vote being, taken,, it wai decided that the number of shares held by a director during tlie' present year should be 300.

Be the putting in of a low lerel, the manager reported advising the work being commenced without delay. To get 30 feet of backs a distance of 260 feet would have to be driven, while by/* putting in a tunnplfrom the Oriental lerel, a distance of 850 feet, 81 feet of backs would be obtained. It was decided to .undertaken the shortest tunnel. ■■ -.■",--■■, Votes of thanks to the retiring directors and the Chairman brought the meeting'to a close.