Mining Company Meeting.

Thames Star, Volume XV, Issue 4725, 28 February 1884, Page 2

Mining Company Meeting.

Deep Level Cross. The annual meeting of the shareholders will be held in Auckland * to-morrow. The directors' report states that the mining operations show a profit of £1389 63 lOd, which has, however, been more than absorbed by the cost of pumping. After allowing for contributions from other com* panics (£3OBI 15s 9d), the nett cost of pumping operations had been £3318 14s 6d. Work has been carried on without a call, which is a matter of congratulation, and, the prospects being good, the directors hope soon to see the company out of debt. The mine manager reports that from the general workings on the Imperial No. 2 reef and the cross-lode 4176 tons of quartz have been crushed, during the year for the satisfactory yield of 48250z5. ldwt melted gold. The most important prospecting work has been the continuation of the 640-feet level #0 the neighborhood of the reefs which this company^ and the Prince Imperial have, worked successfully at higher levels. A distance of about 400 feet has been ' : driven, and a connection made with the 640 and 430 feet levels. The nature of the country driven through is highly favorable for gold, and encourages the hope that when the large reefs are met .. with they will prove payable. The works have been attended with excellent results, for in rising on the No. 2 reef, twenty two feet above the drive, a cross»lode was discovered, which prciuced several pounds of picked stono when pasced through, ana a promising show of gold was also left in the side of the rise. The company's prospects at the opening of the new year are highly encouraging, prospect* ing works at the low level being now in the immediate vicinity of the lodes, the future works are more likely to be remunerative. The pump manager reports that the' ereo* tion of new poppet legs must shortly be undertaken, the old onr r, getting very weak and rott.'T. The consumption of coal for the year has been 3,800 tons, an average of 316 lons per month for pumping. The winding engine has consunri 274 tons for the twelve months, an average cf 22 tons I 3r month. The tot A co*.t of pumping for the twelve months is £5150 Bs, an average of £429 4s per ..month'. The totd cost of winding has bean £487 2s, an average of £40 11s lOd per month. Three shifts will p.obably have to be employed for winding shortly. The exper sea for the ensuing twelve months should ba considerablyreduce JL The b.lajce sheet shows:—^lcceipts--* 3old, 48250zs ldwt, £13,576 2s lOd; tail, ! ings, £52 2s 2d; drainage contribution^ £30Sl 15s 9d; Cambria shares applied for, 7163 at sd, £163 16s 3d; bank of New _.

Zeaknd overdraft, £1252 8s 7d; total, £18,126 5s 7d. Expenditure—Salaries, £430; wages.and contracts, £6846 5s 4d; crushing and winding, £162% 12s 2d; mine expenses, £588 17s other expenses, £482 17s 6d ; total,"|S997o 12s 9d. Pump account—-Engineer's salary, £250 ; wages, £1260 10s 8d; fuel, £2649 9s 7d; other expenses, £445 18s sd; winding ergine, £522; total £5127 18a 8d ; fuel oa hand, £354 7s 6d; capstan rope, £140; pump (purchase), £2009; Winding -Associatum (share in), £350; Cambria mine (oje-third), £183 6s 8d; grand total, £18,126 Ss 74^ .