THE WAIHI MINE.

Wairarapa Age, Volume XXV, Issue 10713, 1 July 1913, Page 4

THE WAIHI MINE.

Speaking at the annual meeting of the Waihi Goldoiining Company in. London in May, the Chairman said: "When work was presumed after the strike we had to consider wJiat policy as to output and dividends was best for the shareholders. The developments'in the lowest levels had been delayed -by about a year, and it appeared inadvisable to. attempt to increase the output beyond about 15,000 tons during each four-weekly period. This tonnage is estimated to yield a return of abojit £2S\QCX), and it- is calculated will support a quarterly dividend of Is per share. Mr Barry has stated that the above output can be maintained for at least four years, and of course we all hope it may be maintained a good deal longer. No doubt, one shilling per share every three .months, or 20 per cent, per annum, is a great comedown from the dividends which the Waihi'used to distribute. It is very unpleasant, but fact-s have to be faced, and we are economising in every quarter. We have begun by reducing our own fees, which we hope will help in impressing on everyone the paramount importance for rigid economy in every department of the company's work. We are also making arrangements for moving into smaller offices after this year, and in fact we are doing all that can be done."