A PAYING MINE.
Few mininir companies liave such a successful record as the North Johnson. ;it Sandhurst, On the I:2th inst. its i '.Oth dividend was declared, making a total of £107,550 disbursed in dividends since the company was formed. When it is remembered that the whole claim is but 82 yards in length on the line of reef, the excellence of the output will be. better appreciated. Perhaps the most successfill era in the history of this consistently remunerative venture is to be found in the operations for the past 12 months. It is exactly a year since the reef nosv being worked was cut in the 1061 ft western crosscut. Since that time the reef has been traced up to within SOft of the 950 ft crosscut, and down to the 112 ft level. In the bottom level the reef is still going down very strong, and another good block of stone probably awaits development there. Already 200 ft of backs on the western leg have been proved to be highly auriferous, the yields bavins: ranged from 11 oz to 2oz per ton. During the past year 31s per share in dividends have been paid, an overdraft has been liquidated, considerably over £1000 sp-nfc in adding to machinery, a new house provided for the mining manager, houses have been granted to both legal and mining managers, donations made to the charities, ami'other expenses incidental to dividend-paying mines being incurred. At the lowest computation the mine has returned £42,000 to investors (after paying all working expenses) on the past year's operations, and there is now at least IS months' work remaining in the stone known to exist, iirespective of what future prospcutiiis may discover. Shares were offered at us two days before the roof was cut; they havcsjld up to 55s 6d, and those who have held the shares throughout, have made money, when the value of the dividends since paid and the marketable value of the shares at the present moment (about $os) are considered.
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Waikato Times, Volume XXXI, Issue 2552, 17 November 1888, Page 2 (Supplement)
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337A PAYING MINE. Waikato Times, Volume XXXI, Issue 2552, 17 November 1888, Page 2 (Supplement)
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