THAMES GOLD MINING COMPANY.

New Zealand Herald, Volume VIII, Issue 2376, 6 September 1871, Page 2

THAMES GOLD MINING COMPANY.

The annual general meeting of the Thames Gold Mining Oompi-ny was held on the 18th August, at 2 o'clock, in Mr. Haley's public rooms, Exchange Buildings, Queen-Btreet. There was a very large attendance of shareholders, the room being full. C. J. Stene, Esq., occupied the chair.—The Manager read the advertisement calling the meeting, after which the minutes of last annual meeting were read and confirmed.—The following report and balance-sheet was then read : — "Third Annual Report of the Directors of Uio Thames Grold Mining Company (Limited), for the year ending 30th June, 1871. " Your directors have much pleasure in being able to meet the shareholders with a satisfactory report. The remarkable development of the i aledonian mine, and its enormous yields, have fully justified the confidence your directors have always felt in this property—a confidence which has teen shewn by their acquiring and holdinE for the company 94S shares in this productive mine. During the year the income of the company, from dividends on stock, has been £132,313 15s 6cL Of this sum, £131,250 has been paid to the shareholders in dividends, being equal to £21 17s 6d per share for the year ending 30th June, IS7I. In the past year your directors have disposed of stock held by the company to the value of £2418 lis, and have invested the sum of £4381 Os 9d in the purchase of other mining interests. Vour directors believe that several very valuable interests have thus been added to the company's property, and your directors would have invested more money in the purchase of several mining interests likely to be of great future value, but they felt themselves bound by the resolution of the shareholders not to invest any part of the income and dividends accruing to the company in the purchase of new stock. Your directors beiieve that this policy should now be relaxed. They deem it of the utmost importance from time to time to acquire new interests, so that as the older mines become worked out the new ones should come forward. No ot' ..r means will suffice to give the company's stock permanent value ; and your directors request the shareholders' permission to invest, from iime to time, a portion of the money accruing to the company on dividend account. The labor and responsibility devolving on your directors has hitherto been borne by them without any remuneration, but your directors think that the time has come when the directors for the time being should be paid lor their services. Your directors look forward to the coming year >vith great confidence. A list of the mining interests now held by the company is attached to this report, and a perusal of it must satisfy thoße acquainted with the goldfield that this company will continue to pay handsome dividends to the shareholders.—C. J. Stone, Chairman. —Auckland, August 18, 1871. " Balance-sheet to 20th June, 1871. —Dr. Stock, &c., £43,000 ; uncalled capital, £12,000; total, £60,000. Or. Capital, £GO,COO. Statement of receipts and expenditure in year ending 30th June, IS7l: —Dr. Balance profit and loss, 1870, £4269 12s 6d; mining stock sold, £2418 lis ; dividends received, £132,813 15s 6d; transfer fees, £265 4s ; total, £139,767 3s. Cr. Dividends paid, £131,250; mining stock purchased, £4381 0s 9d; calls paid o:i shares, £1324 15s 3d ; Lucky Hit niachiue, £793 2s 6d j Star of the South Gold Mining Company (Registered), £155 12s 3d; sundry accounts due company, £530 6s 8d; miscellaneous charges and expenses, £723 11* 4d; to credit of company at Bank of New Zealand, £556 18s 3d ; cash in band, £51 16s; total, £139,767 3s. —Examined and found correct, Michael ifannaford, A. BoardmiU), Auditors.—Auckland, August 18, 1871. " List of interests held by the Than:«s G-old Mining Company, Limited : — Albion Quartz Mining Company, Limited, 668 shares; All Nations G-old Mining Company, Registered, 849 shares; Alburnia ditto, 416 shares; Caledonian ditto, 948 shares; El Dorado ditto, 600 shares; Eureka ditto, 899 shares; Golden Age ditto, limited, 435 shares; Imperial Crown ditto, registered, 100 shares; Inverness ditto, 476 shares ; J unction ditto, 1210 shares ; .Kuranui ditto, 656 shares ; Long Drive ditto, 4 shares; Moauatairi ditto, 250 shtjes ; Nonpareil ditto, 100 shares; Otago ditto. 400 shares ; Point Kussell ditto, limited, 2000 ; Red Queen, ditto, registered, 105 shares ; Shotover ditto, 200 shares; Shamrock ditto, 157 shares ; Thtmes ditto, limited. 66 shares; TJna ditto, registered, w shares; Wild Missouri .litto, 322 shares. / Capt. Morris moved, " That the resolution agreed to two years ago, at the annual meeting, with reference to the purchase of new stock, be rescinded, and that the directors bs authorised to invest a part of the dividende

accruing to the compmy in the purchase rf new stock " — Dr. Home seconded.-The motion was carried.