OTAGO GOLD MINING COMPANY (Registered).

Auckland Star, Volume IV, Issue 1022, 29 April 1873, Page 3

OTAGO GOLD MINING COMPANY (Registered).

A general meeting of the shareholders of the Otago Gold Mining; Company was held this afternoon in the large room of the Insurance buildings for the purpose of presenting the directors' and mine manager's reports and the balance-sheet for the halfyear ending March 31st, 1873. About thirty shareholders were present. Mr P. Brophy occupied the chair. Mr McKellar read the Directors' report and balance-sheet as follows : —

" The directors have great pleasure on the present occasion in presenting to the shareholders a more satisfactory balance-sheet for the past half-year than it has been their lot to do at previous meetings. The expenditure has been £862 9s. 3d., and the receipts £723 Bs., leaving a balance to the debit of profit and loss of only £139 Is. 3d.

'■' One hundred and fifty tons of quartz have been crushed with a result of 256 ozs. 3 dwts. 12 grs. This was principally obtained from a block of ground lying between our boundary with the Golden Calf and a. slide 80ft. from it,-- and - rising upwards to the Red Queen boundary, an .estimated distance of about 90ft. ; only a 'small portion of this has as yet been taken iout. : It is also expected that a rich block of ground, will ,be found below our- present level, some good stone having been obtained from the winze. You are, however, referred to the mine manager's,report (which will be read to you) for this and other information respecting the mine. ■ " The directors have reason to believe that ithey may now safely congratulate the shareholders on the prospect of the mine becoming speedily'remunerative, and ,to this end they will continue to give the management their best.attention. , . • i " Signed on behalf of the directors, "J. S. McKellar, , ".Legal Manager."-' % '< <\ . Balance-sheet. : '•• ° . capital And liabilities.-; i' ! 1872. £ f».. d. Oct. 30.—T0 7,200 shares at ! ' ' £4 13s, paid up 33,480 0 0 . 1873. , . ; rT' ■' " ■■'■: . ■..■•■-.■. ■» March 31.—12 th & 13th calls / of Is per share... 720 0 0 I■'■ ' ilV' ' 34,2bb 0 0 Unpaid accounts ...... ... , 17 ( 7 rl, 2, Total' ... ... 34,377 12 '■':'■ PROPERTY AND ASSETS.' ji': ' 1872. : ' ■'■■ Oct. 30.—8y value of mine ...33,002 7 6 : 1873. March.Slj-^Planti,;.;. .J. a. : 266 :9 6 ' ~ 0 o (■ \ 33,268 17 0; Calls due. "... ... - - 106 2- 9 Cash in Bank New Zealand ... 221 .3 2 Gold at Grahamstown ... ... 63b 19 6 Cash in hand <.... ... •- ' .4,17 6 . : :•■■' ?':';■■•' ,'■ Md ,2/U ■ Balance Profit and Loss, being !...,-.: amount of-expenses in • <• - of receipts from the mine for ; ; .' : the half-year ended the 31st • - ; March, 1873..;,..-."• 139 I ■ 3 ; | Total £34,377 1 ,2 Statement of Profit and Loss.;: ' ' EXPENSES. i ■ : - (T p] £■ s; d. ; To plant (15% depreciation) ... i.Q ; WJ Wages and contracts ...... 521 ' 7 A A Crushing ... ... ... ■•; — 79 '^ ,» Cartage. ... ..,.,. .•,•:• 20,17 6 Winding, ....... -. • - S2 JO^O Timber »• — - ■•• •'• » , ; Candles ... }2 * 0 Powder and fuse ... 18 Irf o ; Mine requisites. ... ,7; 10 11 : Management ..;... ... ... 50 0 0 Surveys ...,-,• - ~ .•«■. °tr }%\l) X Stationery ... ..•-•., ,;-. ,I%}^ JJ. Advertising ... ...... '.» ™ \J» Postage ... ••<. .- — — If ll . Interest, ... 0 f | Miscellaneous ... ... ••■ 2a Ib 6 Total £862 9 3 Tobalance ..'. ...... > -'^^ ! 3 RECEIPTS. :,■ ;■■■., iJ(//;./v £ a. d. By 256 ozs. 3dwts. 12 grs. of gold from 152 tons of quartz.,' including proceeds of gold at Gra- , • hamstown received on Ist Anril ■•• -■ 723 8 0 Balance 139 1 s Total £862 9 3 Audited and found correct, v , v ■ ■ ' Ge'o. Fraser, Auditor. The minutes of the last meeting "were reT dhe nmine nmStger's (Mr O'Bnan) report was next read and was of a very favorable ch TheCtr e e rport of Mr W. C. Wright as "to the general character and future operations of -the mine was next read. The balance-sheet and reports were severally put to'the meeting and adopted. A -vote of. thanks to the ohairra»« terjainated^ meeting. f , MiJi^ mVi