THAMES GOLD MINING COMPANY,

Auckland Star, Volume V, Issue 1393, 29 July 1874, Page 3

THAMES GOLD MINING COMPANY,

The sixth annual meeting of the Thames Gold Mining Company, Limited, was held to-day. C J. tStone, Esq., occupied the chair. The directors' report stated : —" The past year has been one of great depression on the Thames Goldfiulds, but your directors hope that a time of greater prosperity is at hand. The Lucky Hit Battery, which has so long lain unproductive, has recently been removed to Coromandel, and is now being erected on the Plutus mine. Your Directors purchasedf one-half of that mine, or 3,250 shares in the Company, and gave in payment thereof the Lucky Hit Battery, which is to be erected on the mine, and handed over to the Plutus Company. The cost of erecting the battery will be about £I,GOO, and reckoning the value of the machine at what it cost the company (£825), and taking into account the cost of erecting tramways, &c, the entire cost of the company's interest in the Plutus Gold Mining Company will |be about £3,000. Since the financial year closed, your directors have purchased the Loyalty miuc, which is situated closo to Waiokaraka Flat, for the sum of £1,000. There are several good reefs in^ the mine, from one of which there were three crushing 3 prior to the mine changing hands, and which gave returns from 1 oz to H oz3 per ton. Your directors have also secured an interest in a new piece of ground on the line of the City of London and City of York reef. Interests have also been secured in the South British and Exchange mines, situated on the flat, and in both of which well-defined goldbearing lodes have been discovered. The rich returcs from the Old Whau Company's mine warrant the directors in expecting that the Alburnia Company's mine — of which this company holds one-eighth—will soon give good returns, and add considerably to the company's resources. Two directors—Messrs Wilson and Wardrop—now retire from the Board, but are eligible for reelection." The |balance-sheet shewed the expenditure to have been £4209 6s 2d, and the overdraft at the bank, £1845 17s 9d.' £730 had been paid for mining{stock purchased, and £996 for stock sold. The receipts in dividends from investments were £926, and the expenditure in calls £1350.

The Chairman moved, and Mr Stovin seconded, the?adoption{ofjthe report and balancesheet which wa'f carried..

Mr Stone moved, and Captain Rattray seconded, the re election of Messrs Wilson and Wardrop as directors. The motion was agreed to.