QUEEN OF BEAUTY EXTENDED G.M.C.

Auckland Star, Volume XII, Issue 3555, 30 December 1881, Page 3

QUEEN OF BEAUTY EXTENDED G.M.C.

Tits annual meeting of the Queen of Beauty Extended Gold Mining Company was held tbis afternoon in the large room of the Insurance Buildings, Mr John McCabo (Chairman of Directors) presiding, 15 other shareholders were present. Ihe proceedings having been opened in the usual way the Secretory (Air MacDonnell read the annual report. It stated enter olio, that the drainage question bod now been solved, and the pumping machinery completed at great expense. Some dead work, such as the sinking of the shaft, remained to be done before profitable operations could be resumed, but probably a winze would at the same time be sunk on the gold, and finds bs thus got to meet working expenses. The mine now comprised an area of 70 acres, or 210 men's ground, and the directors were convinced that it was still unique on the Thames goldfields for its promises of permanenco and success. The balance* sheet showed that the receipts for the post year, inclusive of an over-draft of £1,381 16s 7d, amounted to £6,993 18s sd, and tbe expenditure to £6,985 4s 7d, leaving a balance in hand of £8 13s 10d. The liabilities were £1,73116s Id, and assets, exclusive of the value of reserved shares and machiuory, etc, at £2194 8s lOd, thus leaving a balance of £462 12s 8d in exceßß of liabilities. The Mine Manager's report was also road. Upon the motion of the Chairman, seconded by Mr E. McDonald, tbe report and balance-sheet were adopted. The Secretary mentioned that he nad just received a telcgrrm stating that the water had been reduced by nineteen feet Messrs J. McCabc, Edward, McDonnell, Konalti McDonold, J, A, Pond, and Joseph Staccy were eleoted directors, and Mr T. L. White re-appointed auditor,—Votes \of thanks were passed to the directors, tLe chairman, and the legal manager, after which the meeting terminated.