TAUPIRI EXTENDED COAL MINING COMPANY, LIMITED.

Auckland Star, Volume XIX, Issue 176, 27 July 1888, Page 3

TAUPIRI EXTENDED COAL MINING COMPANY, LIMITED.

The half-yearly general meeting of th above Company was held at their oflice, Fort-street, this afternoon.

The Secretary, Mr Fran/- Scherff, read the following report and balance sheet for the half year ending June 30th :— Sfhe profit and loss account shows a net prorit for the half year of £1,477 18.* 6d. The balance brought forward from last half-year is £114 Is 2d, making a total of £1,59119 d Bd, which your directors recommend to appropriate as follows :—£6oo to payment ot a dividend of Is and £900 to a bonus of Is 6d per share, the balance of £91 10d Sd to be curried forward to new account. Your directors have much pleasure in informing the shareholders tuat ihe block of freehold land purchased last year has proved a valuable acquisition to the Company's property. 100 acres of thi3 block have bee.i thoroughly prospected by borings, and the result is, that a new seam of coal has been discovered thereon, extending over 70 acres. The eeam varied in thickness from 22 to 48 feet, and is at a depth of frotn 100 to 174 ieet. The sinking of the tirst shaft has been commenced, and the directors hope to have the new mine opened up before the end- of the next twelve months. The dividend and bonus will be payable on the 28ih July.

Profit and Loss (from January Ist to Juno 30tb 1883). —To ruining expeusts, £3,537 Is id.; mine manager's salary, xiOO; to rent ana royalty, JtbU. 10s 6d; to charges — property tax, rates, printing, stationary, and oiiice rent, £183 lls; oiiectors' honorarium, xh£ 10a; ollico salaries, *18a - *s4ito Is; to bud debts, £65 'As Od; to increase ot delcrcdere, £45 8s 6d; total, £5,187 4s 3d; to balance, being net prollt, £1,477 18s 6d; total, £6,665 <k 9d; by eoafaccount, £6,416 8s 7d; by interest, £2191452 d; total, £6,66^ 2s 9d. • Kalakcu-SHKET.- J line 30th, 1888 : 1 o capital -12.0C0 shares at £1, £12,000 ; llesorvo Fund, £6 300- Fronts Used Account, £4,550; sundry creditors. £170 2s 3d; Prorit and .loss Account, £1,591 19s 8d: total, £24,012 Is lid. By mortKaees, £5,928; other securities, £440 — £6,^bß ; freehold property, £5,511183 6d; new coal m.ne, £645 4b; liiinin* plant, engines, tramways and buildings, £2,026 X4s 9d ; oundry debtors, £4.182 12s lOd; less delcredere 5 per cent., £209 2s 6d-£3,973 10s 4d; cash in Bank o£ JSew Zealand, £1,881 16s 7d; cush in hand, £4 17s 9d£1,880 Us 4d: total, £20,112 Is lid. Uncalled capital-12,000 shares at 7s, £4,'20U : grand lolal £24,612 la lid. The report was adopted.