MINING.

Auckland Star, Volume XXV, Issue 237, 4 October 1894, Page 3

MINING.

The Red Mercury mine, battery, plant, etc., situated at Kuaotnnu, were on Sept. 28 disposed of by auction by Digby Tonks and Co. The battery and plant were sold for £495 to Messrs A. and G. Price. Tho mine and plant were purchased by Frater Brosi. fo.r £185 and- office,-i£6~loßi Mr D. McLeod: stone-breaker, £20, J. J. Craig ; quicksilver, etc., £20, J. J. Craig; safe, scales, etc., £10, J. J. Craig.

The annual report, and balance-sheet of the Junction Goldmining Company, show thab operations have boen suspended in the mine. The liabilities are £50 18s 3d, and the assets, which consist; of unpaid calls £60 10s 3d. The collection of calls has been placed in the hands of a solicitor. The directors recommend the Company be voluntarily wound up, .as the prospects are nob sufficiently encouraging to warrant further expenditure and making of calls. I / , :•/■.'

The yield this month from the WaihiG.M. Company shows ah increase of £1,548 over the previous one. The manager , telegraphed ' thab-jfor the 28 > days ending the 22nd September, 2,070 tons of ore were crushed and treated, yielding £7,716. The return last month was £G,168. Thio trakes the^ return for tho year 1894 to date total £53,438', and as there is still three months yield to come no doubt the present year will show the largest output of bullion since the opening of the mine. The total yield of bullion since 1889 was valued at £205,655, and the average value per ton of the last crushing was £3 148 7d.

Tho annual meeting of shareholders of the New Alburnia G.M. Company was held on Sept. 29 »b the office of Mr D. G, MacDonnell, Insurance Buildings. In the absence of the chairman of directors, Mr. F. A. White was voted to the chair. The directors' report stated thab ab the commencement of bhe paßb year's operations there was only the email sum of £31 28 lid to the Company's credit, and a liability of £98 sa. *• Seeing thab such was "the Company's financial position ab the time referred to, and thab no calls had been made, the directors think there is reason for congratulation with the results obtaineol, for £4,966 "6i "haa been paid in dividends, and a further sum of £1,431 2s lid for plant. The present liabilities of bhe Company are £365 18s Id, againsb which there is a bank deposit of £250. Included, in the liabilities is a sum of £186 4a 6d for income bax on d.'vidends. The liabilities are therefore, only £115 18s Id in excess of available assets,, and £17 13s Id of what they were lasb year, and this without taking into account the £1,431 2s lid paid for plant. There is a liability contracted of about £200 for winding gear, but the order is nob executed and account rendered, so ib could nob be properly included in the balance-sheet. The Chairman moved the adoption of the reporb and balance-sheeb. He said bhe ' directors regretted thab the prospects Held oub in March lasb had nob turned oub as satisfactory as expected. The Company was £115 indebboverasßebs. Ho spoke" hopefully of the future, and said he believed the mine would be as remunerative to. bhe shareholders as ib had been in ihq. past. Mr Jarnea Reid seconded tho motion, which was carried. Messrs James Macfarlane and James Dickey,.tho retiring directors, were re-elected. :Mr J. Young was reelected auditor. _ , ;; <■ ; • -,;: r