TAUPIRI RESERVE COLLIERY COMPANY.

Auckland Star, Volume XXVII, Issue 19, 23 January 1896, Page 9

TAUPIRI RESERVE COLLIERY COMPANY.

The annual meeting of shareholders of the Taupiri Reserve Colliery Company was held at the company's office, Marine Chambers, yesterday. The Hon. E, Mitchelson presided.

The Chairman, in presenting tho balancesheeb to December 31st, 1895, congratulated the shareholders on the improved position of tho company.

The reporb stated that the profits for tho year, after writing off £281 16s 2d, showed a neb profit of £5«7 lis lOd, and ib was decided to pay a dividend of seven por cenb on the paid up capital of the company, and carry forward £267 2s 7d to new account. In viow of tho small dividend they proposed to pay, the directors would continue to give their services wibhoub remuneration. The Chairman stated that a bore hole pub down some IS- chains in advance of the presenb headings proved coal over 20 feot in thickness, with a good roof of 104 feot, and thus proved a very large area of coal, and groably enhanced the value of the property.

Tho mino manager's report spoke favourably of the condition of the mine and plant, and thia was fully endorsed by some of the directors who had lately inspected tho property. Tho reporb and balancesheet wero adopted, tho dividend to be payable on February 3rd.

The following gentlemen were elected directors :—Hon. E. Miteheleon, J. Russell, J. H. M. • Carpenter, VV. Philcox, S. Bradley.