HAURAKI NORTH G.M. COMPANY.

Auckland Star, Volume XXVII, Issue 179, 31 July 1896, Page 3

HAURAKI NORTH G.M. COMPANY.

ANNUAL MEETING.

The first-annual meeting of shareholders of tho Hauraki North G.M. Company was held at tho office of Mr D. G. MacDonnell, New Zealand Insurance Buildings, aft three o'clock this afternoon. Mr J. Horon, Chairman of directors, presided.

The directora in their report stated that operations were commenced by sinking a shaft on tho site of the old.Golconda mine. At a depth of » 100 ft a roef 3fb wide was discovered showing gold freely throughout. About 70 tons of ore waa raised by a hand windlass and forwarded to Main's battery for treatment, from which £277 3s 2d worth of gold was gob. The assays made of the ore recently forwarded from the mine and the discoveries made in the workings prove that the shareholders had the mosb valuable properby in tbo Coromandel district. Dr. Moir, one of tho directors, recently made a thorough inspection of the mine and workings and was fully satisfied of tho value of the property. Tho purchase of the Star of Wynyardton property had been completed on terms highly advantageous to both companies, and the directors action only required confirmation, tor which object a meeting of shareholders wou'd be held on the 18th August. Tho balance-sheet to. 15th July showed the receipts wero : Cash from sale of chares, £000; bullion, £277 33 2d; Katie G.M. Company and discounts, £12 6s : total, £389 9a 2d. The items of ejependiture were : •— Wages, £1,042 5a ; mine requisites an*, timber, £176 2s 6d; crushing cartuge and freight, £79 3a 6d; license, rent, survey, and mines right, £103 15b . 6d; salaries, £80 Is 6d ; cablegrams, advertising, and miscellaneous-., £56 0. 3d; purchase of allotment;, £75 ; engine and gear, £250; total, £1,862 8s 3d, mal-iug a, bank overdraft of £972 19s Id.

A long report was also read from the mine manager, in which he concluded by stating that he considered tbe mine second to none an tho Hauraki Peninsula.

In moving the adoption of the report and balance-sheet; the Chairman said that by this time nexb year he hoped that tboy would havo a hopeful tale to tell. With* regard to tho overdraft the Company had 30,500 contributing shares, which were very valuable, so that there was not likely to be a cull.

Messrs J. Horon and A. Wright, the re tiring directors, wero re-elected. Mr E. Waymouth wa3 ro.elecbed audibor.

AORERE,

The annual meeting of shareholders in tho above Company was to havo been held tlii. afternoon in the office of Kir J. H. Harri.on, bub lapsed for want of a quorum. Tho statement of accounts shows the receipt, for tho year to be £325 14s, and tho expenditure £137 19i Bd, leaving-a cash balance of £187 14s 4d. The directors stated in their report thab the property had been offered in the Home market, and a deposit paid. The retiring direcbors are Messrs Yon Sburmer.and McLeod.

STANLEY GOLDMINING COMPANY,

,The annual meeting of shareholders of bhe Stanley Goldmining Company was held as the offices of Mr D. G. McDonnell thia mornihg. Colonel Burton presided. Tha direcbora in their reporb stated bhab thoy had deferred baking advantage of being authorised to negotiate for the flotation of the property on tho English markeb bill the value of tho present operations in tho mino were ascertained. The statement of accounts showed the receipts to have been £375 from the 6ale of original shares, aud £694 10s from calls. The main items of expenditure were £568 10a 6d for wages and contracts, £75 bo tho vendors, £73 18s for board and bravelling exDonses," £41 13a for rents and surveys, and £84 8s 7d for salaries ; a cash balance was in hand of £87 2s 4d. The mino manager's reporb submitted, showing the ODeratiens for the year, stated thab the low "level-from tho creek was in .360 feot. When 250 feeb in on No. 2 reef o body ot stone, from two to three feet wide, was cut, and the drivo was now underneath whero bhe rich gold was found on the surface. Allowing for the underlie, this reef should be meb with ehortly. In'moving the adoption of bhe director's reporb and balance -aheeb, the Chairman stated that tho prospects were reassuring, and good work had been done in opening oub the mine. The croescub pub in 80 feeb below tho recent new rind on the surface should shortly cut thia find, when ib was; hoped something rich would be obtained. The reports were adopted, Col. Burton and Mr Dur.nebt, tho retiring directors,, re-elected, and Mr C. VV. Eilor waa reappointed auditor. EXCELSIOR. The annual meeting of shareholders in the abo.e Company was hold afc tho office of Mr IX G. MacDonnell this morning. Colonel Burton presided. Tho directors' reporb and fche statement of accounts were adopted, the retiring directors were reelected and the auditor re-appointed.

MONARCH OF ALL. The manager telegraphed to-day: J'Cu* leader in No. 3 tunnel one foob thick. MOA. Thi9 property, which consists of 77 acres, is situated, ab Whangamata, and ie surrounderi by tho Golden Three Reete, Golden Mount-.. Sybil, St. Albans, FlemißE-ton and other claims, was advertised to be paced on the local market to-dey by Messrs Harrison Brothers. Ail the 40 shares offered to bhe public were, however, taken up last eVoniß* KUAOTUNU. The annual general meeting of shareholders iii the Kuaotunu G M. Company was held this morning ab the Chamber erf Mines. Mr G.:■ S. Kissling presiding. The abatement of accounts showed a debit) balance of £7 Is lOd. The reporb of the diroctora detailing the operations of the Company, and thab of Captain Richards, mine manager, regarding mmint. work, were read and adopted. Colonel Burton and Mr J. Chambers, retiring directors, were re-elected, and Mr G. S. Cooper was elected auditor. vicTQR>

A brisk demand set in to-day for shares In the Victor Company, in consequence of whab appears-to be an authoritative.rumour tbab n good reof had been cab in the mino. Shares advanced from 5s Id to _. in an hour or two, and later on thero were still firm buyers at 6s 6d.

DARWIN,

Subscribera to bhe Darwin ayndicato meet to-morrow for the purpose of forming a company.

GOLDEN ANCHOR.

The. annual meeting of shareholders in the Golden Anchor Goldmining Company was held at the offices of Mr J. H. Harrison this morning, Mr M. Niccol presiding. There was a large attendance of shareholders. The directors in their annual report, stated that overtures had been • made for permission to place the property on tha Home market. These the directors had declined as premature, feeling assured they were acting in the besb interests of the shareholders by more fully developing the mine in order to secure such terms as the value of the property warranted before placing ib on the markeb. The statement of accounts showed a credib balance of £615 ,6s 6d, after providing for all liabilities. The receipts showed £443 19a 3d balance carried forward, and £817 10s 6d from the Jessica Gold mining Company. The main items of expenditure were:*—£392 13s for wages, £61 16s for rents and fees, £52 15a 3d for material, and £57 10s for management and directors, which, with sundry expenses made a total of £618 7s Bd. The mine manager's report waa read. In rising to move the adoption of the reports and balance-sheet the Chairman said ■ the directors had acted with tho belief that tho property was good enough for them to work, and nob accept terms for flotation till the value of the ground had boen proved, and in taking this stand he thought they had been justified. The big reef which is on the surface gave excellent prospects and should be cub in another 4f b of driving in the low level, and tho same drive ahould shortly cub several other bodies of stone. When this big reef was cub bhe value ot bhe property would be proved beyond a doubb, and ib would then be easy to make good terms for flotation with some strong syndicate so as to have work thoroughly prosecuted. In bis opinion, the prospects of the Company were second to nono in the Kuaotunu district. He then formally moved the adoption of the reports uiid accounts. Tbo motion was seconded and carried, and the re-election of Messrs J. B. Blaikio and M. Niccol (the retiring directors), and the re-appointment of Mr A. Fraser as auditor, concluded the business.

ANGLO-SAXON (KENNEDY BAY.)

A meeting of subscribers in bho abovo special claim waa held to-day ab Mr Elliot's office, Mr Sebh-Sm.bh presiding, lb was decided fco form the property into a company under fche namo of tho Anglo-Saxon G.M. Company (no liability), with a capital of £8,000 in 80,000 shares of 2s each. Tho following directors were elected: Messrs Seth-fcimibb, J. T. Julian, B. Murray, J. Thornes.'and G. Aickin. Mr G, Eiliot was elecbed legal manager, Mr Mackenzie solicitor, Mr F. A. Clarke auditor, and the .National Bank bankers.