GREAT KAPANGA.

Auckland Star, Volume XXVIII, Issue 23, 28 January 1897, Page 5

GREAT KAPANGA.

This property, which is in tho vicinity of the English Kapanga and Scotty's Hauraki, has had some inquiry for shares yesterday and to-day in consequence of the rich find made in the last-named, and bhe Great Kapanga haa also, we learn, been placed under offer to a representative of English capitalists. A froe option has been given for a fortnight. MANAGERS' FEES; At tbe meeting of shareholders in bhe New Golconda G.M. Company held yesterday in Mr U. O. Macdonnell's office, a resolution was passed thab the Balary of the legal manager ba reduced from 30a to 20s per week. A similar resolution was also 1 passed at the meeting of Germanic eharoj holdars to-day, Mr Macdonnell has, however, intimated thab he will decline to accept tha reduced rate offered in both cases. WHEAL BASSETT. The half-yea!ly meeting of this Company i lapsed ior woat of a quorum yesterday. The balance-shoot showed receipts to be £1,050 19s 6d, and expenditure £865 10s sd. NONPAREIL. The h-Uf-yearly meeting oi shareholders in bhis Company took place to-day in Mr H. Gilfillan's office, when Mr T. Peacock presided. The balance - tiheet showed receipts £759 9s, and the expenditure lefb a balance in hand of £12 14s, ere nsive of £234 lis 8d due for calls, against which was the Company's liability for £39 8a Bd. The amount spent in wages totalled £493 18. 2d. The manager reports regarding this mine thab bhe reef recently cub i? one foob thick, and in thab colours of gold can be seen, whilsb a few pounds of very good picked stone wore selected. The crosscut will bo pushed ahead in bhe hopes of meeting with something else, after which a start will be made to open out on this leader, and also on the last one intersected, in which gold can be seen at present on both sides of tbe drive.

GERMANIC.

The half-Yearly meeting of the Germanic G.M. Comoany (Karangahake) was held to-day at Mr D. C. MacDonnell's office, Mr G. S. Kiasiing presiding. The balancesheeb showed the receipts to have been £1,201 14s, and the expenditure £770 7« 9d, leaving a credib balance of £431 6s 3d. The supervisor's reporb described the developments in the mine, and expressed tho hope thab the property would be found to contain lodes of a good payable nature. He was of opinion thab when the No. 1 reef was cub and worked on good resnlbs would be obtained, aa the reef was composed of solid quartz encased in good country.. The report and balance • sheet were adoDted. , A* resolution was carried reducin..' the legal manager's salary from 30s to £1, but the manager declined the reduction. SALISBURY GOLDMINING COMPANY.

At a meeting of shareholders in the property known as the Salisbury, nexb to tho Maba Reefs, held to-day ab Mr J. H. Porter's office, it was decided to form tbe property (100 acres) into a company to be called the Salisbury G.M. Company, with a capital of £5,000 in 100,000 shares of Is each. The following directors were elected :—Messrs D. N. Watson, J. H. Garrett. S. Twentyman, H. Sargent tnd B. M. Murray. Mr J. H. Porter was appointed legal manager, Messrs Basley and Bruce solicitors, Mr F. A. Clarke auditor, and the Nabional Bank bankers to tho Company. FLEMIjSGTON.

The statutory meeting of this Company was held this afternoon, ab the office of Mr S. H. Matthews. Mr Davis was voted to the chair. The directors' report and the statement of accounts was submitted and adopted. The latter showed receipts totalling £280 17s 6d, including £258 6s 8d raised by two calls. The bobal expenditure was £263 16s lld. leaving a cash balance in bank at January 28th of £17 0» 7d. The directors in their report stated that they were convinced that the property was a valuable one, Burrounded as ib was by well-known claims, tho reefs from which in soma instances were traceable into the Flemington. Two assays made from the 60 feeb reef di.corered in this mine resulted in a yield of £3 0a Sd and £1 0a 8d per ton respectively. RAINBOW (WAITEKAURI).

The half-yearly meeting of shareholders in the Rainbow (Waitekauri) Goldmining Company was to have been held to-day at Mr H. GiltiUan's office, but lapsed for want of a quorum. The balance-sheet shows the receipts to have been £397 ISs and the expenditure £278 18s 3d, leaving a cash credit balance of £118 19s 9J. Ihe directors' report stated that piospecting operations had been continuod in order to define the reels. The option time had been extended till the 17th prox., by wbich time it was expected bhat arrangement? would be successfully completed.

OWHAROA UNITED. The half-yearly general meeting of the Company was to have been'held this morning, bub lapsed for wanbof a quorum. The statement of accounts, showed receipts totalling £735, while tho expenditure lefb a cash balance in hand of £80 Is ld.