MINING 'MEETINGS.

Auckland Star, Volume XXVIII, Issue 247, 25 October 1897, Page 5

MINING 'MEETINGS.

SOVEREIGN G.M. COMPANY.

The half-yearly meeting of shareholders in the Sovereign G.M. Company, Waitekauri, was held at noon to-day at Mr D. G. McDonnell's office. Mr T. G. Tanton presided. The report of the directors stated that the Company was in an excellent financial position, having a credit balance Of £318 13s LOd. The receipts totalled £521 Is Sd, including £510 13s lid brought forward from last year, and the expenditure was £202 17s lOd. Work iv the mine is now being carried on by contract under the supervision of Mr E. M. Corbett, and a second tunnel is now being driven near the Mangakafa Creek to cut a reef which was discovered by trenching, and which assayed tip to 44s per ton. It is expected that a further contract for driving' (iO feet will have to be called for. The tunnel is now in SO feet. Messrs W. Baildon and T. G. Tanton were re-elected directors, and Mr K. E. Isaacs auditor.

ORIGINAL GREAT BARRIER

The half-yearly meeting of shareholders lapsed for want of a quorum. The directors' report stated that the property was held under option by theJoihanhesburgand New Zealand Exploration Company, and development was being dome at the cost of the holders of the option. A short report was submitted by the Johannesburg and New Zealand Company stating that since holding the option the crosscut at No. 1 level had been driven 56ft on the reef, and leader 254 ft. At No. 2 level the crosscut had been driven 420 ft, and a considerable amount of surface prospecting had been also done. The statement of accounts showed total receipts £683 9s Sd, and the expenditure £670 18s 3d, leaving a credit balance of £12 lis sd.

GREAT BARRIER.

A block of stone weighing over one cwt was on view to-day at the ollice of Mr Charles Clayforth. It was taken from the reef at the low level iv the Great Barrier mine driving westwards towards the Harrier Reefs Company's property. The stone is really a line specimen of ore, being almost black with mineral, and evidently rich in both silver and gold. This stone was broken from the point where the late option-holders took the ore from that was sent to San Francisco for treatment. About a ton of similar ore arrived from the Great Harrier mine this morning, and will be forwarded to the Thames School of Mines for treatment.

MORNING STAR.

The annual meeting lapsed. The statement of accounts showed receipts £22.'. IDs 3d and the expenditure left a credit balance of £31 12s Cd.

PRIDE OF HAURAKI

The annual meeting lapsed. The statement of accounts showed receipts £109 7s Sd and the credit balance over expenditure was £4 7s 2d'.

ROYAL SOVEREIGN

An extraordinary meeting of shareholders was held this morning in Mr George Elliot's office, when Mr Moran presided. It was resolved to wind up the company, Mr Elliot being appointed liquidator.

MARITANA

A meeting of the Maritana Company convened to -day lapsed for want of a quorum. The directors' report stated .bat the mine is under absolute protection. Developments proved the country to be carrying gold bearing reefs. The statement of accounts showed receipts £131 os 2d, and expenditure £178 6s 3d, leaving a credit balance of £2 Ss lid.

QUEEN OF WAIHI.

The meeting lapsed. The balance-sheet showed receipts £297 8s Bd, and expenditure £137 13s Id, leaving a credit balance of £159 15s 7d. The directors' report stated negeotiations are still proceeding lor the disposal of the property to a British Syndicate, with reasonable prospects ot a successful issue.

GOLDEN SPUR,

The annual meeting of the Golden Spur G.M. Company lapsed. The directors report stated that very little work had been done at the mine during the past half year, the uroperty being under absolute protection/ The balance-sheet showed a balance of £25 ISs 3-jd to credit of Company.

MAGAZINE.

The half-yearly meeting lapsed for want of a quorum. The report states the mine is at present under protection ior four months, and arrangements have been made to man the ground as required under the protection granted. The accounts show receipts to September 30th totalling £103 19s Id, and payments £99 13s Id, leavin" a cash balance at that date of £/ 17s.