KAPAI-VERMONT RETURN.

Auckland Star, Volume XXVIII, Issue 298, 23 December 1897, Page 2

KAPAI-VERMONT RETURN.

During the past four weeks this Kuaotunu company treated 400 tons of ore for a return of bullion valued at £460. MIDAS. A special meeting of the shareholders in the Midas G.M. Company, called for yesterday afternoon to consider the present position and future working of the Company, lapsed for want of a quorum. WAVERLEY. The annual meeting called for this afternoon lapsed. The balance-sheet showed a credit balance of £23 13s sd. The directors' report stated the mine was under protection. ROYAL. An extraordinary general meeting of the old lloyal Goldmining Company, called for this morning, to voluntarily wind up the Company, lapsed for want of a quorum. Another meeting will be called after the holidays. The Royal is now taken over by an English Company, under the name of the Mahara-Royal. HAURAKI ASSOCIATED. This Compauy* which has been crushing for some weeks past on general ore from the mine, has cleared up prior to closing down the mine for the Christmas holidays. As, it will be remembered, the Company had some 400 or 5001bs of picked stone on hand, in addition to a considerable quantity of fair grade ore, the return should be a very satisfactory one, and the publication of the same is awaited by the public with considerable interest. WAITAIA. The annual meeting of the shareholders in the Waitaia Gold Mines, Limited, called for yesterday afternoon, in the office of Mr W. H. Churton, lapsed for want of a quorum. The directors reported as follows :—Acting upon the authority given at an extraordinary meeting in June last, the directors have now applied 10,000 of the 30,000 shares in the Waitaia Gold Mines, Limited, which formed part of the consideration received on the sale of the mine, to the raising of a further £10,000 for working capital, and they are informed that this amount will be forthcoming in cash without delay. This will place the new Company in a strong financial position. The unrealised assets .at present are BSS shares in this Company, and 107 tons of stone against liabilities of bank overdraft £170 and accruing liabilities of legal and final expenses. . The directors anticipate that early in January a road will be available by which the stone on hand can be carted to a battery for treatment, and they purpose having test crushings, after which they will consider whether it is better in the interests of shareholders to crush all the stone and thus pay off the liabilities and to distribute the surplus, or to make a small (rail to pay oil' the liabilities and leave the stone in the paddock until the new Company's plant is available. The statement of accounts showed receipts for the pjust year to have been £1,514 (is 7d, including £00 13s 3d from loilhs of picked stone, cash from purchasers £1,000, and refund of London disbursements £453 18s 4d. The expenditure for the year was £2,572 0s od, including £1,957 17s paid as a dividend to shareholders. At the beginning of the year the balance was £944 14s 9(1, while the overdraft is now £298 15s 7d.