ROYAL STANDARD.

Auckland Star, Volume XXIX, Issue 101, 30 April 1898, Page 2

ROYAL STANDARD.

Mr Pascoe, the manager of the Royal Standard, has closed down the mine for the present. A large liumbcr of men have therefore been thrown out of employment, Mr Pascoe is in communication with the London directors as to further work on the property. COROMANDEL FREEHOLD PROPRIETARY. The annual meeting of shareholders in this Company was held to-day at Mr H. Gulillan's ollice, when Mr W. Gorrie presided. The directors' report referred to the arrangement made for the flotation of the Company on terms giving £5,000 cash, and 5,000 fully paid-up shares in the new Company to be floated. The statement of accounts showed receipts £S 15s/ 44, and the expenditure left a cash balance of £3 8s lOd. The report and balance-sheet was adopted. 9 WELCOME FIND. The annual meeting of shareholders in this Company was held yesterday in Mr H. Gilfillan's office, when there was a good attendance. Mr B. Kent presided! The directors' report stated that the shaft was! down 230 feet, and a considerable amount] of development work carried out at the I various levels. The manager also forwarded a lengthy report upon the work done during the past year. Mention was made of the fact that 58 tons- of quartz I had yielded bullion worth £652 19s. j The winze started on the southern lodei should be down by the time the drive is up | po<it. The manager.consider* this a, most! important work. He anticipates much! success from developments in this section. The statement of accounts showed receipts £3,230 2s Od, of which, £272 Ills 7d was balance on hand last March ; gold won, •£682 19s ; sundries, £7 10s lid; calls,! £2,266 16s 3d.. The' expenditure left a! •credit balance of £35 Is id. Thq amount I I expended on wages was £2,278 0* Sil', and ■ supplies£4lo 13s Od. The Chairman said) no one more deeply regretted than ho did i the want of success in the operations in this I mine. These pocket mines were peculiar, and they never knew what 24 hours might bring 01115 for them, The report and j balance-sheet were adopted and the retiring J directors re-elected. 1