LONDON MINING NEWS.

Auckland Star, Volume XXXVIII, Issue 93, 21 April 1902, Page 5

LONDON MINING NEWS.

HAUBAEI GOLD MINING COM-

PANY, LIMITED.

(By Our Own Correspondent.)

LONDON, March 14

The shareholders at the annual meeting- of the Hauraki Gold Mining Compjajny, Limited, had to face a debit balance of £3026, and the report of Mr Woolmer, a mining engineer, that in the i Hauraki they had "nothing -worth going few." Undeterred by the fact that the Hauraki had not fulfilled the promise ■which it gave as an offishoot of the "successful" Kapanga, the shareholders determined to try a similar dip into the lucky bag, this time in New South Wales. After adopting the report and accounts, the shareholders confirmed the agreement for the purchase of the North Lachlan property in the Forbes district of N.S.W.. adjoining the Lachlan Gold Mine, and resolved, "That the Company's capital be increased to £ 75,000 by the issue of 280,000 shares of 2/6 each, and that of such shares 208.000 be issued fully paid up, and the remainder by the directors as they may deem advisable." The chairman of the company (Mr C. Hartridofe) announced that the directors intended to transfer their machinery to the new mine," to put the Hauraki on tribute, and not to come to the shareholders for any money. Mr Woolmer gave a description of the Lachlan mine, and thought that when the Hauraki had a shaft down to ■ 400 feet they might strike the Lachlan lode; "Perhaps—perhaps not." At all events, after eighteen months' . energetic work they would have a good idea of how many thousand tons of ore. they s would have in sight. Hope springs eternal in the human breast, and the prospect of spending another £20,000 in Australia instead of New Zealand was hailed by tue shareholders with -applause.