NEW SYLVIA RETURN

Auckland Star, Volume XLV, Issue 79, 2 April 1914, Page 7

NEW SYLVIA RETURN

£924 FOR THE MONTH. THE A>"~SUAL MEETING. The return from the >Tew Sylvia mine, Thajnee, came to hind yesterday aiteT-■n-oon. The treatment of 775 tons of ■ore yielded feiiHion to the valne of £769, and concentrat£6 worth £159, making the total return £924. The annual meeting of ehareholdere Tvae held yesterday in the office of Hγ C. A. Stubb3, when the Hon. Seynvonr Thome George 'presided over a large gathering. The report of the directors stated: According to the values in the ■>fo. 4 level overhead, there were fully a| hundred feet to drive the No. 5 level north to get under the payaWe stone, and from there to the extreme liorth end of the paya&le stone there should he eeven hundred feet, bo that a large Week of payable ore should shortly be opened up. Owing to shortage of coal through the strike the battery had to stop crushing on November 28, and did not start again till January 28, 1914. The profit therefore, of over £2,000 shown in the balance-sheet for the half-year must be considered satisfactory. With the amount brought forjward from last half-year there is a sum of £5,078 10/8 standing bo the credit of profit and loss, and this sum your directors recommend should be allocated as follows: To writing off all mine developments for year, £3,104 19/11; to writing off battery buildings, £250; to writing off battery plant and machinery, £.1,250; carrying fonvard to credit of profit and loss, £473 19/9. The statement of affairs for the six nronthe ended Decemiber 31, 1913 Showed:—:Reoe6pis: By iboJance June 30, 1913, £1,482 12/6; bullion, £7,693 18/10; total. £9.17 C 11/4; and expenditure —To directors and salaries, £208 2/: sundry Thames accaumbs, £7,444 9/4; bullion cxpeneee, £437 18/6; filter royalty, £137 9/6: mine property, £40 15/; mine Tent, £37 11/; general expenses, £57 19/9; leaving 3 (balance of £Sll2 6/3. The halance-eneet showed: Due Biindry credrtons, £216 7/11; the aeeete were—By mine property, £.12.383 17/10; mine buildings, £63 W/9; Battery buildings. £2,977 7/9; battery plant and roaehraeTy, £9,428 5/1; mine'plani, £84 13/4; mine development, £3.104 19/11; conrantrates on Ikuml, £050; biiUion in transit, £6 j 18/10: mine etock. £97 12/7; battery stock, £355 2/6; office furniture, £32 3/9, and each in bank. £Sl2 6/3; making a total of £30,297 7/7.