THE GOLDFIELDS.

Auckland Star, Volume XLVII, Issue 52, 1 March 1916, Page 7

THE GOLDFIELDS.

WAIHL DIVIDEND PAID TO-DAY. Shareholders in the Waohi G.M. Co. today received a dividend of one. shilling per shore. This is the ninety-first dividend paid by that company. The amount distributed on this occasion is £24,795 7/, of which £9,711 10/ was for shareholders on the colonial register. The total amount distributed to date is £4,805,364 14/8, from a gross output to date of £11,148,041. WAIHI GRAND JUNCTION. THE FEBRUARY RETURN. The following cablegram has been sent to the head office of the Grand Junction G.M. Company in London: "For 35 2-3 rd days ending 19th February we crushed 15,910 tons for a return value of £24,024 3/5. No.* 7 level Empire footwall lode west drive advanced to 485 ft, the average width is 4ft lOin; the average value £7 2/7. No. 6 level" Empire central lode No. 4. A winze is now.down 55ft.. The average width is 2ft, average value £5 9/.

WATCHMAN.

The annual meeting of shareholders, in the Watchman GJ.I. Co. was held yesterday in Mr W. J. Nichols' office, Victoria Arcade, when Mr E. Anderson, chairman of directors, presided. Thte annual reporl stated that although the half-year's crnshings. had been contributed iron various parts of tbe mine, and no block* of developed, pre were available, still.nt calls had been made since- September 1914 It was apparent, however, that the muw ■had been run' at a loss, and unless-then was an early improvement in the value of Jr the ore sent to the mill it would bi necessary to suspend operations, or, ac an alternative, to make calls -for th( purpose of continuing the 'development work at the mine, •..•'. • ' The mine superHitendeirfc! (Mr'H.'-F "Shepherd).... reported, .thai the.WindfaV reef maintained a fairly Uniform Value at the different points- 6l operations, and, should a cheaper niethod of treatment be discovered, the company would have unlimited quantities of low grade ore to work upon. During the past "six months 2,003 tons of ore, showing an assay value of £1 12/ a ton, were crushed and treated for. -a return of .bullion valued at £2,755 5/9, and concentrates oii hand, t*> thevaiue .of .£136 4/,'. showed a fecQv'ery;pf' £1.9/ a ton. The future prospects :of 'the' mine .we're much the same as at the end of last period, and there seemed to be a reasonable chance of an improvement in the value of -ilie ore. In moving the adoption of the report, the chairman said ■war conditions-were making it very difficult to render the mine payable. Most mining requisites -were dearer. The directors would continue the present policy «c long, as possible. It was not a'n'easy matter, but the members of the' board personally held a large number of shares, and their interests were in accord with those.;of other shareholders. He did not intend to place any alternative proposal before shareholders, as the board's policy would fbe governSffby the need 3of thee moment, ; and the time for any change in this ; respect had not yet arrived. The reoort and bakiK.-e-6h.eet were i adopted, 'and the retiring directors, 1 Messrs E. Anderson and F. Duthiei were | re-elected., - The ' auditor;.:(Mr "G.. -A.' > Stubbs) was also Ire-elected." ■>-■■■