RENOWN COLLIERIES.

Auckland Star, Volume LXVI, Issue 231, 1 October 1935, Page 4

RENOWN COLLIERIES.

SATISFACTORY POSITION. CHAIRMAN'S WARNING NOTE. There was a fair attendance at the annual meeting ol shareholders in Renown Coljieries, Ltd., held yesterday. The chairman of directors, Mr. W. F. BrookeTaylor, in moving the adoption of the annual report and balance-sheet, already published in the "Star," said that the agreement entered into between the Waikalo coal companies had enabled the company to be placed on a profit-earning basis. Trade prospect*? at present were bright, Mr. Brooke-Taylor said, although there was a danger that the better conditions might attract fresh competition, thus bringing about a recurrence of tiie former uneconomic conditions whereby hundreds of thousands of pounds had been lost in the industry. From the point of view of the employment situation he urged the importance of maintaining the industry in a sound position so that the large body of miners could be retained at full wages. The report and balance-sheet were adopted. The retiring directors, Meyers. L. Wilson and .T. A. Carr, were re-elected. At a subsequent meeting of directors Mr. Brooke-Taylor was re-elocted chairman. i •

MINING NEWS.

WAITAHU OPERATIONS. NET PROFIT OF £1301. In its report for the year ended August 4, 1 lie Waitnhu CI old Mining Company, Limited (West Coast), states that the total gold won was 050oz sdwt, which realised £ 4050. There was a profit of £1361, against a loss of £-134 in the previous year. Trouble had been experienced with the water supply, but a storage dam was now being constructed and would be completed shortly.