MEETINGS OF SHAREHOLDERS.

Daily Southern Cross, Volume XXVI, Issue 4063, 30 August 1870, Page 2

MEETINGS OF SHAREHOLDERS.

Long Drive.— The annual meeting of the shareholders of the Long Drive Goldmining Company was held yesterday afternoon at the company's office, Shorfcland-street. There was a good attendance of shareholders. Mr. Reader Wood occupying the chair. The following report and balance-sheet were read and adopted : — "To the shareholders of the Long Drive Goldmining Company, Eegisterod. — Gentlemen, — The directors . have much pleasure in submitting to shareholders statements of receipts and expenditure, from the time of the formation of the company, July 28, 1868, to July 31st ultimo; also, statements of assets (exclusive of value of claim and other mining property) and liabilities to 31st ultimo, and mining manager's report. The receipts have been, from gold, 32,1650z. lOdwt. 22gr.- -the produce of 3,551 tons of quartz — 93,823?. 9s. 9J. ; specimens sold, 162/. 4s. 4cl. ; cash from former management, 41?. 13s. Bd. ; making a total receipt of 91,026?. 7s. 9d. The expenditure has been — for wages and contract work, 10,847?. 15s. Bd. ; crushing, 4,555?. 9s. ; cartage, 448?. ]6s. Bd. ; timber, 700?. 13s. Id. ; ironmongery (inclusive of powder, fuse, candles, &c), 654?. Is. lid. ; legal charges, 300/. 15s. 6d. ; blacksmith, 69?. 10s. 4d. ; coals, 21?. 15s. j petty cash, 38?. 14s. 7d. ; house, surveys, miners' rights, &c, and miscellaneous, Cl 3/. 17s. Id. ; reserve fund, 3,000?. ; dividends, 72,532?., which, with 239?. 18s. lid., balance at Bank of New Zealand, makes a total of 94,020?. 7s. 9d. The liabilities on July 31st were 240?. 2s. Id. The assets (cxc usive of value of claim and other mining pi'operty, 2cwt. specimens, and gold from crushing not cleaned up) were — reserve fund, 3,000?. ; balance at Bank of New Zealand, Auckland, 239?. 18s. lid., and Grahamstown, 25?. 14s. 6d.— -We are, gentlemen, your obedient servants, for the Board of Directors, Reader Woob, Chairman."— The mining manager's report lvcoinmended that the proprietors of the adjoining claims be invited to consider the advisability of joining on equitable terms of amalgamation, with the view of dealing with the deep ground ; and drew attention to the advantages of having a crushing plant attached to the mine, by which not only would they save 50 per cent, on the present cost of crushing, but could prevent loss of gold by adopting all most approved modern appliances for concentrating and treatment of fine and gold-bearing pyntes ; and, by crushing separately the parcels of quartz obtained from the different blocks and leaders, could by that means ascertain at any time the profit or loss accruing from each section of the mine. Mr. Beetham wa3 elected director, in the place of Mr. Hull, retired, after which the question of the erection of a battery was discussed, and it was finally resolved to leave the matter in the hand 3 of tho directors. The sum of 125?. was also voted at the disposal of the directors as payment for the past year. The half-yearly meeting of the Shooting Star Goldmining Company will be held thia day, at noon, in tho office of the company.