MINING NEWS.

Evening Post, Volume LXXXIII, Issue 78, 1 April 1912, Page 8

MINING NEWS.

WAIHI COMPANY. [BY. TELEGBAPH— PBESS ASSOCIATION.] AUCKLAND, 31st March. Cabled advice haa been received by Mr. C. Rhodes, local director of the Waihi G.M. Company, that the London directors propose to hold the annual meeting on 9th May. They announce that th& total profit for the year 1911 is £371,500, against £559,000 for 1910; dividends for 1911 amounting to £272,750 against £396,700 for 1910, have already been paid, in addition to^ £38,850 for income tax appropriation ; £35,000 for depreciation, against £37,000 last year, in now proposed, and tho balance to bo carried forward will be £82,600, being about £25,000 more than in the previous year. WAIRAU GOLD MINING COMPANY. . Shareholders of the Wairau Valley Gold Mining Company, Ltd., have adopted the annual report at a meeting at which Mi*. W. A. Chote presided. Tho report stated that the driving of the low level had been kept uteadily going, and the reef had been cut at tho point indicated by Mr. Wearne'3 plan, and verified by Mr. Austin, C.E., of Blenheim, who had been specially engaged to make a complete survey of the drive. Where the reef wae cut it had pinched in, and,,, there was only a track of the reef visible in very hard country with the walls well defined. During the year power was taken to creato 10,000 preference shares, but the new issue was not taken up to the extent that the directors desired, 4511 having been sold. Since; driving on the track of the reef the walla had opened to three or four feet in places, and showed signs of improving. The retiring directors were re-elected as follow : — Messrs. W. A. Chote (chairman), D. Robertson, J. A. Baron, Campbell Young, J. Wright, and Pv. Sloane. Mr. George Ross was re-elected auditor. Mr. Chote was accorded a hearty vote of thanks and appreciation of hi 6 past services- to, the company. f WAIHI. The following cable was sent last Thursday to the Waihi Company's head office, in London : — " No. 9 Level.— Perch winze (at Perch crosscut. Edward lode), next 15ft, value £2 3s 6d per ton. Eel winze (at 100 ft south ou Edward) lede), next 10ft. value £5 2s per ton. Salmon winze 330 ft south on Edward lode), next 27tt, value 8s Gd per ton. "No. 10 Level. — Royal lode, east of No. 5 shaft, crosscut, first 10ft, value, lls per ton. ltoyal lode, west of No. 5 shaft, crofc-ecut, first 47ft, value 5s per ton. Empire lode, east of No. 4 shaft, crosscut. < next 43ft, value 5d- per ton. Empire lode, west- of No. 4 shaft, crctfecut, next 48ft, value 7s 6d per ton; crosscut at 350 ft, first 20ft value 7e per ton, next 10ft value £1 8s 6d per ton. "Martha lode, south £ection,"eaft of No. 4 shaft.— Crosscut, next 22ft, value la 6d per ton. The width of the lotk' is about Ift. "No. b shaft, total depth is 1244 ft. Royal lode, in No. 5 shaft, at 1235 ft, value 7s 6d per ton. ••No. 2 shaft, total depth is 1128 ft. No. 4 shaft, total depth is 1172 ft." SOUTHERN MINING. The following telegram was posted at tho Auckland Exchange on Friday : " Report for the quarter ending olsfc March, Wealth of Nations, Progress, and Blackwater: Owing to consideration of the labour dispute, the declaration of the usual half-year's dividend has been deferred ftfr the. Blackwater and Consolidated mines."