The United Hercules Hydraulic Sluicing Company.

Evening Star, Issue 7797, 19 December 1888, Page 4

The United Hercules Hydraulic Sluicing Company.

The first meeting of shareholders of tbiH company was held in tho City Hotel on Saturday, 15th ins*., at 3 o'clock p.m. Sir Robert Stout was elected chairman, and read the following report:— Duocdin, 14th December, 1888. Your directors have the honor to report that, immediately upon the registration of tho company, step.? were taken to order about forty-five tons of plate steel, the material for pipes, from England, proper t-izes and quantities not being obtainable in Australia. An offer to obtain it at a price which your directors considered satisfactory was made by the Duncdin Hardware Company, Limited, and about seventeen tons of plato steel cimc to hand within seven weeks after the order had been oahled, and the remainder has since arrived and the last of it is now on its way to Roxburgh. Io the meantime step 3 wcro taken to proceed with the reconstruction and enlargement of the principal water race, and to provide sheds and machinery for pipe-laying. Tenders were called for the supply of timber for tho wator races, and Messrs Ottrey Brop. boing the lowest tenderers obtained the contract, which your directors have much pleasure in stating has beon carried out so far in a highly satisfactory manner. Tenders wore nlso called for tho carriase of tho steel plates from Lawrence to Roxburgh, and a contract was entered into at a very moderate rate, and has been so far satisfactorily carried out. Excellent progress has been made in the reconstruction of the principal race, which is now noarly half completed, aud about 1,200 ft of pipes are now in a forward state. Your diicotors bee rcspcctlully to rcf«r to the annexed retorts by the oflioers in oharge of the respective works for details of the works up to data. Your directors havo also caused application to he made for a grant of a special olaini, and they have much plcasare in being able to state that tbey succeeded in obtaining a grant of sixty-nino acres, inoluding the fourteen acres originally hold. They have also applied for and obtained a grant of ten beads of water, in addition to those originally acquired. Takimr into consideration the nplendid water supply, and the large area of auriferous ground now held by the company, your directors can say, with considerable conadence, that the company promißCß to be one of tho most valuable mining properties in the colony. Your directors desire to bear testimony to the energy and good faith with which every contract thoy have entered into has been carried out; and the zeal, energy, and intelligence displayed by the officers entrusted with (he management of the works —in particular, Mcßsrs Bedford Butler and Ewing Butler, in charge of tho water raco works; and Mr J. W. Barker, in charge of tho pipe making. A balance-sheet, duly audited, showing tho receipts and expenditure up "to the 30th inst., is hcroto appended. Robert Stout ) t?. E. C. Quick {-Directors. J. R. Perrv ) The report was adopted, and the directors named in the articles of association—Sir Robert Stout, and Messrs R. Wilson, E. E. C. Quick, J. R. Perry, R. J. Pitcher?, J. B. Borton, and B. Butler—elected directors of the company. Mr J. C. Arbuckle, of Lawrence, was elected auditor.