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MINING.

The Electric Xo. 1 dredge worked 132 hours List week for a distance ahead of 24ft. There is no change to report in the width of the cut or the quality of the bottom. The greater portion is easily worked. The sample of gold was of a mixed nature. Prospects have been variable, and at present are fair. The river is receding slowly. The Rise, and Shine No. 2 dredge made 16ft ahead on a cut of 160 ft last week. The depth varied from 44ft to 50ft, and there were indications that a deep gutter, extending across the cut, was running out. There was a slight improvement in the prospects. The Rise and .Shine No. 1 dredge worked under the usual conditions last week. The ground on the we*t side shallowed a little, and prospects generally were fairly good. The secretary of the Nokomai Hydraulic Sluicing Company reports that No. 1 had a full week's sluicing, and good progress haa been made. At Xo. 2 a wash-up was- made on Tuesday, the result being 430z 6dwt. A start was made on Thursday to remove the top materinl off the next paddock. At No. 3 the well hole was sunk, the stone wall has been built, aud new elevator castings connected up. The sluicing was resumed on Saturday. WAIHI DIVIDEND. Information has been received by cablegram from the London office of the Waihi Cold Mining Company. Ltd.. to the effect that a dividend (the 36th) of Is per share has b-en declared. pa-raMe on December 1. This will absorb £24.795 7s. and will bring the total dividends and bonuses piid to date to £4.631,357 19s Sd. The total amount of bullion won from the mine to date is £10.638.301 lCs 6d. The colonial register will be closed from Xovem'ner 24 to November 30, both clays inclusive. ATAIHT-PAEROA. For the four-weekly period ended October 24 the Wsuhi-Paeroa Gold Extraction Company, Ltd.. treated 10.000 tons of tailings for a return of £3,150. The company have now won £110.711 6s 5d from the treatment, of 354.200 tons of tailings, made up as follows:

DIRECTORS' HONORARIA

A cablegram has been received by the local attorney of the Waihi Grand Junction Gold Company stating that the following resolution, authorising the increase of the directors' honoraria, was passed at an extraordinary general meeting of the company held on October 29:—"That the articles of association of the company be altered i.u manner following: (i) Article 88 shall be struck out and the following substituted therefor:—Bß. Tho directors other than the managing directors or director shall be paid out of the funds of the company by way of remuneration for their services in each and every year as from January 1. 1914. the first lour directors tho sum of £750, and if any additional directors bo appointed, then the Teminncration of tho director* hereunder shall be increased by tho sum of £l5O for each additional director, and. in addition, such further sum or sums, if any, as the company in general meeting may from time to time determine, and all such sum or sums shall bo deemed to accrue from day to day and shall be divided amongst the directors in stich proportions ard manner as they shall determine, and in default of ouch determination equally, (b) In article 99 the words 'but cheques for dividends may be signed by one director only and so countersigned' shall be inserted at the -.tui of the fourth line thereof." The resolution will, of course, be submitted for confirmation ae a special resolution at an extraordinary general meeting to be held in London on November 19.

Tons. £ In 1912 94,100 33.811 In 1913 140,100 42.500 To February 28. "1914" 21.500 4.800 March 28 "... 12,200 2.700 April 25 12,600 3.100 Mar 23 12,400 4.100 June 20 11,500 3.800 Jt'ly 18 11,800 3.703 A uiiust 15 15,000 4,600 September 26 15,000 4.650 October 24 10,000 Ofifl 3.150 oiin 711 Total dividends io (hiU .W.tUU £12.500

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Permanent link to this item

https://paperspast.natlib.govt.nz/newspapers/ESD19141104.2.45

Bibliographic details

MINING., Evening Star, Issue 15641, 4 November 1914

Word Count
663

MINING. Evening Star, Issue 15641, 4 November 1914

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