COMMERCIAL

Greymouth Evening Star, 26 December 1934, Page 9

COMMERCIAL

WORKSOP DREDGE. Worksop Dredge return was forty ounces 5 dwt for 170 hours, 10,500 yards being treated. SKIPPERS AUCKLAND, December 26. The mine manager reports that Skippers’ washup No. 2 December 22 and 23, produced 120 ozs 18 dwts for nine shifts. N.Z. MINING INVESTMENTS The annual meeting of the New Zealand Mining Investments, Ltd., was held last week at Christchurch, Mr. J. Penny presiding. The chairman reviewed the balance-sheet and described the work done during the year. He said that the two companies inaugurated (Maori Guly and Ben Ledi) were progressing satisfactorily. The former’s dredge would be commencing work next month, and the Ben Ledi had just commenced operations. The area adjoining King Solomon mine would be the next flotation. The directors were acting on the geological and geophysical reports supplied regarding the area and tenders for a shaft would be called early in the New Year. Prospecting by the Austral-Malay Company was in progress over 800 acres held by that company from Mining Investments in the Lowburn district of Central Otago. Another reputedly good dredging at Notown (West Coast) would be bored early in the New Year, when a drill could be secured. Another promising area at Clydevale, which showed satisfactory preliminary results, would be taken in hand when the company’s boring plant in the south was free. Three areas had been prospected and turned down during the year. The company’s liquid resources — in cash and shares —approximated close on £5700. In view of the propositions to be handled the directors had followed the policy of conserving its financial resources, but a distribution was to be made that night of shares in one of the subsidiary companies and a distribution later on in the other subsidiary.

The report and balance sheet were adopted after brief discussion. The chairman intimated that the directors had that day declared a dividend of 15 per cent, payable in shares in the Ben Ledi Sluicing Company to shareholders in Mining Investments, Ltd., and that the same be payable on January 21, 1935. The chairman also intimated that a dividend of 15 per cent, payable in shares in the Maori Gully (Kokiri) Gold Dredging Company Ltd., would be paid at a later rate, subject to the finalising of certain contracts, but not until after the dredge had been taken over from the contractor. The retiring directors—Messrs H. A. Martin (Christchurch and J. M. Bunt (Greymouth) —were re-elected, and Mr. Harvey H. Cook was elected to fill a vacancy on the directorate. The Board of directors was voted £2OO for the year’s services. Mr. E. J. Wolff was reappointed auditor.

COMPANIES REGISTERED. Spiers (B. F.) Transport Co., Ltd. Registered as a private company, December 12. Office: Christchurch. Capital: £2OOO into 2000 ordinary shares of £1 each. Subscribers: Murchison —B. F. Spiers 1999. Christchurch—F. E. Twyford 1. Objects: Passenger and goods transpoit and incidental. . Whites Electrical Gold Dredging Co. (Barrytown) Ltd. Registered December 13. Office: Christchurch. Capital- £33.000 into 660,000 shares of 1/each. Subscribers: Christchurch—l. Woolf 4000, L. D. Richards 4000, T. W. Perry 4000, W. R. Heney 4000, A. R. Ferry 4000, S. A. Mander 2000. Greymouth —P. F. Thorpy 4000. Objects: Mining and incidental.