JOHHSTON'S UNITED G.M. COMPANY.

Nelson Evening Mail, Volume XXIII, Issue 529, 31 December 1889, Page 2

JOHHSTON'S UNITED G.M. COMPANY.

Ths half yearly meeting of shareholders in this Company was held last evening, when the Direotors, in their report, alluded to the completion of the second battery, whioh gave them 20 head of stampers, with a very trifling additional oost for motive power. This had led to a larger yield of go'd, and a oonsequent material reduotion in the Oom* pany's indebtedness. The hope was expressed thab in bix months the whole of the liabilities would be wiped off, and that the new Direotors would find themselves in a position to declare a dividend.— The report of the mine manager referred in detail to the work done during the half year, and stated that the reef in the stope on the weßt side of the N.E. drive had averaged five feet in thickness, and oontained good proßpeot?, and had given some rioh specimens, one pooket {having yielded 40 canoes of gold. Thero was now a length of 100ft . running 'north and south along the face of tbe stone, tbe reef dipping slightly to the west. Stoping has been oarried on to the east of the NB. drire for 60 feet, tbo reef bavin? averaged 3 feet in thickness, and having oontained fair prosptots of gold,: while some rich specimens bad been obtained at intervale, There is a larg* blook of ground opeDed out ready for taking out on eaoh side of Lhe N.E. drive. The amount of stone ro- I duoed at the battery had been 2800 tone, whioh produced 815ozs Sdwts of gold. The reports, as w#ll as the balance sheet, were adopted.— Messrs D. Johnston, W. E. Brown, S. O. Hill, W. H, West, and J. A. Harley, were re-eleo: ed Director?, and Messrs Gtorge Hodgson and G. F. A. Clift were re-elected Auditors, The appointment of Mr F, A, Bamford es legal manager o£ the Company was confirmed. " A voto of thanks to tho retiring Directors bronght the meeting to a olose.