OLD WHAU GOLD MINING COMPANY.

New Zealand Herald, Volume XI, Issue 4021, 1 October 1874, Page 3

OLD WHAU GOLD MINING COMPANY.

The xnnual meeting of the shareholders of the Old Whau Gold Mining Company was held at the Mechanics' Institute, Grahamstovn, yesterday. There was a large attendance of shareholders. Mr. Robert Graham was called to the chair. Trom the legal manager's report we make the following extracts "The quantity of quartz crushed from the last annual report to the present date is 5955 tons, yielding 10,150 ozs. 10 dwts. melted gold; or an avenge of 1 oz. 14 dwts. per ton; sold by I tencbr at the average rate of £2 lis 4d per | "per ounce Dividends have been declaied amomting to £13,200, or £4 Ss per scrip share. As will be observed by balance sheet, a "considerable sum remains to the

credit of the company in the Bank of New • New Zealand, Grahamstown. . . . J-he . directors are happy to state that the i works are now in good order, and in a con- ! dition favourable to a steady prospective ] yield, and they have every confidence m the future returns being satisfactory to shareholders, and of being remunerative for a lengtlened period Your directors would further recommend the sum of £ Is to bo paid to each director residng at the Thames, and the sum of £2 2s to eftii director resident at Auckland, as an honoarium for attendance at the regular montily meetings of the board. Tb mine manager's report is a very long acd favourable one. The balance-sheet from Ist September, 1573, to 24th September, 1574 was as follows:—Receipts : To gold, £20,43 17s Id ; calls, £135 Cs ; tailings, £55; wage refunded, £10 ; specimen, 10s ; Albuinia 3 old Mining Company, £300 ; sa.e of en.'<ii;, £00 ; copper, £9 : total, 1 13 13s Id? Disbursements : Mine Account— Mine requisites, £1433 ISs 9d; miscellaneas, viz., office, surveyor, manager, rent of line, stationery, &c., £230 10s od, wa«c, £4011 9s Sd; directors' honorarium, £Sf 0s ; advertising, £12 2s 9d; cartage, £1102s Od ; balance paid contract hcuseon mir, £37 12s; hopper, £IS4 ending, £IS4I 19s Od : total, £S;<''<> J os (<dBpoerv Account: Wages, > f, ; l. £897 Gs sd; repairs extra maobiery, £3SG 10a 2u ; quicksilver and other inuisites, £,OS4 12s 7d; watei for a eiy, ■A 7s 9d : cost of new engine and placing a mine, £500 Ss Gd; paid m 13 200" overdraft last balance, £IJ<> <I;'balance in bank, £1229 12s lOd ; balance n hands of manager, 1 Ss Gd : total, £- gs .Mf'itopS 11 >& «s»oi 1 4th ' fjy'o" ,1 jlr ' Wiikinson was re-elected a direetoi, ant i I Mr!-James Mackay was elected a direetoi m jthe place of Mr. feomerfield.—Mr. V. R-

Gellion was re-elected auator of the company.—Mr. Wilkinson th<n proposed the following motion, which wai carried, "That in the opinion of this meeing the mode of working the mine pursud by the late manager, Mr. J. Borthwic), was not such as conduced to the opening uj of the company's property in the most legiimate and workmanlike manner, and tha this meeting is desirous of recording sucli an opinion upon the minutes of these procedings.*