THE GOLDFIELDS.

New Zealand Herald, Volume XXI, Issue 7006, 1 May 1884, Page 6

THE GOLDFIELDS.

MINING COMPANIES' MEETINGS. New Fend.—The ordinary meeting of this company was held yesterday at Mr, P.. G. Macpqnnell's office, Insurance .Buildings. The repprfc stated .that the progress made, during the past year had been satisfactory. The gross receipts were £6410, lie Id, of which £5743 15s 5d was fpr gold obtained from 1459 tons of quartz, which enabled them to declare dividends of 2s per share, equal to £1980. Crushing operations were only commenced in December. last, with a limited number of stampers, and the result was most gratifying, and. would compare favourably with many of the leading mines on other goldfields. The mine manager's report on the extent and nature of the worke carried out and the present prospects of the mine was appended, and was of a highly satisfactory nature. ■ TkAkohaEitrekaG.M.C.—The directors' report, prepared for submission to the annual meeting yesterday, stated that the progress made, not alone aa to the development and prospects of the mine, which were very encouraging, but aigo in providing crushing power, and connecting the mine with the county tramway, which latter work had been difficult and expensive. That these works had been accomplished without any money expenditure on the part of the company the directors consider creditable to the Board of Management, who, instead of making heavy calls to provide for these necessary works, induced the Battery Compapy to accept the company's reserve shares in payment. When the mine is connected by tramway with the battery, which they expected would be in about.fourteen days, crashing would be oom< menced, and there was every proepect qf ten stampers at least being supplied for a long time on payable quartz. The receipts for the year amounted to £715 8s 9d, and the expenditure to £715 8s 9d. The assets, ' exclusive of uncalled capital, amounted, to £123 12s 10d,. and the liabilities to £33 19s. The mine manager's report gave full details. He had 200 tone of quartz on hand, which ought to give a good yield. He congratulated the shareholders on having very good future prospects before them, gold being obtained .from both faces now worked, namely, the low level and the intermediate level.

'Premier.-—The directors' report for the annual meeting to be held yesterday at Mr. D, G. MacDonnell's office regretted that the result of pperations so far has not been attended with any approach to that success which waa so generally anticipated. Nevertheless, they were not without hope that the further development of the mine will lead to the discqvery of payable quartz, and they •were strengthened in this nope by the mine manager's report. The receipts for the year (inclusive of a balance of £57 19s 3d and £1700 Is 2d derived from gold the proceeds of 7SO tons of quartz) amounted to £2315 lie lid, and the expenditure to £2275 12s. The assets (exclusive of uncalled capital) were in excess of liabilities by £49, a matter wtiioh was a subject of congratulation, as it rendered unnecessary further demands on them to cover any deficiency resulting from the year's operations, which on the whole Had been so disappointing. - The mine manager's report gave full explanations of the operations carried on. Hβ states: "At a- point opposite to where No. 2 junctions -with, the main reef I got a little coarse gold, quite a different class of gold to what we were getting in the western side of the main reef. I cannot say whether the gold obtained from the eastern side has anything to do with what we have' been getting on tbe western side as I had not done sufficient work to prove it in' any if ay, fpr just as I found the gold I had orders to discharge the men. The work I should recommend to you on resuming operations would be to further prospect the main reef in order that we may pick up a shot of gold similar to what is being at present worked in the Colonist."

Waitoki The directors' seoond annual report stated that the result of the past year's work had not been auch as to enable them to present a satisfactory report. Some months ago they were led to expect that the reefs then being worked would yield payable returns, but on the quartz being crushed the return was far from payable, the gold also being of much less valne than that from mines... • They; then determined to reduce expenditure and confine operations to prospecting. No payable reef had yet been discovered, but as the character .of the country is most favourable, they looker! forward to more encouraging results at an early date. The receipts inclusive of £35 17s 3d, balance, from last year, and £8112s I'd derived from gold, tKe proceeds of 109 tons of quartz, amoun ted to £484 14s '4d:' and the expenditure £472 4s 4jd,.: -The assets ars £42 4s 0d in excess of liabilities. Golden Crown.—The annual meeting of the Golden Grown G.M.Co. was announced to have been held at noon yesterday, at the company's office, but at the hour stated, there not being a quorum present, the meeting lapsed, From the mine manager's report we learn that that officer recommends : Raising from' £1000 to £1500, and sinking a shaft on the Mary Ann section of the ground, believing that the same would produce sufficient; gold to pay dividends, but considering the amount of calls, that have been made in other; mines during the year, the directors did not recommend the suggested work being done at present. The profit and loss account shows gold to have been obtained during the year to: the. ex tent of £3259 4s 2d, and crushings to have been done to the value of £1267 6s 9d, which, with a balance of £828 0s 3d, brings jtue total up to £5354 11s 2d. The expenditure for the year,' including the balance! on March 31, '83, £302 8s 9d, and £113' 5s due to creditors, was £5354 lie 2d. The balance-sheet shows :—To capital, £10.000, less £8000 unallotted capital, £2000.; creditors, £186 16s 3d ; bank overdraft, £456 4s l.Od: total, £2643 Is Id. By debtors', £127 : '.16s 4d; mine, £1000; battery, £668 12s 6d; shares, £17 Oβ 6d; cash on band, £1 11s 6d ; profit and lose, £828 0s 3d: total, £535111s 2d.