THE GOLDFIELDS.

New Zealand Herald, Volume XXVII, Issue 8427, 1 December 1890, Page 3

THE GOLDFIELDS.

(by TELEGRAM. —OWN CORRESPONDENTS.] Thames, Saturday.

Siiaremabkjet. — Cambria, buyers 3s ; Lone Hand, sellers 4a 3d; Moanafcaiari, sellers 7s, buyers Cs 6d ; Alburnia, sellers 4s 3d ; Orlando, Is ; Trenton, .sellers 4s.

Magnolia.—Good colours of gold are being seen in the quartz broken from the large reef in the low level. Hazelbank.—A two-inch leader was intersected in the crosscut at No. 1 level today, carrying good mineral indications, but no gold was seen. Trenton.—A breaking down of the footwall reef at No. 3 level took place to-day, but only a small parcel of picked stone was obtained, although gold was seen freely distributed through the quartz. The reef still continues a foot in thickness. The new reef in the main crosscut at No. 3 level has been proved to be about a foot thick, and is a nice compact body of quartz, with a good class of mineral distributed through it. Coromandkl, Saturday. _ Vizards. —The manager reports Sib specimens from the winze. The reef is large, and looking first-class. Pakroa, Saturday.

Mr. Gordon, Government inspecting engineer, has proceeded on a tour of the Upper Country goldfields, accompanied by Messrs. Phillips and Edwards.

WAIHI G.M. CO. Paeroa, Saturday. The Ruby took away four boxes bullion from Paeroa to-day, containing between 4000 and SOOOoz. ,

NEW MOAN AT AI G.M. CO.— ANNUAL MEETING.

The second annual meeting of the New Moanataiari G.M. Co. was held on Saturday forenoon, at the Company's oflice, Queenstreet, Mr. J. M. Alexander, chairman of directors, presiding, and there were 22 shareholders present. directors' retort. The directors' report, which was read by the secretary, Mr. F. A. White, was as follows :—

In presenting their report for the past year, the directors conaratulato shareholders upon tho improved condition of the mine. During tho year two most important works have been carried out, viz., the extension of the main tunnel some "70 feet, and a rise from tunnel level to the Point Russell level. These works have cost a considerable amount, but from the appearance of the reefs so far opened up at the 100-feet level, the directors consider that tho outlay has not been misspent. With reference to finance, the old liability of /MOOO due to Moanataiari Hold Alining Company has been reduced to under £SO!l, and our total indebtedness to :>l-t October is £3;122 His 10d, which amount it is expe, ted will be considerably reduced within the next three months. Now that the mine is opened up and can be worked systematically and economically", we confidently anticipate a good year for the shareholders, for without doubt we possess the best property and plant on the Thames goldtiel.is, and under the able manage ment of our mine manager (.Mr. U. S. Clark) we anticipate larger returns in the future. In accordance with the company's articles of association two of your directors retire annually. Messrs. J. M. Alexander and J. J. Macky retire this year, and being eligible, offer themselves for re-election. The auditor (Mr. 1). 11. McDonald) also offers himself for re-election.—For the directors, J. M. ALEXANDER, chairman. Auckland, ISth November, lb'JO.

The Chairman moved the adoption of the report and balance-sheet, Mr. Reed seconded the motion, and it was carried unanimously.

DIIIKCTOttS.

On the motion of Mr. Reed seconded by Mr. W. S. Wilson the retiring directors, Messrs. J. M. Alexander and J. J. Macky were reelected.

AUDITOR.

On the motion of Mr. Bell, seconded by Mr. Reed, Mr. D. B. McDonald was reelected auditor. Mr. McDonald in returning thonks said lie had to testify to the able and neat manner in which the books of the company were kept. Everything was in perfect order, and most creditable to the company a bookkeeper. # A vote of thanks to the Chairman terminated the meeting.

New Moanataiki. —The mine manager reports :—The eastern drive oil the footwall lode holed through to the drive on the Reuben Parr reef To-day, it will be some distance further ahead yet before the two bodies of stone come together. A few pounds of picked stone are daily being obtained from the different stopes on the footwall lode. A meeting was held on Saturday of the shareholders in the Hilda claim, situated on the Kauri Timber Company's property at Whangapoua, when it was determined to form the claim into a company with a capital of £30,000, divided into l)O.(KX) shares of 10s each. Messrs. J. Brown, K. T. Dufaur, P. Lannigan, T. Morrin, and James Russell were appointed the first directors of the company, and Mr. S. Thome George, legal manager.

[BY TELKGRAPH. —PRESS ASSOCIATION.] Rekfton, Sunday. The following- are tho week's gold returns :—Keep Dark, 4Gooz amalgam, from IGO tons ; Globe, 2020z amalgam, from 100 tons, top places only—a dividend of sixpence has been declared ; Progress, -KjOoz amalgam for the week —a dividend of one shilling has been declared ; Inkerman, 300oz, amalgam, from 140 tons; Venus, I.'lOok amalgam, from 95 tons, top plates ; Wealth, 1730z amalgam, from 114 tons.