CAMBRIA G.M. CO.

New Zealand Herald, Volume XXXII, Issue 10009, 21 December 1895, Page 6

CAMBRIA G.M. CO.

ANNUAL MEETING. The annual general meeting of the Cambria Gold Mining Company was held yesterday in the largo room New Zealand Insurance Buildings. Mr. G. S. Kissling presided. directors' report. The directors' report was laid before the meeting as follows :— Your directors have the honour to submit their report and balance-sheet lor tin year now ended, from which is the summary, as follows:Receipts. * S- U. Gold, 65607.12dwt, won from 375 loads quartz .rushed,-sold for .. .. 1,707 4 Calls revived . • - • •-,.•• ™li 6 Public crushing at the company s battery - •• •• '■-" ° 11 Bank overdraft „ - ~ .- 656 » ° Total « -£*.»»» 2 DISBI'RSEME.NTS. Overdraft last year ,£!?,? 3 Wages paid at the mino 1,29b 14 i General charges, including raining requisites 801 8 7 Battery charges, including wages _ 1,539 4 J Tailings _ „ IJLTotal <".» 61 * - Tho mine report furnished by the mine manager (Mr. William Baker) will he read. It will be gathered from it that extensive prospecting works have been carried out, for the purpose of developing gold in tii» main re. f, without which your directors would not have felt- satisfied, although a patch of cold has not been found, and may yet be reasonable looked for, as will he seen in Mr. Maker's report. Two directors retire, namely, Mr. (S. S. Kisslinj and Colonel M. Burton, who are eligible, and seek re-election.-G. S. Kissling, Chairman. BALANCE SHEET. The balance-sheet for the year ending December 14, 1893, was as follows :— RECEIPTS. & s. d. December 18, 1894Gold »on from 37.'. loads quartz, tJDCMI-Mwt sold lor 1.797 17 4 Calls receive I .. .- - •• s*o IS 6 Public crushing ........ 1,241 8 11 December 14,1895Bank overdraft ....... 556 12 5 Total - £4,140 14 2 DISBURSEMENTS. £, S. d. December 14. ISP-3 — Overdraft from last year - _ 209 7 3 Wages paid at the min* .. .. 1,295 14 3 General charges, including ruining requisites 801 8 7 Battery charges, including wages .. 1,839 4 1 Tailings paid OrlandoG.M.Cu.,Ld. . 10 0 Total £4,116 14 2 LIABILITIES AND ASSETS. DR. £ S. d. December 14,1595Sank overdraft .. -. 666 12 6 Balance surplus (exclusive of the val ie of the mine) .. - .. 693 11 3 Total „ - - - *1.250 3 S Cr. £ 8 ' ''• December 14,1895Value 0: winding machinery at niino 201 0 0 falue of battery and plant .. .. l.Otfl 0 0 ' Victoria G.M.Co. owing for crushing 30 2 8 i Orlando G.M.Co. owing for crushing 11 3 6 '■ Calliope G.M.Co. owing for crushing 0 18 0 ; Calls 14) remaining unpaid .. ... 7 19 6 ' Total .. .. - - £1,250 3 S I CAPITAL ACCOUNT. ' DR. £ *• d. , December 14,1595Capitalsteck,44,7(M>sharesat£leich 44,700 0 0 Cr. £■ *• d. ; December 14,1895- ' Capital considered paid up, 44,700 _ ( shares at os each 11,175 0 0 , Capital considered paid up, 13,200 shares (Darwin) at Is each .. 6rJO 0 0 Capital considered paid up, 31,500 . snares (Cambria) at Is each .. 1,575 0 0 Capital to call up on 44,700 shares „ 31,299 0 0 ; Total - f'MM 0 0 { B. Mcdonald wott, ' Mmager. 1 I herebv certif v that I have examined the books ' »nd accounts of the Cimbria Gold .Mining Company (Limited), with l.al.»iice-sheet for the past year, ind t bare found all coriect. i G. A. BUTTLE. Auditor, , Auckland, IStb December, 1895. ', MINE MANAGERS REPORT, ( The mine manager's report was as follows: , Thames, December 16, 1595. Gentlemen, — In , submitting this my annual report, I regret to state . that the success attending the op:rations carried on in your mine during the pist year have • not been so satuftctory as I anticipated would i be the cas« at the beginning of the year. I This, however, is mainly due to the prospecting done on the various leaders below No. 4 l-.-vel not , proving successful in finding anything payable. In most cases -here these leaders Ml on to (he main reef the latter hid a soft puggy wall, which consequently prevented a proper junction or con- I nection, and thereby prevented the chance of fetting gold at the junction, Stiping operations ave been carried on upon >os. 1 and i leaders ( below No. 3 level, and a little prospecting has also been done upon '.be main reef, where these leaders junctional with it. A very fair class of quartz was • obtained fr'.m each of these points, but still we «ere not fortunate enough to secure a patch of gold, although the projects at times w»re very favourable. . Sloping and driving have also been carried on upon Ko. 5 leader at .No i level, which lias yielded some , very fair crushing dirt. 1 his leader, being a dropper /torn No. 1 hangingwall leader, does not go up any 1 distance before meeting with the oldstr.peson the , latter, so that the block upwards is limi'ed. There . is, however, an extensive block of ground below the 1 level which can be worked from the intermediate drive on No. 4 leader. A leader striking into the iootwall of N '. 7 leader has also been opened up for 1 a length of 50 f*et and several slopes taken along, from which some very good crushing dirt was obtained, hut latterly it bis become too small to work profitably. New nlncks of ground have also been opened up between Nos. 3 and 4 levels on Nos. 4 and 1 Iniigingwail le iders. A winze was sunk on the former to a depth of V. feet, at which point the Bain reef was met with, and an intermediate drbe was the'! opened up upon the latter to connect with the main winze leading to No. i level, for the purpose of paS'iug the dirt through. A distance of about 60 feet has ala) been driven on No. 4 leader, and three slopes carried along. This work is at present in progress, and a fair class of crushing dirt is being won, whilst at the junction of the main reef a splendid show of mineral, with colours of gold, i< frequently met with, which leads one to anticipate meeting with a rich pitch at any time. As the drive is advanced westward Nos. a and 6 leaders, will be met with, as they are convngtoaei her in this direction. There has been no work done upon them below No. 3 level westward of the crosscut, Ml! as they turned out so well above the level there is every prospect of meeting with similar results downward. A block of ground has also been opened up on a leader situated about 20 feet in the hangingwall of No. 7 leader. A winze was sunk upon it from No. 3 level, and a crosscut to connect with it put in fn.m the intermediate drive on No. 7 leader. The leader has since been driven upon for about 50 feet, and three stupes are now in progress upon it. It is a very promising-looking leader, avenging about two I«l in tbicitness, carrying splendid mineral, and occasionally yielding a little picked stone, 'Ibis lenler drops into the main reef near the floor of the drive, aud as its strike is about the same, the drive upon the leader also prospects the main reef. There is a block of ground over 200 feet in length upon the main reef below No. 3 level, between the Darwin winze and the cro-scut, which his never been prospected. This, in my opinion, is well worth a trial, especially as in about the middle of the block there is a run of good mineralised quartz, I would suggest that a winze he sunk at this point, as there is always a chance of getting a patch of gold where this favomable mineral exists. I might mention that the block above the level at this point was taken out by Mr. Moore with favourable results, which makes me all the more anxious to test the reef as it makes downwards. I would also sugges; for your consideration the advisability of putting in a crosscut in the hangingwall of the main reef, in the Cambria section, at No. 3 level. Tin; point from which I would like to see the crosscut driven is at the top of the winze Mink some time ago upon tho rich run of gold below No. 3 level, as when the winze was being sunk I noticed ?evoral nice-looking veins making down from that section of country on to the main reef Up to the present the country in the hangingwall of the main reef has not been tested, so that it should afford a very good scope for carrying on future prospecting operations. During the past year a total of 375 loads of general dirt and 180!bs of picked stone have been crushed for the yield of 65802s 12dwts of melted .gold. The battery and winding engine are in good working order.— am, etc., W. RAKJiII. The Chairman, in moving the adoption of the foregoing, said they had been carrying on work in the mine in the hope of making some discovery. As long as work was only on the small leaders they could not expect any dividends. Mr. Baker's voluminous reports pointed to the probability of something yet being discovered. Many discoveries had been made in mines that had been abandoned, and ihareholders had hope that they would yet bave good yields from the Cambria. He moved the adoption of the reports, etc. Mr. J. J. Dickey seconded. (This was unanimously agreed to. RE-ELECTION. Mr. G. S. Kissling and Colonel Burton Were unanimously re-elected directors on the motion of Mr. Russell, seconded by Mr. G. Vidal. On the motion of Colonel Burton, seconded by Mr. Dickey, Mr. G. A, Buttle was reappointed auditor. This concluded the proceedings, VERGES' G.M.C. • ANNUAL MEETING. The first annual meeting of the Waverley Gold Mining Company (no liability), was held yesterday afternoon in the office of Mr. D. G. Macdonnell, Insurance Buildings, Mr. C. C. McMillan, chairraau of directors, presiding, and there was a good attendance of shareholders. directors' report. The annual report of the directors was read by Mr. Macdonnell, as follows :-- To tue Shareholders.—We have much plea■cureinw'eacutuigyou vita tuw.'tiw tot annual]

. report and balance-sheet, we being strongly (lis- ! posed to think you possoss a valuable property ' wldch only needs further development to prove it ' such. As the mine manager's report herewith ' submitted gives full particular." of the operations ; carried on, and of the present proauects of ths , mine, we have not thought it necessary to supplement sarnu further than by the remarks above made, and that the company now holds a much larger area than when first floated, the evund lately aequiieil being considered a valuable addition to the company's property, and brings the area now held nnder license as a special claim up to 63 acres 2 roods 35 perches. In reference to the prospects of the mine they cannot well be considered other than satisfactory, and fully warrant us in assuming that all that is needed to prove the property a valuable one is further development. The balance-sheet ' exhibits in full a statement of the receipts and expenditure, assets and liabilities. Yon will bo pleased to observe that, tho assets are £239 16s 3d in excess of tbe liabilities. In pnrsuanco of the At tides of Association Messrs. Wilson and Gray retire from tho directorship, but being eligible for re election offer thomsolves for the name. The auditor, Mr. Oilßllan, also retires but does not seek re-election.—C. C. McMillan, Chairman. BALAN'OE-SHEET. Tho balance-sheet was then read as follows :-- First Annual Balance-sheet Wavorloy Hold Mining Company (No Liability) for year tailing 13th December, 1893. Pit. Receipts. £ '-d. Net cash sale of promoters' shares .. 400 0 0 Capital called np-3d per ire on 60,000 snaros, £750 Eeceived on account same m .. m - - .. 666 11 3 £968 11 3 Cr. Expenditure. £ s. d. Wages - 60S 8 0 Mine requisites 89 3 0 Timber and cartage i 0 0 0 Rent of teens-*, minors' rights, etc. .. 43 6 0 Salaries, Board's fees, and travelling expenses 100 10 0 Law expenses 19 0 0 Advertising, stationery, and miscellaneous „ m - « - - 12 12 8 £890 0 6' Balance . . - « - 761010 £966 11 3 Dr. Liabilities. £ s. d. Sundry creditors .. ;. * » 20 3 4 Balance - - *. - • - 22910 3 £259 19 7 Cn. ASSETS. £ s. d. Bank balance . .. 76 10 10 Balance duo on call.. - .. .. IS3 M 0 £2.-9 1!) 7 Or. Capital Account. £ «. d. Capital—6s,ooo shared o( 2s each.. .. 11,500 0 0 Ca. Called up-3d persharo onCO.O'Oshares, £750. Credited—3d per share on 5000 shares. £62 IDs 812 10 0 ÜBcalled-i39dpershareon6s,oooshiro!i 6,637 10 0 £6,500 0 0 Audited and found correct, 11. Oilkillan, Jim, Auditor. Auckland. 13th December, ISJIS. MINE MANAGERS REPORT. The following report from the mine manager was also read :— Since the formation of the Company prospecting work has bseti done, with the result that several tests were discovered. I selected one of these and drove 011 it, and after abou'. 2*o feet of driving I met with a shoot of ore, but not of sufficient importance by it-elf as the lode was only a small one. I then started a crosscut in order to intersect a larger reef running pirallel to this one, and although I found gold in several of the veins passed through in reaching this lode, showing that 1 was in the belt of country can ying the gold, still the prospects of this reef wtre not good enough to warrant me in expending a large stun ol money in getting ventilation, and I decided to go back 011 thu small roof and continue driving along it. seeing that th;s drive will ultimately lead to the cutting of this large reef and also the Sir Walter Scotland old Ivauhoe reef. As is well-known this Sir W.lter Scott reef bis been pr .ved 10 be the richest lode in the district by the old battery process, and there is no doubt in my mind tlut'wheu this reef is cut and driven on, we shall meet with ashoot of ore. We have now driven 340 feet along the small reef, and 250 more fee- of driving will have to be done before we get this Sir Walter Scott reef in our ground. At present we are passing through bureu country, which gives me mora < onfidence that when we get this Sir Walter N?ott lode in a parallel line with the Talisman, a rich .-.bout of ore will be found in it also. This Sir Walter .Scott lode will junction with the luge lode, 14 feet wide, which I mentioned in a previous report as existing in the Lack's All portion of our ground. and there is an excellent chance of getting gold at the junction. Altogether, since starting work I have done nearly SO' feet of driving, besides other prospecting work. Wo have now an area of 61 acres 111 a splendid position, joining tho Woodstock, and having their reefs dipping into our ground, hut we require a large sum of money to properly develop it. We have plenty of reefs, and at least some of them good ones, and the future prospects of the propeity are, in my opinion, second to none of the undeveloped miuosiu Karaiigaliake.-W Treoowetii, mine manager. The Chairman, in moving the adoption of the report and balance-sheet, said the reports were no lull that he was not required to say much in addition to what they contained. He regretted they were not of a more satisfactory character, but the mine was being opened up and a moderate capital, much more moderate than that mentioned by the mine manager, would, he thought, enable them to get on to the Sir Walter Scott reef. It was only a question of time to striko that reel, and he hoped at their next meeting there would be a more satisfactory report. Mr. \V. Gorrie seconded the motion, and it was unanimously agreed to. DIRECTORS. Messrs. W. S. Wilson aud J.R. Gray, the retiring directors, were re-elected. AUDITOR. Mr. H. Gilfillan having intimated that he could not continue to fulfil the position of of auditor owing to other business, Mr. Bridgewater was elected to fill the position. AGRICULTURAL ASSOCIATION. ___» The annual meeting of the Auckland Provincial Agricultural Association was held yesterday in Messrs. White's office, Government Insurance Buildiaes. Mr. M. M. Kirkbride presided, and there was an attendance of about 20 members. The report of the Executive Committee which was lengthy and exhaustive was read by the secretary, Mr. E. Hall. Reference was made to the increased support received from the farming community and the general public, and it was stated that the finances were now in a better state than they bad been since the formation of the society. I The membership, it was mentioned, was steadily increasing, the numbor having nearly doubled during the past five years. The report then referred to the work which had engaged the the attention of the committee, and the revision of the prize schedule. Grateful reference was made to the support given to the committee at the recent show by the public, notwithstanding the unfavourable weather, and the leading features of the show were alluded to. Allusion was also made to the consideration of the Bills introduced in Parliament affecting the farming interest, and the assistance received from Mr. W. l<\ Massey and other Auckland members. The committee expressed their sense of the great loss sustained by the untimely death of Mr, W. Caverhill, who was for many years a staunch supporter of the society, and an active working member of the executive committee. Thanks were also accorded to Messrs. W. J. Hurst and Co. for the use of their offices during the show, and to others who had assisted. Mr. Dunwoodie, field manager, also submitted a report, which was read. It contained a number of suggestions in regard to future management and arrangements. ■, Mr. Grainger, the hon. treasurer, then Bub- ' mitted a draft financial report as follows :— Receipts : Members' fees, £219125 ; subscriptions and special prizes, £107 3a 6d; gate money and booths, i146'2 1/h ; entry fees, £212 o.i 6d ; total, £1001 lis. Expenditure: Show expenses, £299 10s 9d ; prize money, £458 (is 9d; advertising and printing, £64 16s Gd; sundries, £31 17s sd; rents, £55 10s; secretary, 1894-95, £73 15s; total, £983 6s sd. Balance, cr., £301 Is 3d; Bank of New Zealand, £5. Fixed deposit : Bank of New Zealand, £100; Savings Bank, £75; balance, Bank of New Zealand, £152 53 lOd; total, £1310 12s 3d. Credit balance, £327 5s lOd. The approximate statement of assets and liabilities were as follow; — Liabilities; Prize money unpaid, £8 29 3d; .Sundry accounts, £1 10s; secretary, £61 ; cheques not presented, £59 !5s ; total assets over liabilities, £391 13s 9d: total, £522 0s lOd. The assets are : Members fees, etc., unpaid, £'20; accounts owing, £15; timber, etc., £100; cheques unpresented, £59 15s; fixed deposit and savings bank, £175; cash in banks, £152 lOd: total, £522 OalOd. The Chairman, in moving the adoption of the report and balance-sheet, congratulated the Association on their financial position. They came out better than any of them expected, and were a great deal more than squaro. He pointed out the necessity for a more suitable reading-room nearer to Durham-street, in which they could file agricultural journals, aud form a library of reference. He thanked the members of the executive committee, and tho officers, for the manner in which they had worked with him during the year. He thought that in future the annual meetings should not he held until February. He then moved the adoption of the report, also the adoption of the balancesheet subject to the auditors' report which had not yet been received. Mr. \V. F. Massey, M.H.R., seconded the motion, and it was carried unanimously. It was pointed out by Mr. Massoy that as the meeting was a small one it would be desirable to defer the election of officers until the last Friday in February, and he moved accordingly, and that the present officers remain until their successors were appointed. Mr. Westuey seconded tho motion, and it was agreed to. The meeting then terminated.