TAUPIRI RESERVE COLLIERY COMPANY.

New Zealand Herald, Volume XXXIII, Issue 10035, 23 January 1896, Page 3

TAUPIRI RESERVE COLLIERY COMPANY.

The annual meeting of shareholders of the Taupiri Reserve Colliery Company was held at the company's office, Marine Chambers, yesterday, the Hon. E. Mitchelaou being in the chair. The meeting was well attended. The Chairman, in presenting the balancesheet to December 31,1895, congratulated the shareholders on the improved position of the company. The roport stated that i.he profits for the year, after writing off £2sl 16s 2d, showed a net profit of £587 lis lOd, and it was decided to pay a dividend ot seven per cent, on the paid-up capital of tho company, and carry forward £267 2s 7d to new account. In view of the small divideud they proposed to pay, the directors would continue to give their services without remuneration. The Chairman stated that a bore hole put down some 18 chains in advance of the present) headings proved coal over 20 feet in thickness, with a good roof of 104 feet, and thus proved a very large area of coal, and greatly enhanced the value of the property. The mine manager's report spoke favourably of the condition of the mine and plant, and this was fully endorsed bv some of the directors, who had lately inspected the property, and were much pleased with the condition of the workings and future prospects The directors, it was stated, saw their way to largely increase the profits by providing more efficient pumping plant, ana are taking steps to obtain the same. The reports, etc., were adopted, the dividend to be payable on February 3 The meeting closed with a vote of thanks to the chairman, directors, and officers, for their past services.