THE GOLDFIELDS

New Zealand Herald, Volume XXXV, Issue 10664, 31 January 1898, Page 6

THE GOLDFIELDS

..TAIRUA PROPRIETARY G.M. .CO. The half-yearly - meeting of shareholders of the above company was held on Friday at) Mr. W. Clarke's office. Air. E. W. Alison (chairman of directors) presided, and there was a fair attendance of shareholders. The report and balance-sheet were adopted as read. The former stated that the directors recommended that operations on the Tairna Proprietary cease, t\nd that a share in the Glencoe special claim at Tairua be secured for £250, the arrangement being that that amount should be expended on the Glencoe property in development work. The Chairman explained' that there would be about £150 in hand after all expenses were paid. There were two courses open to shareholders,—either to wind up voluntarily, or to obtain a fifth share in the Glencoe under the conditions named. If the latter course were decided on ib would be necessary to make a call of id per share to provide the additional £100 required to make up the amount to be spent) on development work. There was a large reof on the Glencoe property, and the assays were satisfactory, but what was required was sufficient money to enable the reef to be cut at a depth. After a short discussion it was decided, on the motion of Mr. J. P. Clarke, seconded by Mr. J. {0. Davies, " That the recommendations of the directors regarding the securing of a fifth interest in the Glencoe special claim on the conditions mentioned be given effect to, provided that the Teutonic company have one representative on the board of directors." This concluded the business.

THAMES DRAINAGE BOARD. Friday was the day on which appeals against the asseisment of the Thames Drainage Board against the contributing companies were due. No objections were, however, lodged to the assessments, which therefore remain in fores for twelve months. The assessments, which have already been detailed in the Herald columns, are identical with those made on contributing companies last year. "

PURU CONOLIDATED G,M, CO. The balance of the machinery for the Puru Consolidated Company's battery arrived from San Francisco by the Moana on Friday. The machinery, which is being supplied by the Union Iron Works, of Frisco, consists of the turbines and rock breaker, and will bo despatched to the mine Immediately. The erection of the battery, etc., has been delayed owing to the County Council failing to carry oub its promise with regard to a road, and it is hoped that there will be an improve menb effected in this connection. COMSTOCK G.M. CO. ANNUAL MEETING. The annual meeting of shareholders of the above company was held at Mr. R. McDonald Scott's office on Friday. The chairman of directors (Mr. J. Dixon) presided, and there was a fair attendance of shareholders. ANNUAL REPORT. The directors submitted the following report Your directors have the honour to submit their annual report and balance-sheet for tho past year. The summary from tho latter is as follows: - IiECEIPIS. Cash balance from last year .. .. £206 6 11 Cash from Anglo.Continental Gold Syndicate (Limited) 16 8 8 Calls received .. 41 6 0 Total £252 15 7 Disbursements, 0 Wages paid at the mine 14 I 0 ' Charges, including amalgamation expenses, rents, etc., special claim .. 212 310 Cash balance in bank '. .. 30 7 9 j Total £262 15 7 1 _ Sinco the last annual meeting of shareholders the licensed holding of the company was enlarged to 9S ( acres, by the completion of thennialgaination of the i Golden Crown ami Caledonian holding.". In view of ! tbe option then existing the enlargement was found to be necessary, and as it now turns out appears to 1 be fortunate, A parallel reef, 12} feet wide, show- ' ing gold to the Monowai reef, has been found in the , Momma! claim. This parallel reef traverses tho , entire length of the Comstock claim. The lute Mr. 1

Curler, who was in charge, put in a drive within 60 feet of this parallel reef. When he left the drive was stopped. Mr. W. H. Williams, the company's supervisor, is now having Mr. Carter's drive extended, and your directors wait anxiously the gettin? of the reef in your claim, which promises to be of importance to the property. The retiring directors are Messrs. J. J. Dixon and G. Vidal, They are eligible for re-election. Mr. Vidal was reelected. Mr, Dixon does not seek re-election.—J. J.DIXO.N, Chairman. BALANCE-SHEET. Tlio balance-sheet for the year ended ! January 24, 1898, was presented by the legal manager, Air. Scott), as under Balance-sheet for the Year Ending January 24, 1898. Receipts. January 22,1857— £ s. d. Cash balance in bank from last year 206 Oil Cash from Anglo-Continental Gold Syndicate (Limited) 15 3 8 Calls received 41 6 0 Total . £202 15 7 Disbursements. January 24,1808- £ s. d. Wages paid at the mine .. .. 14 4 0 Charges, including amalgamation expenses and rents special claim.. 212 310 Cash balance in bank .. .. „ 30 7 0 Total.. .. £202 15 7 , DR. Capital Account. January 24,1593 — Capital stock, 10), shares at 8s each £15,000 0 0 Cr. & s. d. January 24,1893 — Capital called up, 100,000 shares at 3Jd 1,458 0 8 Capital to call up, 100,000 shares at 3Jd 13,541 13 4 Total £15,000 0 0 K. McDonald Scott, Manager. lv ' I hereby certify that I have examined tho books and accounts, of the Comstock Gold Mining Company (Limited) and balance-sheet as above, and have found all correct. D. B. McDonald, Auditor. Auckland, January 24,1893. On the motion of the Chairman, seconded by Mr 0 T. M. Baker, the report and balance-slieob were adopted., ELECTION' OF DIRECTOR, ETC. On the motion of the Chairman, seconded by Mr. T. J. Steele, Mr. Goorge Vidal was elected a director of the company. The retiring director, Mr. J. J. Dixon, intimated that) he did nob Intend to seek reelection. On the motion of the Chairman, seconded by Air. Baker, the retiring auditor, Mr. D. B. McDonald was re-appointed. This concluded the business. NEWS FROM THE MINES. [from OUR OWN correspondent,] Thames, Sabarday. KAISKR, . This company's crushing of 40 loads of ore, which has been under treatment all the May Queen Hauraki Company's battery for several days past, has been completed for the excellent return of 55ozs sdwts retorted gold. THAMK3-HAURAKI.

Operations during the past week have been confined principally to fitting up the air-compressing machinery, which is now completed with the exception of placing the Pelton wheel in position that is to drive the same, and to continuing the cutting out of the eastern chamber in the shaft at a depth of 270 feet from surface for tho tee-bobs that are to be used'in connection with the second draw-lifts. A further shipment of machinery, comprising about 142 tons, is expected to arrive shortly per the s.s. Indraghiri from London, and until it does arrive somo little delay will occur. AD the Deep Sinker section a depth has been reached for opening out for the first level, and; thosill" timbers placed in position, but prior to commencing to cub out the chamber it is intended W further sink the shaft a depth of about dU feet in order to provide a good ".well-hole" for the water which drains from the surrounding country. By providing such a deep well, Mr. Dunlop hopes to be able to . confine pumping operations to about eight hours per diem, instead of, having .to keep up constant pumping as is the case •at the present time. ; Rather tight country, is being penetrated jusb now. ; ' ["/. DARWIN GOLD BEEFS. ' , •'

Operations in this mine, which is situated at tho* head of the Waiotahi;<and Moanataiari Creeks, are confined solely for the present to the sinking of a winze upon the . Mulfcum . in Parvo reef \ below the old Multum level. The object of the winze is to ascertain whether or not a run of gold that was worked upon 'successfully at (a higher level continues downward or not, and it is intended to open out an intermediate level later on from the winze for purpose of ... - ' i ..'

driving: upon the ; reef ,in both directions. If,; payable r gold\ißVmeb with then the reef will also be operated upon from the old Bright Smile low level, which is fully SO feet deeper than the Multum level, and at which point the reef is already intersected at the present time. The winze has attained a depth of about 18 feet. The reef has varied from four to five inches in thickness and shown nice colours of gold, besides favourable • mineral indications. The country is also of a most congenial claeß, and the prospects generally aro of a promising character. The chairman of directors (Mr. Heather) visited the mine during the week, and appeared to be very pleased at what lie saw. „

SOUTHERN MINING. I [BY telegraph.—press association.] Inveroargill, Saturday, The Invercargill Company, which took up the Arrow Palls claim, obtained 78oz from the first wash-up. This gratifying result has created excitement in mining circles. Greymooth, Sunday. The Reefton gold returns are: Buller Dredge, 240z of gold for 132 hours.