THE GOLDFIELDS.

New Zealand Herald, Volume XLII, Issue 13054, 20 December 1905, Page 3

THE GOLDFIELDS.

WAIOTAHI. The transfei bocks of the Waiotahi Gold Mining Company will be closed 011 December 27 and 28 for the payment of a dividend. NEW BUNKER'S HILL. An extraordinary general meeting of shareholders in the Bunker's Hill Gold Mining Company was held Yesterday afternoon at the office of the secretary (Mr. 0. A. Stubbs), Mr. A. Heather, chairman of directors, presiding. The resolutions passed at a recent, meeting, authorising the reconstruction of the company under the name of the New Bunker's Hill Gold Mining Company, Limited, with a capital of £25,000 in 200,000 shares of 2s 6d each, were confirmed.

HIDDEN TREASURE G.M. CO. AX UNFAVOURABLE REPORT. An extraordinary general meeting of shareholders in the Hidden Treasure Gold Mining Company, Ltd., was held in St. George's Hall, "Grey Lynn, last evening for the purpose of receiving reports on the mine and the reduction works and discussing the question of future operations. Mr. H. C. Ohoyce (chairman of directors) presided, and there were between 50 and bO shareholders present. The cltairman .stated that the meeting had been called for the purpose of receiving the reports made on the mine and the reduction works , by Mr. C. E. Storie (a member of the" ! Federated Institute of Mining Engineers, I England). Mr. Storie, in his report on* ' the property, referred in detail to the re- I suite of his inspection, and, in conclud- I ing, stated:—"Having failed to locate any ' ore body of value on your property, and in * consequence of the negative results every- J where obtained, I am compelled to report ] to you that there is absolutely no confirmation of the values supposed to exist throughout the lease, and I cannot recommend any further expenditure on the mine." In a. subsequent report on the reduction works Mr. Storie stated that these works should never have been erected ; they were located in a bad position for economic working; the furnaces were totally inadequate to treat any great quan- ■ tity of ore economically and effectively, oven assuming that the process was right and the values were present. He' gave details j of various tests of ore made by him, all of which, he said, gave negative results. He also referred to the measures employed in connection with the previous treatment j of ore. Mr. Storie recommended that a. \ man be placed in charge to clean up the plant and prepare it for stile. The secretary (Mr. W. H. Hemingway) stated that the unpaid calls amounted to £128. The total liabilities were £94. The book value of the company's property was £1120. The Chairman said if it was decided to wind up the company they would probably be able to do it without a call. In answer to Mr. Whisker the chairman said that the directors had every faith in Mr. Stories report. In reply to another shareholder it was stated that, the total bullion extracted from the mine by Mr. Bastard sold for £105. Mr. C. Hartley said that Mr. Bastard had obtained gold from every assay made by .him. and a parcel which Mr. Bastard had had nothing to do with had yielded j £8 a ton. A shareholder having asked j why Mr. Bastard was not present, Mr. I Hemingway said he had asked him (Mr. * Bastard) to attend the meeting. The lat- * ter, however, had declined to attend unless i Mr. Storie was also present. - I In answer to a question Mr. Whisker i said he had broken out the ore treated j by Mr. Bastard. . After some further discussion it was re- ! solved, on the motion of Mr. Jackson, j that the meeting be adjourned till about ! the middle of January, in order that Mr. Bastard may have an opportunity of. stating whether he will undertake the treatment of a. further few tons of ore. ' WAIHI EXTENDED. [BY TELEGRAPH.— COBRKSPONUSST.] Waihi, Tuesday. Mr. Johns, manager of the Waihi Extended, returned from Auckland this evening. The lode will now be proved. A very kindly feeling exists towards the mine, and' a good demand set in for shares to-day. WAIHI BEACH. . [Br TELEGRAPH.—OWS COKRESPOJTDEST.] Waihi, Tuesday. Very satisfactory reports continue to come to hand from the Waihi Beach claim, the lode having now been penetrated for a width of 36ft, without any sign of the footwall. The stone is showing an improvement as advancement to the footwall is made. DREDGING RETURNS. [BY TELEGRAPH. —PRESS ASSOCIATION'.] DtrxEDLN', Tuesday. During the week ended yesterday returns were reported from 35 dredges, the total gold yield being 9730z 15dwt 2gr, an average of 270z per dredge. Additional returns received! are as follows:Waimumu Queen, 290z odwt ;, Waikaka, 260z loVnvt; Royal Waimumu, 2'loz; Loch Lomond, 16oz lOdwt; Taniwha, 9oz l'idwt.