MINING NEWS.

New Zealand Herald, Volume LXIX, Issue 21100, 6 February 1932, Page 5

MINING NEWS.

OKARITO DIVIDEND. DISTRIBUTION OF 10 PER CENT. [BY TELZGK.IPH- —OWS COHjaEHPOSUEST.} DU3ISD2X FOSmt^ The secretary of the ©kanlo Fit® MBe Beach Gold Dredging Company, Liss;u«d, advises that- at a meeting director& iela cm Mondav, it was resolved that a dividend {tile first) of 10 per cent, being 6d a. share, should be declared. The dividend is payable on February 17. > The conroany's claim is aafcnaifid :■& Okarito, South WesOacd, 63 miles soothof the township of Boss. Okanto was the centre of a big gold rush in the late Ws, and some remarkable retains were secured. The company is a Thmedin promotion, but a considerable anmber of shares is held in CbnsfccharcJt and Auckland- The capifcail is £30.083* divided into 123,000 share* of Ss each. Gold won sines tie connnencismant of dcadg* ing on Jane 16, 1331, so October it, totalled ICSCoz., an average of 68oz15du*t. a week, and the year's operations showed a profit of ;E2172. _ It was announced in the annual report issued m Decwnber thai the directors Believed tbs • company's finances would permit _ payment of an interim dividend early in tie new year.

GOLDEN POINT RETURN. TOTAL OF ISIjOZ. IN JANUARY. Tbft return of the Golden Poini Company (Central Otegc) for Janvzxyj* as follows —Srneltitfl gold. 9Baz. SdtrL, cold concentrates, 12 terns J assayfng. Soz. llgT- to tie ten, bSoz. sdwL; total. I66nx. 23d wt. golden progress payment. DIVIDEND -OF 12J PEE CENT. . f E y TEUEGRATH. —OWN COKJtZSPONDEST.} DUXEDIN, Friday. The annual report of the Gojden Progress Quartz Mining Compaq, 1*&(Central OUgo), sta.es that thgfcfen|esheet showed a satisfactory profit; .at tft« end of the year of £4518, after ihe vcar unth a debit of *£Bll. - XB; September it was acrwfd to place £IK» oTj fixed deposit m of a reserve JobjL EcS&ttj *ihe '.bsilsnea available the directors rasssrqiKsaded payment of a divader.d of li% per «nt. on the issued capita! of the ccrapauj. triadi wSI absorb £3544. __ The paid-Tip capital is £14..z00. The dividend is payable on February Ifi. KING SOLOMON DEEP LEAD. WASH-UP OF 36Q2t FOE WEES-, [by nxraaAPH.—raxss association.] INTESCA3OILL. Fri4ay. The King Solomon Deep Lead (Gore) -wash-up -aras 0602. I2dir:~ vree*. work-