MINING.

Otago Daily Times, Issue 17327, 29 May 1918, Page 6

MINING.

A cablegram has been reoeived from the London otuoe of the Waihi Urand JunctfeS Company, etatmg that after writing off f« depreciation of plant £13,320, and development redemption £29,032 10b, the accounU of £54,900. This, added to the credit balance last yea? S,Vrf j -5T . aooount - The interim dividend paid in Novemhor «hc™.k,j SSg-J""?* , £ » ThfdirecS commend a final dividend of 5 per cent., the fact that considerable reduction must be made m all probability, in the tonnage SkilSi o, T ng t. to the depletion 7>f skilled labour due to the war, and difficulty and delay in effecting necessary repairs to the plant, the balanoe of £36.479 beNaxried d£T a ,thou * an y appropriations. The dividend, if confirmed at the annual meeth?\ the total disbursed to shareholders to £260.000. BROKEN HTLL PROPRIETARY COMPANY. BIG INCREASE OF CAPITAL. Press Association—By Telegraph- Copyright. Australian and N.Z. Cable mSf ££l meeting to be held on June 10, the Broken Hill Proprietary Company has decided on increasing the authorised capital of £600 000 m one million and a-half original sKTf 8s each k> a capital of £3 000,000 bythe creation of one million and a-half additional shares of 12s each, and one million and * naif additional shares of £1 each. Briefly, the proposal is that 3i8,994 now unissued shares be offered to present shareholders at 40s per share pro rata to their existing holdings. When that issue has been completed, £900,000 will be taken from fhe reserve fund and be distributed in the form of a bonus of 12s per share upon the original one million and a-half shares of Bs. whHi will then consist of one million and a-half tl enares. Then a further £600,000 will bo taken from the reserve fund and distributed among shareholders in the form of a share bonus of 20s for every two shares and a-half of the one million and a-half, making the SS&SP ."W'W £2,100,000, and leirine SOJ.OOO shares in reserve. It will be announced to shareholders that the demands of the Australian and Imperial Goyernmente for steel products is so areat that the early completion of the extension ot the company's works is a matter of crow.ing importance to the community