MINING.

Otago Daily Times, Issue 18158, 1 February 1921, Page 7

MINING.

The Albumia Consolidated Company has been registered, with a capital of £50,000. It has Been decided to drive a new adit level from the Moanataiari Creek side of the property to a (distance of 800 ft. At this distance Dixon’s Reef will be intersected at a depth of 170 ft below the Roce and Shamrock level. This level will test ah extensive block of gold-bearing country en route to Dixon’s Reef, as it will be a crosscut to the lino of reefs, the Sons of' Freedom, and Dixon’s, which are strong veins, averaging from 3ft to 7ft. The preliminary works are now in hand. A track is being made into' the site of the level for the purpose of getting material forward for the construction of the necessary buildings and mine timber. An air compressing plant will probably be installed to speed up the development.

RISE AND SHINE COMPANY,

Tbe following statement of the affairs of tho Rise and Shine Gold Dredging .Company, formed and registered on February 24, 1900, is extracted from tho New Zealand Gazette of January 20: —Nominal capital, £12,000; amount of capital subscribed, £10,000; amount of capital actually paid up in cash, £9746 3s 8d; paid-up value of scrip given to shareholders, and amount of cash received for same (if any), nil; Paid-up value of scrip given to shareholders on which no' cash has' been paid, £2000; number of shares into which capital is divided, 12,003; number of shares allotted, 12,000; amount paid per share. £1 (less amount due on forfeited shares); amount called up per share, £1; number and amount of calls in arrear, 12, £253 16s 4d (on forfeited shares); number of shares forfeited, 1335; number of forfeited shares sold, and money received for same, 1335 (£739 11s 3d); number of shareholders at time of registration of company, 158; present number of shareholders, 147; number of men employed by company when dredging, 9; quantity and value of gold produced during preceding year, 4650 z 12dwt (£2601 6s sd); total quantity and value produced since ■' registration, 51,5080 z I2dwt 7g (£199,892 7s' 3d); amount expended in connection with carrying on operations since last statement, £3IOO 19s 5d (including £667 6s Id liabilities from previous year); total expenditure since registration, £158,863 Os 2d ; total'amount of dividends declared, £53,100; total amount of dividends paid, £63,100; total amount of unclaimed dividends, £37 10s; amount of cash at bankers and post office, £1342 7s 2d; amount of cash in hand, nil; amount of debts directly due to company, £255 16s 4d (by original holders of forfeited shores); amount of debts considered good, nil; amount of debts owing .by company, £360 17s 7d; amount of contingent liabilities of company, nil