MINING.

Otago Daily Times, Issue 19505, 13 June 1925, Page 13

MINING.

NOKOMAI HYDRAULIC SLUICING . COMPAN Z. ANNUAL MEETING. The 27th annual meeting of shareholders in the Nokomai Hydraulic Sluicing Company was held in Mr Hum Poy’a office yesterday aiternoon. Mr H. Crust (chairman of directors) presided, and there was 10 shareholders present. In moving the adoption of the report find balance sheet, the Chairman referred to the past year’s operations of the company The directors regretted having again to meet shareholders with so unfavourable a report, the deficiency on the year's working being again roughly £I2OO, and making the total debit balance at March 31 last, as they would see from the balance sheet, £2404 4s sd. Of the total gold won—l2»)Soz 3dwt—No. 2 claim won 8370 z 12dwt, while No, 3 got only 3700 z lldwt. A high reef carrying little gold ran through most of the ground. There were three paddocks to work to finish the No. 3 block. The bottom was dipping and the directors hoped that it would give improved results. The new ground taken up on the Lower Nokomai Flat had been prospected bv nutting down four bores, and the depth was ascertained to be from 84ft to 96ft, with hightlv satisfactory prospects as could be seen from the samples. The question now wee how the company was to proceed—whether to raise extra capital and work the ground itfielf or liquidate and sell the property. The directors proposed to call an extraordinary meeting of shareholders without dalay to decide the mutter. . in seconding the motion, Mr H. K. Wilkinson said the directors hod been very disappointed with the results from the No. 3 claim. They struck some high reef with next to no gold in it, and that accounted very largely for the loss made last year. The company had practically got to the position that it must raise new capital if it was to continue operations. Some 12 months ago the directors realised that they were, netting towards the end of their tether in regard to ground, and they took up_ a new claim which was always reputed to be very rich ’ Boring was being done close to their claim, and that made it opportune for them to get the plant to test tn© depth of the "round The great value of the boring was °shown in the uniform depth of the bores. Ho thought they had a very valuable claim. The question the directors had before them now was whether, the shareholders thought it advisable to subscribe new capital to work the claim by hydraulic methods or whet'-er it would be better to dispose of their interests. The directors would be able to put something definite before them in a short time. . The motion was earned unanimously. Mr L. D. Ritchie was re-elected to the directorate. , The retiring auditor (Mr B. T. Wheeler) was re-appointed. The remuneration of the directors was fixed at the same amount as they received 1A year (£150). , A vote of thanks to the chair concludej the proceedings. GOLF. PROFESSIONAL TEACHERS. HITCH IN ARRANGEMENTS. (Pee United P.eess Association.) WELLINGTON, June 12. A hitch has already developed in , the arrangements by which the professional golf teachers were brought out to the New Zealand Council. The association called on F. M. Dean to undertake a three weeks’ tour in North Canterbury, and he refused, claiming his engagement was for the North Island only. Mr Abbott, who is away from Now Zealand, was cabled to, and he replied that Dean’s acceptance was unconditional. Nevertheless. Doan persisted that ho would give up his position rather than go south, and the council accepted his resignation, informing him that it was greatly disappointed at his action, which was regarded as a distinct breach of the agreement. LADIES’ CORONATION MEDAL. (Pee United Peess Association.) WELLINGTON, June 12. The Ladies’ Golf Union coronation medal was played for on all golf courses in New Zealand during the !a-st week in May. The following are the best cards returned (the par of each course is given in parentheses) Miss Mogpnie (Rotorua) 84-13-71 (76), the winner; Miss M'Govern (Auckland), 83-15-73 (76); Mrs Gardner (Auckland), 83-10-73 (76); Mrs Hamlin (Auckland), 92-18-74 (76): Mrs Mayne (Richmond Hill), 96-19-77 (80): Miss MUarthv (Motueka), 88-18-70 ( 72); Miss O. Kay (Whangar&i), P 6-8-78 (80); Mrs Wilson (Auckland), 94-20-74 (76).