Inkerman Company.

Otago Witness, Issue 1637, 7 April 1883, Page 22

Inkerman Company.

The half-yearly meeting of shareholders of the Inkermanr. Quartz- uiuiug Company (Limited) was held on Fri %y at the registered office of the Company, ■when- the report and balance-t-hee& were read nd adopted. The »e.tirinit directors were re-elected, Mr Evans, of Eeefton, being selected to . till tbe vacancy caused by the retirement of -Mr M. Levy.

In their report the directors stated :—: — " Your i,'ireetonThave t b'een in treaty with several firms for the supply and erection of crushing plant, and after ' consideration of the various, offers have decided to accept the offer of Mr Anderson, of Chrisrchurch, to'Biipply and erect a plant consmtiug of 30 head of 7cwt. ■ stampers; 6 burdans, 6 percugtion tables, copper- -plate and blanket table*, batteryhouse, engine mid two Cornish boilers, all complete, for the HUtn of £45)4; the contractor to work ihe plant lor one month bef re delivery, the Company to find laboufr' during that month; the Com) 'any to pay carria -.c f r'pm Orejinouth to battery site -estimated to cost about £8 per tun.

"The contract has been concluded on most exceptionally favourable te> ma— namely, £20(0 cash pio rata on ( the> c< ntract, and the balance in six inomhu from We. date ot tiding over the bat cry. " Thefbattery yvil be capable of crushing a.t least 1200 tons ) er month, which quantity ahou d be avaifable regularly. The reef ia proved without a break for the depth before given ' it has been proved to he 20ft thick in tbfi only two places 'that the^reef han teen crosscut -upon. About 400U torw were crush'-d some jears ago from tne upper portion of ■ the r^ef, over No. 2 level, which gave an average reiurn of Adwt to the ton from the poorest part of the reef. The quarts obtained in sinking frora-No. 2 to the No. S leve- showed better gold. None of thu stone has yet been crushed.

" The Directors hope to be able, in the coureo of six month*, td have the miae and work* iv full and profitable operation."