LOCAL INDUSTRY G.M. COMPANY.

Otago Witness, 14 December 1893, Page 13

LOCAL INDUSTRY G.M. COMPANY.

The annual meeting of shareholders of the Local Industry Gold Mining Company was held in the company's office, Lawrence, on Monday, the 11th inst., when most of the shareholders were present. Mr James Chalmers, chairman of directors, took the chair, aud submitted the annual report and balance sheet, which were received and unanimously adopted. The report, which was brief and to the point, congratulated the shareholders at being possessed of one of the be&tpaying properties in New Zealand, the balance sheet showing that during the past year shareholders had received in dividends 50 per cent, on their paid-up capital. The two retiring directors, Messrs W. Johnston and A. M'Kinlay, were reelected, and Mr Duncan Beaton was elected in place of Mr Mills, resigned. Mr J. C. Love was reappointed auditor. Hearty votes of thanks were passed to the directors for their careful management, also to the working manager, Mr Samuel Johnston, and the working staff under him for their diligence under very trying circumstances during the late flood. The mine and plant were reported as being in first class order.