NEW ZEALAND MINES IN LONDON. (From Our Own Correspondent.)

Otago Witness, Issue 2258, 10 June 1897, Page 22

NEW ZEALAND MINES IN LONDON. (From Our Own Correspondent.)

Loneon, April 23. j If anything had been needed to deepen the ! deadness of New Zealand mining matters in London, Easter week with its holidays would have exactly fulfilled the requirement. In conversation to-day with various financialluminaries in the city the same story was told to me over ; and over again with wearisome reiteration that j there was nothiug doing. One, however, himself an ex-New Zealander, gratuitously added j the information that in his opinion New Zealand shares were even deader than the others, although that, he admitted, was saying a good I deal. But everybody seems to agree that until affairs in the east of Europe, snd slill more in South' Africa, assume a somewhat settled shape, there is little hope of much mitigation of the slump which has prevailed to so serious an extent for a considerable time past. With a capital of £150,000 in £1 shares the C&nton (Waipori) Mining and Electric Power Company (Limited )u) v has been registered. The objects are : — To adopt and carry into effect, either with or without modification, an agree- j menfc dated March 29, 1897, and expressed to be ! made^betweeu the New Zealand Minerals Com- j pany (Limited), of the one part, and H. Caut, as trustee for and on behalf of this company, of the other part, being an agreement for the sale and purchase of certain raining properties, claims, and water rights at Waipori, in the colony of New Zealand ; to develop, deal with, : and to turn to account the same in such manner as the company shall see fit. The signatories are : G. Kerr, S. H. Stacey, A. E. Thompson, G. Salter, W. Maodonald, E. Heasman, A. S. King. The number of directors is not to be more than seven nor less than three. The subscribers are to appoint the first. Qualification, £100 ; remuneration, £150 each per annum — £200 for the chairman and a share in the profits. On the 4-th of May the meeting of the Goldfields of New Zealand Company will be held, and the firtt report of the directors with accounts, from its incorporation to the 30th September last, will be presented to the shareholder!. The directors have adopted the system of valuing all interests at cost, while the expenditure in obtaining options which have since expired and in developing and proving the said properties prior to their abandonment, has been debited directly to profit and loss. The balance at debit thu3 obtained — namely, £1961 — should therefore be regarded sot as a loss but as a first charge against future profits as and when the latter are realised. The valuß of the interests now held are brought into the balance sheet at the extremely moderate figure which was actually appended. The directors append a full report from Mr Seaver. A special general meeting of the Haaraki Associated Gold Mine 3 Company took place yesterday at Winchester House, the chairbeing occupied by Mr N. P. Tronson. The chairmau explained that the object of the meeting was to consider a scheme for raising additional capital by meane of a process of reconstruction. Until quite recently the directors anticipated that the amount of capital subscribed would have been sufficient to bring the property to a crushing point, but delays and difficulties, due to exceptionally heavy rains, and of obtaining suitable timbers for the foundation and erection of the machinery, &c, had occurred which rendered it necessary to approach the shareholders. Since the formation of the company the directors had secured most valuable additional claims (at an almost nominal cost), raising the total acreage to 86 acres. This placed the shareholders' property in the position of being able to form subsidiary companies ■when favourable opportunities sboald arise. The following resolutions embodying the scheme were then put and were carried unanimously :—: — " (1) That ib is desirable to reconstruct the company. (2) That the Hauraki (N.Z.) Asao-

ciated Gold Reefs (Limited) be wound-up | voluntarily, and that Messrs Henry Times and William Antrobus Luning be and are hereby sppoiuted liquidators for the purpose of such winding up. (3) That the said liquidators be aud aro hereby authorised i to consent to the registration of a new company, to ba named the Hauraki (N Z ) Associated Gold Mines (Limited), or some other suitable name, with a memorandum and articles of association which havo nlready been prepared with the privity and approval of the directors of the company. (4) That the draft agreement submitted to this meeting and expressed to be made between this company and its liquidators of the one part and the Hauraki (N.Z.) Associated Gold Mines (Limited) of the other part be and the same is hereby approved ; and the said liquidators be and aro hereby authorised, pursuant to section 161 of ' The Companies' Acts, 1862,' to enter into an agreement with such new company (when incorporated) in the terms of the said draft, and to carry the same into effect with such (if any) modifications as they think expedient." These resolutions will be submitted for confirmation at a second general meeting to be subsequently convened. The latest quotations to-day for New Zealand mines are the following : — Achilles, 1/9 — 2/3; Blagrove, 1/3—l/9 ; Consolidated Goldfielda of New Zealand. If— 2^ ; Aroha, gg — £ ; E»sb Hauraki, -/9— l/3 ; GHenrock, -/9— l/3 ; Gloucester, 1/ 2/0; Hauraki, 9/6—9/-; Hauraki Associated, nil /6 ; K»p*mg», 7/- — 8/- ; Kathleen, 2/ 2/5 ; Kathleen Crown, 1/3—l/9 ; Kauri, 1£ —g ; Kotaata, Reefs, 10/ 11/- ; Komata Queen. 2/6—2/9 ; Maoriland, -/6— l/-; Mount Lyell, 7|— l ; Moan&taiari, 1—1|;1 — 1| ; New Hauraki, 1/- —1/6 ; NZ. Consolidated, g— g ; N.Z. Crown, -|— 1 ; N.Z. Joint Stock and General Corporation, 1| — fj-prem. ; do Founders', 9—11; N.Z. Minerals, % d^ par; do Founders', 6—10; Preece's Point, 1/3—l/9; Royal Oak, I—l/ 6 ; TaitapuGold Estites, 1-^— g ; Tokatea, 1/ 1/6 ; Triumph Hanraki, -/6 — 1 : Thames Hauraki. j>—% ; Union Waihi, 1-16 — 3-16 prem ; United NZ. Exploration, |— 1£; Waihi, 5J— 6 ; Waihi -Silvertop, -|— 2 ; Waitekauri, 2| — j{ ; Waitekauri Extended, 3/S — 4/6 ; Waitekauri Cross, | — | ; Waitekauri United, -i—i piem. ; Wood&tcck. lg-| ; Irene, 2/— 3/- ; K*pai-Ver-mont, %— l£; Mount Lyell South, 7-16— i; Globe Venture Syndicate, I—l£.1 — I£.