LATEST MINING NEWS
MARTHA COMPANY’S PRODUC - TION IN 1939 INCREASED VALUE OF RECEIPTS Gold and silver to the value of £421,959 were produced in 1939, states ti cabled summary of the annual report of the Martha Gold Mining Company (Waihi), Ltd. This compared with a production value of £401,114 in the previous year. Interest provided a further £9102. making a total for 1939 of £431,091. A sum of £70,217 was provided for income tax and National Defence Contribution. In addition £5411 was paid in export duty on gold and rents, £25,225 in respect of special export duty on gold, and £7652 in respect of special war duty on gold, making a total of £38,288. The directors propose to transfer £3OOO to stall' fund from a credit balance which was established in 1936 for exchange purposes and is no longer required. During the year 195,047 tons of new ore were developed. In the general account there are 110,890 short wet tons of an average assay value of 30/2 a ton (dry weight) aud ! t in the suspense account there are|] 147.77 S tons of an average assay') value of 34/5 a ton (dry weight). The general account shows a decrease [ t of 17,157 tons, including 5455 tons j c written off, and the suspense account i ( i decrease of si.B 7 tons, a total decrease of 25,344 tons. |
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Waihi Daily Telegraph, Volume XXXIX, Issue 9520, 8 May 1940, Page 2
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227LATEST MINING NEWS Waihi Daily Telegraph, Volume XXXIX, Issue 9520, 8 May 1940, Page 2
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