·1
Maroh 6, 1895.]
MAN proposed the adoption of the report and accounts as presented.
Mr. BAILEY-I beg to second that. Carried.
Mr. BAILEY-I beg to propose the re-election of Messrs. Parlane and Rodger on the Consult ing Committee.
Mr. Cox-I have much pleasure in seconding. Carried.
Mr. WILCOX-I have much pleasure in pro- posing that Mr. Thomas Arnold be re-elected auditor.
Mr. WINTERBURN-I have much pleasure in seconding that.
Carried.
:
The CHAIRMAN-That concludes the business, gentlemen. I thank you very much for your attendance. The dividend warrants will be issued to-morrow morning.
Mr WILCOX-Shall we have to send for them? The CHAIRMAN-No; we always post them. Mr. BAILEY-I propose a vote of thanks to the Manager for the very satisfactory balance sheet which has been issued.
Mr. MORE-I beg to second that.
The CHAIRMAN+I thank you very much, gentlemen. I will try and do better next year if I possibly can (hear, hear).
GREEN ISLAND CEMENT CO., LIMITED.
On Thursday afternoon an extraordinary gen- eral meeting was held at the Company's offices, Praya Central. Mr. J. Kramer presided. There were also present Messrs. Suidter (Secretary), R. Shewan, G. Murray Bain, E. Goetz, and Wong Shing.
The CHAIRMAN-Gentlemen, this meeting has been called in order to confirm the special resolutions passed at the extraordinary general meeting of the Company held on the 8th inst, and now beg to propose-" That the special resolution passed and confirmed at the extra- ordinary general meeting on 12th April, 1892, and 5th May, 1892, be and the same are hereby annulled," Secondly: "That Messrs. Shewan & Co. be appointed general managers of the Company; such appointment to date from 28th February, 1895," be confirmed.
Mr. GOETZ Seconded the resolution. Carried.
The CHAIRMAN-That is the whole of the business, gentlemen. I thank you very much for your attendance.
THE HONGKONG FIRE INSURANCE COMPANY, LIMITED.
The following is the report for presentation to the shareholders at the twenty-sixth ordinary annual meeting to be held on the 9th ins^. :--
The General Managers beg to submit to share- holders the twenty-sixth annual report of the Com pant
CHINA OVERLAND TRADE REPORT.
BALANCE SHEET, 31ST DECEMBER, 1894,
Dr.
LIABILITIES.
Capital subscribed
.$2,000,000.00
Amount paid-up.
Resorve fund
Uncollected dividends.
Working account, 1893- Accounts payable.
Balance from last account...$238,450,47 Add-Sundry premia, salvages,
&c., since collected
Less-Losses
and
other payments $253,110.48 Remuneration to
152,151.03
$390,601.50
consulting com- mitteo and audi.
6,250.00
259,360,48
tors
Net profit for 1893 Working account, 1894-
Amount brought forward from below...
Cr.
ASSETS.
Cash, on current account with Hongkong
and Shanghai Banking Corporation Cash in hands of General Managers Fixed deposit-
Hongkong and Shanghai Banking Cor Mortgages and loans-
poration
In Hongkong
In Foochow
IrAmoy..
In Shanghai
Properties foreclosed
.$733,500.00
59,000.00
20,000.00
722,182.55
179
No 1 South 110' Level-This point is being $ C.
pushed on with all possible speed and good pro- 400,000.00 gress made. Distance driven 53'. Total length 1,000,000.00 from shaft 238′ 6." The face is now in better 3,621.00 looking country rock and should be close to the 223,738.61
course of the reef A drive off the No. 1 north has just been commenced at a point opposite the new winding shaft, to go out to the Mill Gully reef at this level. Distance driven 15'.
131,241.02
|167,223.19
$1,925,824.72
Mill Gully Tunnel-This point has received great attention, and notwithstanding the fact that the old workers had been there before us. some very fair ore was obtained; we are simply taking out the blocks of ore left by them. The drive south on the course of the reef has been extended 25 feet, the greater part of the distance through a large block of ore left just above! water level. Stoping over the back of this sonth level is being carried ou aud fair quality ore got for the mill. he north drive has been extended 23 and is now iu nice looking shte country; but up to this we have not found the continuation of the reef in this direction. $ c. A crosscnt west of this north drive has been 20,674.45
driven, 40', but so far there are no signs of 879.73 the reef.
I shall continue the north drive and run out crosscnts so as to thoroughly test this point. A small shaft to ventilate the ground 160,000.00 about 16) ft. north of the Mill Golly tunnel bas been sunk to a depth of 55, and a suall crossent is now being driven off it to see if the continuation of the reef can be traced nearer the surface.
— 1,534,682.55
55,011,48
Hongkong inland lot 37 and R. P. of 265
Investments-
Chinese Imperial
ment loan, 1886 200 shares in the Hongkong Land Investment Company, Limited ..... Debentures-Hongkong and Kowloon Wharf and Go- down Co., Limited..
Govern-
$33,415.73
10,400.00
30,000.00
157.00
5 shares in the China Fire In-
surance Company, Limited Steam fire engines..... Accounts receivable.
The No. 1 North Kludi tunnel has been ex- tended a further distance of 47, making it 5' from its mouth. This tunnel should strike the. course of the Mill Gully reef within the coming month.
Upper Stopes-These are in good order and continue to give the usual quantity of fair grado. ore for the mill.
| Various small drivages, amounting in all to 181 ft., have been made, but as they are of minor importance can hardly be more thau mentioned in this report.
73,972.73 2,000.00
Milling-This was carried on during 27 days, 68,670.58or, allowing for lost time consequent on repairs to No. 1 Box, 243 days with full battery; crush; $1925,821.72 ing 614 tous of ore from the mine for 302 oz. 8 dwis, of gold, and 406 tons of old headings for 50 oz. of gold.
To net premia, received, less returns and
WORKING ACCOUNT, 1894.
re-insurances .......
To interest account. To transfer fees..
By losses and claims paid By charges-
Head office and Eastern Agencies, 21,700.07 London branch....
By commissions... By balance as above...!
C.
$
315,824.67
Cyanide Works-he carpenters are now busy 114,791.22 with the roofing and I am hoping to see good 114.00 progress made during the coming month. I I may tell you the Chinese New Year holidd ys $430.732.89 have delayed work in many ways.
163,352.60
$
c.
46,362.39
71,063.08 29,004.01 167,223.19
$430,732.89
THE PUNJOM MINING CO., LIMITED The following is the Manager's report for January, 1895 :-.
August Shaft. 200ft. Level.-The No. 1 cross- cut is still being driven east to connect with the 1893 account.The result of the year's working seeing this completed in a few weeks.
north and south reef, and I am in hopes of shows a balance at credit of $131,241.02, which sum,
The with the approval of the Consulting Committee, it is ground is very hard and bad for blasting, con- now proposed to deal with as follows:-
Bonus to contributing shareholders... $ 19,241.02
sequently the progress is slow. Distance driven 8' 6". Dividend of $14 per share....
112,000.00
No. 2 crosscut without change to notice. Distance driven 19'. $131,241.02
Total length from No.1
BRITISH AGENCIES. These have been closed.
MORTGAGES. The General Managers and Consulting Committee are satisfied that the securities held by the Company form an ample guarantee for the advances made.
CONSULTING COMMITTEE.
The present members, Messrs. Chater, Moses, Bird, Holiday, and Lewis retire, but offer themselves for re-election.
AUDITORS.
The accounts have been audited by Messrs. Fallar- ton Henderson and A. Coxon, and their re-election is recommended.
JARDINE, MATHESON & Co.. General Managers, Hongkong Fire Insurance Company, Limited. Hongkong, 27th February, 1895.
north crosscut 168′,
The south drive on the course of the north and south reef has been extended 20′ 67, making it 93 6" from the No. 2 east crosscut. The reef is strong and well defined, but up till now is too poor for milling. I am, however, looking for an improvement hero daily,
Intermediate (150) Level-The No. 1 crosscut has been restarted to go out to a leader known to exist about 30 ft. north of Phillips' leader. Distance driven 12. 6". Total length from shaft 147'. 6.
The south drive on the course of the east and west reef has been extended 37', Very fair quality ore has been obtained at this point and I am hoping for a continuance of this. Phillips' leader is being stoped on, but so far the ore is only of low grade. I am also hoping for an early improvement bere.
Labour-This continues fairly plentiful. General-The work coming under this had has had the usual attention.
Health-This is fairly good.
RAUB.
The mining manager's report for the four weeks ending 9th February, 1895, runs as follows:-
Raub Hole No. 1-Level. The only work going on in this level is working the small cross leaders, which show fair gold, but are small. In the intermediate drive between the No. 1 north and south winzes, we are getting some very good ore in the stopes, which are about 12′′ to 18′′ wide. There is still a good block of ground to take qut here.
No. 2 Level.-In the main drive going south good progress is being made, the ground being favourable for driving. Several more small cross leaders have been cut, showing fair gold. There appears to be a good extent of gold- bearing country at this level. The main lode formation still remaius small and shows no gold,
No. 2 Shaft. The main drive going south is now in 120 feet from crosscnt, the lode in the face being fully 3 feet wide, showing gold. The north drive is now in 100 feet from the cressent, with a lode about 10 inches wide in the face of solid stone, in which gold can be seen when break- ing. This drive is very hard and difficult to drive. In the stopes over the back of the south drive good gold is being got in all of them. lode in this end still maintains its permanent appearance and richness, I have every reason to expect a large return of gold from these work- ings during the present year.
The
Bukit Koman.-The only work being carried on here is stoping over the back of the main level at 140 feet and in the leader formation in- the shaft. There is no change to report in the prospects of either place; about half of the last