February 27, 1896.]
CHINA OVERLAND TRADE REPORT.
a result at last. Our output has increased, while our expenses have proportionately dimin ished, and as time goes on we hope to gradually introduce further improvements in the manufac ture and also greater economies in our expenditure, so that the present result may be considered as only the precursor of better years to come. Turning to the figures in the accounts I see no items in the profit and loss account which do not explain themselves, and as regards the balance sheet I have only to remark that the amounts standing against sundry debtors and sundry creditors have been practically all settled since the date of the accounts, 31st December last. I have now much pleasure in informing you that since that date also the Company has added to its possessions by the acquisition of the business and property of the Hongkong Brick and Cement Company, a kindred concern, which have purchased outright for $26,000, and I have no doubt that when I remind you that that concern spent over $80,000 ou what we
have bought and that for our 826,000 wo receive, besides the good will and pro- perty, roughly about $10,000 worth of stock on hand, you will agree with us that we have got a good bargain. The working accounts so far as they were made up when we took the business over showed a profit, and as the cost of management will now be much less, while we hope to economize in other directions and at the same time increase the production by im- provements and alterations in the machinery &c., we are satisfied that the business can be worked to advantage for this Company. Con- currently with this purchase we effected the sale in one block of the 1.192 unissued shares mentioned in the balance sheet at the price of $14 each, or a profit of St per share, nor shall we have to pay anything for legal advice or assistance beyond the actual cost of stamps and court fees, and if you take these facts into con- sideration as well you will find the purchase a still cheaper one. Those shareholders who con. cern themselves about the market price of their stock will no doubt consider that we were for- tunate in being able to dispose of all these shares at one time, as we should certainly have only weakened the market for them by peddling them out piecemeal. There is just one other matter I would like to refer to. From some unknown friend, who is apparently too modest to give his name, as he makes his communication anonymously, we have received a cutting of our advertisement in the newspaper, with the word ** Portland" underlined and the remark "Green Island Cement you mean pencilled in the margiu. Our anonymous friend evidently thinks that Portland cement can only come from Portland, but he is mistaken, and I am glad he has given us this opportunity of putting him and others, for he is not singular in his opinion, right on this point. Portland cement does not necessarily come from Portland, nor even from England, and although it may surprise our friend to learn it, it is none the less true that Green Island cement is Portland cement and that this Company makes and sells no other cement but Portland cement. Portland cement never was made at Portland and the
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Mr. BENJAMIN-I propose the re-election of Messrs Ewens, Li Seng, Orange, Fenwick, and Chater.
name, which I admit is somewhat misleading. was simply taken from its supposed resemblance to the limestone of the island of Portland, which at the time the artificial mixture now known as
Mr. MANNERS second. Carried.
179
| Labour. The supply of this was very short in the early part of the month, but has now be- come more plentiful.
Health. This is now fairly good again. Rainfall. The total rainfall for the month
Mr. BAIN-I beg to propose the re-election of is 23 inches. Messrs Henderson and Cox as auditors..
Mr. WILCOX seconded. Carried.
The CHAIRMAN-That is all the business, gentlemen.
THE PUNJOM MINING CO., LIMITED.
The Secretary of the Punjom Mining Co., Limited, advises us that he has received the following report (on work done during the month of January, 1896) from the Manager at the Mines:-
Mining-The very best attention has been given to all work coming under this head and I am pleased to say a fair amount of work has been got through. Our prospects continue to look encouraging, notwithstanding the fact that the ore won has been of rather low grade.
August Shaft 200 ft. Level-There is really no change to report at any of the points being operated on here. The north drive on Gillies' Reef is still in very broken ground and letting out water freely. A crosscut has now been started to go out East to see if the payable ore is in that direction. The course of ore we had passed through, and referred to in my last report as being about 5 ft. wide, has been main East and West reef. driven on and proved not to belong to the It is simply a floating or intrusive piece of reef having no defined trend or dip. We have now begun a crosscut north to see if we can pick up the continuation of our East and West reef in that direction. I may remark here that this cross- cut is west of the slide which cut off this
Portland cement was invented was in great favour in England as a building stone. It is chiefly made at various places on the Thames and the Tyne in England and also in France, Belgium, Germany, Denmark, Sweden, aud Norway. Green Island cement is in every respect true Portland cement and there is no reason whatever why Portland cement should not be produced at Macao as good as the best imported from the countries I have mentioned. On the contrary, there are many reasons why it should be better. I have dwelt on this point as I find there are many people under this same misapprehension as to what Portland cement really is, and now if there are no questions from shareholders I will proceed to move the adoption of the report and accounts as laid before you.
No questions were asked and Mr. WILCOX seconded the adoption of the report and ac- counts.
44
reef as it was followed west. We have suc- this slide in the upper workings and I sec no ceeded in finding payable ore to the west of reason why we should not do so here.
1.
Intermediate Level-All points at work here continued to maintain their average output of ore, and I am pleased to say the quality of the mouth. The western chute of ore on seemed to improve somewhat at the latter end
the E. and W. reef shows fairly well, and I can and above this level. now see a large reserve of ore for the mill at
Now Leader.-Most of the points operated on here are yielding ore for the mill and from all appearances will do so for many months yet. It is bere that 'we have discovered the payable ore referred to in an earlier part of his report. as being to the west of the slide." As a whole. I do not think the mine ever looked more
promising than it does to-day.
Driveage. The total drivcage for the mouth
is.
266ft. 6 inches 999 tons
and the ore mined made up as follows:-
Angust Shaft New Leader
648 tons
351 tons
Of course this does not include many hundreds of feet of stoping.
Milling. This was carried on during 27 gold 364 ozs. 2 dwts. T." days, crushing 1,000 tons, yielding of smelted
RAUB.
The following is the mining manager's report for the four weeks ending February 6th, 1896
Ranb Hole No. 2 Shaft.-The main drive going south at the 220 feet level has been extended 19 feet, making the total distance from the crosscut 89 feet. The ground is still hard black slate. The lode formation is about 3 inches wide, but shows no gold. The uprise being put in from the back of this level to meet the winze is now up 19 feet; there is still 13 feet to rise to hole through to the winze. This I hope to complete during the next two or three weeks. Owing to the inexperience of the coolies at this class of work and hard- ness of the ground it has been very difficult to get this work done at all. We have also been greatly troubled with bad air until I put in a water drop to ventilate it. The rise is almost dry, although the winze above bas 57 feet of water standing in it. The lode forma. tion in the rise is from 3 to 4 inches wide, but shows no gold.
General.-The usual attention has been given to all work coming under this head. Roads into the jungle to reach our timber reserves have been extended and a gang of men set to work to open the water race preparatory to the erection of a water wheel to assist in driving the mill machinery. The calcining plant is well in hand and should be completed within the next fortnight.
I regret to have to report the breaking out of pleuro-pneumonia among our cattle, causing the death of sixteen head and thereby involving much loss and trouble. You will be able to form some idea of this when I tell you our cart age amounts to about 700 tons per month and has to be brought in from distances varying from one to three miles. We have managed to keep the mine and mill going, however, and I now think we shall continue to do so. Carried unanimously.
Gold Stealing.--I am pleased to say this has The CHAIRMAN-The next business is the abated and I am in hopes of stamping it out election of the consulting cemmittee.
altogether.
Main Drive going North.--This has been ex- tended 23 feet from the crosscut. The lode here
is the same as in the south drive and the same remarks will apply to this as to the south drive.
120-feet Level. The small cross leaders being worked at this level still continue to show good gold. The one in the drive going west towards the old original Raub hole workings shows a vein no thicker than a knife blade. In places it is a thin speck of almost pure gold in hard black slate. I have sunk a winze on the leader going east from this level and am now dówn about 20 feet. The leader still carries gold, but is not quite so good as in the drive above. This winze is perfectly dry and the ground is good working black slate. Although these leaders turn out very little crushing stuff there is a good deal of gold in it.
Bukit Koman.-The stopes over the back of the main level are not looking quite so well as they were at the date of my last report. The lode has became more mullocky in places. In the face of the north stopes the lode has con- tracted to from six to seven feet, the same as it did in the level below. But in the south end
both the stopes and the level are looking re- markably well, especially the leading stopes and the face of the main drive. In the stopes over the back of the level the lode is from 15 to 18 feet wide and shows good gold, with every ap- pearance of widening as it goes down. The face of the level is 60 feet ahead of the stopes, all in solid ore for seven feet wide; how much wider the ore is I cannot say. The whole face shows fair gold. There is a good deal of water coming from this end, which until the last few feet was almost dry. A large quantity of crush- ing stuff has been sent to the mill from these stopes during the month.
Engine Shaft. The water has all been got out and sinking resumed; six feet has been sunk, making the total depth below the 146 ft. level 95 feet. I hope to have the shaft sunk the required depth and opening timber placed in position during the next month. The work of cutting the No. 2 chamber and fixing the new 10 in. pump will then be proceeded with. A new brass liner has been fitted to the pump in this shaft, the old one being worn out.
No. 2 Air Shaft South. This has been sunk and timbered to a depth of 124 feet. From 70 feet (the bottom of old workings) the shaft has been sunk in the lode, which shows fair gold all. through. I do not intend sinking this shaft deeper until I break through with the intermedi- ate level going towards it 40 feet above the main level. This gives us over 110 feet of backs still to work in these stopes.
Bukit Malacca.-A boiler and steam pump have been fixed at this shaft and sinking was resumed this morning.
Western Lode.--Stoping is being carried on as usual. I find as we rise in the stopes that the gold bearing formation extends much further south than I expected, ¡ giving a much larger