September 24, 1896.]
CONSULTING COMMITTEE.
Since the last general meeting Mr. Shewan has resigned his seat, and Mr. Tomes now fills the Vacancy. The Committee now consists of Messrs. D. R. Sassoon, Hon. J. J. Bell-Irving, A. Ross, and C. A. Tomes.
In terms of the Articles of Association all these gentlemen retire, but, being eligible, offer themselves for re-election.
AUDITORS.
The present accounts have been audited by Messrs. J. H. Cox and W. H. Gaskell, who retire, but offer themselves for re-election.
DOUGLAS "LAPRAIK & CO.,
General Managers.
BALANCE SHEET FOR THE YEAR ended 30th June, 1896. ASSETS.
$ c.
Value of the Co.'s steamers Hai-
C.
tan, Hailong, Namoa,
Thales, Formose, and Hai- 3 9212824 ...
881,981.22
Value of buoys and moorings at Swatow, Amoy, Tamsui, and Hongkong, steam launch and sundry spare gear .....................
Loans on mortgage
The Hongkong and Shanghai Banking Corporation (current socount)
9,018,79
16,884.47
The Hongkong and Shanghai Banking Corporation (deposit and interest account)
317,826.66
Freights due 30th June, 1896
Sundry accts, receivable from agencies, &c. Late Amoy Agents...........
Cash on hand
LIABILITIES.
Capital account:-2,000 shares at $50.
- Reserve fund
Underwriting account of the Company
Bundry sccounts payable.
Unpaid dividends
Suspense account (late Amoy Agents)
Unpaid bonus (account 1895)
Profit and loss account 30th
June, 1895, brought forward. 40,593.70
Balance on 30th June, 1896
214,733.39
PROFIT AND LOS ACCOUNT FOR THE
30TH JUNE, 1896.
C
891,000.01 37,000.00
334,711.13 64,542.77 60,274.89
15,197.02 272.24
|
CHINA OVERLAND TRADE REPORT.
237-
gainers, for (as I told you at a private meeting is also in about 400 feet from the crosscut some
take over
some weeks ago your mines are now being worked efficiently and economically by the staff of Messrs. John D. Humphreys and Son, who speak most hopefully of success in the near of Messrs. John D. Humphreys and Son to future, and I think, gentlemen, the willingness
the General Management, pay off the existing loan, to take the amount in preference shares, and finance for the working of the Company, until an issue of preference shares (to provide funds which will be necessary) can be made, should satisfy you of the good opinion Mr. Humphreys (now in Australia) must have of your properties. Messrs. John D. Humphreys and Son are fortunate in having secured the services of Messrs. Willmott Senr, and Junr., Mr. Oglethorpe, and the other members of their mining staff, and as your properties and the Olivers Freehold adjoin, they should be well able to work them together to better advantage than separately, and being the employes of John D. Humphreys and Son, I think it only right this firm should have the General Mangement. With these few remarks, gentlemen, I will propose the confir. mation of the first resolution, but before doing so, will be pleased to answer any questions.
There were no questions and the CHAIRMAN moved the confirmation of the resolution ap- pointing Messrs J. D. Humphreys and Son General Managers.
Mr. RUSTOMJEE seconded. Carried.
The CHAIRMAN moved the confirmation of the second resolution concerning the alterations $1,402,997.88 in the Articles of Association.
Mr. Cox seconded. Carried.
$ c. 1,000,000.00
50,000.00 Mr. RUSTOMJEE then suggested that Messrs. 43,020.86 J. D. Humphreys and Son should call a meeting 43,738.91 of shareholders on taking over the General 131.00 Management if asked to do so by the holders of 10,000.00 5,000 shares.
780.00
251,327.09
$1,402,997.86
YEAR ENDED
To remuneration to General Managers for
office expenses, &c., for 12 months. To remuneration to Consulting Committee for
12 months
To auditors' fees
To exchange account
To charges account
To balance
By balance of profit and loss account 30th
June, 1895..
C.
$
10,000.00
2,000.00
600.00 1,375.42 237.48 255,327.09
c.
The CHAIRMAN said Mr. Rustomjee was really out of order, as he should have brought up the question at the first meeting, this being simply the confirmatory meeting. This was the first he (the Chairman) had heard of the question.
Some conversation ensued between Mr. Ewens and Mr. Buck and it was eventually agreed to accept Mr. Rustomjee's suggestion.
The CHAIRMAN-That concludes the business of the meeting, gentlemen. I thank you for your attendance.
RAUB.
The Mining Manager's report for the four $269,589.99 weeks ending the 3rd September is as follows
Raub Hole, No. 2 Shaft. This section still $
continues to look very well. In the intermedi- 40,593.70 By profit on running the Co.'s steamers to date 201,482.12
ate drives going south from the winze, we have By profit on coals supplied to steamers....
now driven about 100 feet through the gold- 4,981.89 By profit on interest account
21,380.56 bearing chute of ore, but the end of the drive has 1,101.72. just passed through it into formation only. The ore chute is equal both in extent and value to $269,539.99 any part of it we have previously worked, and I
By profit on mortgages account
THE NEW BALMORAL GULD
MINING CO., LIMITED.
At poon on the 21st September an extraordin- ary general meeting of the shareholders in the New Balmoral Gold Mining Company, Limited, was held at the Company's office. Mr. G. R. Stevens presided and there were also present Messrs. G. Ewens, Hart Buck (Consulting Com- mittee), W. H. Potts (Secretary), J. H. Cox, G. L. Tomlin, W. B. Polishwalla, E. Jones Hughes, H Humphreys, and S. Rustomjee.
The SECRETARY read the notice calling the meeting
*The CHAIRMAN-Gentlemen, before proceed ing with the business of the meeting, I will briefly put before you our present position. By telegram received from the mines, the ort of which has already been given you gh the newspapers, we feel assured the our properties (together with those of livers Freehold Mines Company) to the tralian Company of London will and are daily waiting a tele- ndon confirming this. In the think shareholders will be the
see no reason why it should not extend down for hundreds of feet. The stopes being worked over the back of this level are looking very well, the lode being from one to three feet wide, and all showing fair gold. There is now a good ex- tent of ground to work over this level.
The No. 3 or 220 feet Level. This is now in 209 feet from the orossout. In the face of the drive the lode is from 12 to 15 inches wide, and looks more promising for gold than it has yet done. Although no gold can be seen, I don't think we shall be long before we get into it. Altogether this section looks more pro- mising than it has done for a long time.
the leading stope coming over the bulk of, this level the lode will average 14 to 15 feet wide; gold can be seen all through the ore. The whole of the stuff from these drives ing. No work is being done in any of the and stopes is being sent to the mill for crush-
other stopes, as we cannot crush the stuff. In the No. 2 level we have now taken down the lode the full width in both ends. In the north. end the lode is 6 feet wide in the back and 12 to 13 feet wide in the bottom of the drive. The lode is solid clean quartz, and carries fair gold. all through, and is well defined between clean slate walls. South in this end the lode is of a uniform thickness of 13 feet, about 4 feet on the footwall is a mixture of slate quartz and diorite; the remainder is solid quartz in which fair gold can be seen. All the ore except the 4 feet on the footwall side of the lode in the south drive has been sent to the mill and crushed. The total distance driven is 42 feet. These drives, No. 1 level drives, and leading stopes are furnishing all the crushing stuff required from this section.
Bukit Malacca.-This shaft is now down 125 ft. only; slow progress is being made with the sinking owing to the heavy water we have to contend with. It takes the two 8-in. pumps all they can do to keep it out. This makes the work slow and expensive. It is quite evident if this ground is to be worked in the wet weather, much heavier pumps than any at Raub will be required. The ground in the bottom of the shaft is good blasting slate. Were it not for the heavy water, good progress would be made in sinking.
Western Lode.-There is no change to report from this section. Work is proceeding as usual with one stage, and the usual quantity of crushing stuff has been sent from here to the mill. The stopes are maintaining more than their usual size. There will be a much larger quantity of crushing stuff got from these stopes than I estimated there would be.
Battery This has been running full time except at hours referred to in last report. On Monday last, 31st ult., a general clean up fór the eight weeks ending the above date took place. 2,030 tons crushed yielded 1,176 ozs. 17 dwts. This is an improvement of 167 ozs. 17 dwts. over the former clean up, with a considerably less tonnage crushed, which is owing to the much harder nature the rock orushed. The improved yield is en- tirely due to the higher grade of ore crushed from the Raub Hole. Crushing was resumed at 10 p.m., and has continued steadily since. The weather continues very hot and dry, and the water supply in the dam is very low. Several times during the past three months we have been on the eve of stopping the mill for want of water when fortunately a small shower has given us sufficient to continue crushing. The rivers are all very low, and we find a difficulty in get- ting up supplies.
WM. BIBBY.
HONGKONG GOLF CLUB.
Commodore Boyes was entertained at dinner on Wednesday evening last by about 30- members of the Golf Club. Captain Rumsey, the Captain of the Club, who occupied the chair, in proposing the health of the guest of the evening, referred in graceful terms to the in- terest the Commodore has always taken in golf and the benefit that the Club had derived from his two years' Captaincy. The ex-Captain, or he would say the "XX Captain," had seen the Club grow up and flourish after the style of the green bay tree, and it was owing in a very great measure to his keenness and geniality- that the Club was in such a good way. The \ toast was drunk amidst great enthusiasm, with musical honours and three times three
Bukit Koman. In this section prospects still continue to look very well. In the No. I level going north, the lode is about 8 feet wide of crushing stuff. The lode looks solid, and the ore The Commodore on rising to respond was more promising than it has done for some time. received with such an enthusiastic demonstration We are now across the swamp and under the that it was some time before he could make hills at Bukit Jalis Ketchil. expect, as we get himself heard. He reviewed the life of the further into this under the old native workings, Club, which he said resembled a baby when he that the lode will improve. The face of this joined it and now when he was leaving the drive is now in something over 400 feet from colony he found it a well grown boy the crosscut. In the south level the lode in grand game like golf, he s
- said, would never the face of the drive is 8 feet wide, solid and well-languish, and the probable
was that defined between clean slate walls. Fair gold can before long, the number of
ra woulda be seen the full width of the drive. This drive lagely increase.