V
ONE
the simm
the 31st buy
during the autum
our needs for the ear. With regard er I am pleased to Bay nts have been made under which efineries will obtain an ample supply in fature, thus saving the expense the reservoir in the Soukumpao to in the last two reports. Con- pects for the present year, I can
the many fluctuations to which rkets are liable, speak at all definitely, may say that it is estimated the results of the working for the first two months of 1897 have been moderately satisfactory. Before moving the adoption of the report, I shall be pleased to answer any questions.
Valley
cernin
not.
No questions were asked, and the CHAIRMAN proposed the adoption of the report and passing
the accounts.
Mr. G. M. BAIN—Mr. Chairman and gentle men have great pleasure in seconding that proposition. We all know that the report is, as it states, on the whole satisfactory, and after satisfactory remarks made by the Chairman, have great pleasure in seconding the adoption of the report and passing of the accounts as
presented.
Carried
The CHAIRMAN said the next business was the election of the Consulting Committee. Mr. David Gabbay, Mr. Sassoon's successor, was willing to serve on the Committee if elected.
Mr. R. C. WILCOX proposed the re-election of Hon. E. R. Belilios, Messrs. F. A. Gomes, St. C. Michaelsen, C, 8. Sharp, and the election of Mr. D. Gubbay to the Consulting Com- mittee
Mr. STOKES Seconded. Carried.
f
Mr. GEORG proposed the re-election of Messrs. T. Arnold and F. Henderson as auditors for the
suing year.
Mr. HO TUNG seconded. Carried
The CHAIRMAN That concludes the business the meeting, gentlemen. Dividend warrants will be issued on Monday.
LUZON SUGAR REFINING CO., LIMITED
The fifteenth ordinary annual meeting of the Luzon Sugar Refining Company, Limited,
held on Saturday at the offices of the General Managers, Messrs. Jardine, Matheson and Co. Hon. J J Bell-Irving presided and Messrs D. Gillies and there were also present. J. H. Lewis (Consulting Committee), J. Barton (Secretary), A. P. MacEwen, J. H. Coz, G. C. Cox G H Potts, K. MoK. Ross, D. K. Sliman, Ho Fook, Ho Tung, A. C. Coutts, and J. R. Michael
The SECRETARY read the notice calling the MEHAN—Gentlemen, I propose with as read.
Jas
the
as we
profitable eneral expectation improvement of the ich had then begün. proved one great the trade throughout the until the that
figh
place
rks at Malabon, ulouslye observed the
on
the
no damage has been done company The enforced finery during the last three of the year of course told as a certain amount of run salaries, wages,&c., must incurred. the works are silent. I may mention tha greater part of the stock of refined suga hand when the works were stopped in Septem ber has since been sold, and the refinery started working again at the end of last month I trust that circumstances will allow of work being continued, but the state of affairs in Manila and the uncertainty, which exists as to the course of prices in Europe render immediate future somewhat doubtful These views which I have just expressed as to the outlook for the present year are also shared by the Manila agents, who recently wrote that they hoped circumstances may enable them to make the present year a good one for the refinery, though at the moment it did not appear probable. The figures in the report I think do not call for reference, but if any share- holder should desire any information regarding these beyond what is stated in the report I shall be pleased to give it. I conclude, gentle men, by expressing regret that we have not a more cheerful report to bring before you, but from what I have stated I trust you will realize the difficulties the Company had to contend against during the year. Before moving the adoption of the report I will be pleased to answer any questions shareholders may ask.
No questions were asked and the CHAIRMAN moved the adoption of the report,
Mr. J. H. Cox seconded: Carried.
Mr. Ports proposed the re-election of Messrs. D. Gillies and J. H. Lewis as Consulting Com- mittee.
Mr. J. R. MICHAEL seconded. Carried.
Mr. G. C. Cox proposed the re-election of Mr. Thomas Arnold as auditor of the Company for the ensuing year.
Mr. Hó TUNG seconded. Carried.
The CHAIRMAN-That is all the business, gentlemen.
Ore
Angu
tinuonaly duri
hig
of ore from the mill and 400 tons old melted gold
I nee here since September. Caloining Worl treating 85 tons ozs. 6 dwts.
Cyanide on the 16th
of concent
of tailings, yielding valued at 16s. 21d.
day
ounce.
526.10 110
low
ran full
This is very low, and in the result of the zino shavings having been rubbed too. shavi
Guban
rogress has been bstan sinking the shaft here, notw the influx of water has bee It has now reached a depth of substantially timbered. The roa river has been completed, as has godown there.
General 1. A deal of work coming under this heard has been done.
The catchment area of the main dam has been ascertained and pla you. The storage capac
also been seen to and the necessary taken to find out to what height
without wall could be carrie water into other channels, and data sent you,
Labour The supply of this has again been fairly good.
Health This has been fairly good also. Rainfall. The total rainfall for this month is 107 inches.
MAJOR BROTHERS LIMITED.
The following
THE PUNJOM MINING COMPANY, shareholders rät
LIMITED.
The Secretary of the Punjom Mining Com- pany, Limited, advises us that he has received the following progress report on the work carried on at Punjom during the month of February-
Mining-All work coming under this head has received the usual attention and fair pro- gress made.
presented to the
ual Offices
meeting held at the Compar Hankow Road on the 24th March The Directors beg to submit holders the duly andited months of the Company 31st December, 1896.
an
are glad that the busi has left a profit on the
their anticipations ition of the Company have in
fed A comparis with those of the
10008-
August Shaft, 200 ft. Level.-A kiln of 35 tons of ore from the stope on Gillies' reef has been calcined and crushed, and as the result is very poor (under 5 dwts) work there has been TH. discontinued for the present. The stopes on the ore found to the west of the New Shaft continue to look very encouraging, and
the last few days some very fair ore has
网
met with The supply from this point is little, however, and will be so till we can get the ground opened up and a larger number hands employed there. The stopes on the East and West and North and South
૨૧
given their usual quantity of ore for the mill but again the grade has been ver poort indeed
We have commenced the dam surface and other
pre
atory
Angust sha
Awithingt inex
Intermediate
has
s givensin
loss for 1894 was
1888
91 for 1895, while this y TL. 7.212.26 making
Acid Worka 8.
the
tons ended
hole
tes which