July 29, 1899.
THE HONGKONG, CANTON AND
|V||MACAO||STFAM-BOAT 00,
LIMITED.
The following is the report of the Board of Directors to the Lordinary half-yearly meeting of shareholders to be held at the office of the Company on Monday, 31st July, at noon :-
?
The Directors beg to submit to the share holders the report and statement of accounts for the balf-year ending 30th June Inst.
CHINA OVERLAND TRADE REPORT.
31st Dec, 1898.
Cr.
By amount brought forward from last account: 30th Juno, 1899
By net earnings of steainers
By interest on investments
By transfer fees...............
7,989.97
AWAH..
No. 3 Cutting —This was exten become an adit drive, 25 feet mal 133,364.61
83,958.79 length of 114 feet.
195.00
$175,500.37
DEPRECIATION AND INSURANCE Fund
Dr
$
600,000.00
Cr.
8
30th June, 1899. l'o balance
0
No lode has been out therein black dyke like formation carrying was passed throngli, that may, tis lead to something of value.
91
Surface prospecting was continued here and found little pockets and patches of payable or but nothing, as yet, that shows signs of any
II 800,003 00 | permanency.
30th June, 1899.
EQUALIZATION OF DIVIDEND FUND. Dr.
30th June, 1899 To balance
31st Deo. 1889. By amount at orolit...
After paying running expenses, salaries. By amount at credit premis of insurance, repairs and all other out- goings, there remains, including $7,989.97 brought forward from last account, the sum of $150,648.63 at credit of profit and loss account. From this amount the directors recommend that a dividend for the half-year of 8 per cent. on capital, or $86,000, be paid to shareholders. and that the balance of $54,648.66 be carried forward to new account, thus making ample provision for the outlay referred to below.
The steamers earnings compare favourably with those of the corresponding six mouths of any previous year.
The bustomary repairs have been effected during the half-year, and orders have been given for a pair of new boilers and a orank shaft for the Rowan which will cost about $35,000).
The Honourable J. J. Bell-Irving and Mr. C. Beurmann resigned their seats at the Board apon leaving the Colony, and the Directors have nominated the Honourable J. J. Keswick and Mr. E. Goetz to fill the vacancies, subject to confirmation by the Shareholders at this Meeting. In accordance with the Articles of Association the Honourable J. J. Keswick and Mr. A. Gomes retire from the Board of Direction by rotation, and, being eligible, offer themselves for re-election.
The retiring Aultors, Messrs. A. O'D. Gourdin and F. Henderson, also offer them
Belves for re-election.
E. R. BELILIOS, Chairman. Hongkong, 22nd July, 1899,
Both June, 1899.
A 29ETS.
Value of 4 steamers and §ths of Fatshan Value of 2 steam launches
Value of wha ves, halks, moorings, &o. .
Value of properties at Wuchow & Kongkun.
Value of lighters Sun Lee and WoLee
Value of shares in public companies
Value of coal, stores, and spare gear
Valup of furniture
Value of Chinese bonds.
Property foreclosed........
Loans on mortgage
Fixed deposit with the Hongkong & Shang-
hai Banking Corporation
Cash with the Hongkong & Shanghai Rank-
ing Corporation
Premium on insurance policies unexpired
Interest accrued to date...
Instalments paid account new tow boats and lighters, and dew stern wheel steamers for West River trade
Sundry dobtors.}
80th June, 1899,
LIABILITIES
Amounts of capital, 30,000 shares of $15
each, fully paid up
Amount of refund of capital of $5 per share
on 10 shares unpaid
Amount at credit of depreciation and Insur-
auce fund.
0.
771,837.50 47,500.00
+
29,77 .72
8,315.27 13,500.00 12,#51.27 750,00 328,855.00 1,034.48
4, 60.00
613,500.00
22,7 9.52
108,858.59 9,225.4: 957.68
61,500.91 7,7-9.67
$2,042,:02.02
0.
1,200,000.00
50.00
600,000.00
Amount at credit of equalization of dividend
food
Amount at credit of investment fluctuation
account
Unclaimed dividends
Hongkong wharf special account, àmount received from Government to be expended on new wharf
Sundry creditors
Amount at credit of profit and loss account
PROFIT AND Loss Account. Dr.
80th June, 1899. To amount paid for repairs to steamers To directors and anditors' fees To balance to be appropriated, viz.
Dividend at 8 per cent. on
$1,200,000
To be carried to new account
9,000.00
34,138.55 12,098.80
Cr.
$
9,000.00
*
Q.
9,000.00
PUNJOM MINING CO., LIMITED.
GUBAUM MAZREDE MOISE,
A little further prospecting was done slóng the line of reef here but nothing of any import;, ance located.
The principal shaft and crossent therefrom: that were sunk and driven some years ago, were emptied of water and cleaned out, t
The reef had been passed through in the cross- out, but no development work was done on it
The following is the Manager's report for there. It is well defined, about 18 inches think,
June:-
TANGKONG,
Adit Levelk.--Some ore was miued from. these levels and milled, proving to be low grade.
Level No. 1 (50 foot level). Crosscut No. 1.— Driven 24 feet, making it a total length of 105 feet; across the course of Lode No. 2. This Crosscut continued in what appears to be lode matter, varying in character, and latterly of very low grade,
North drive from Crosscnt No. 1.-Driven This 28 feet making a total length of 32 feet was continued bearing easterly, through country rock, to drive on Lode No. 1. to facilitate the transport of dre from Lode No 2 to the shaft.
South Drive from Crosscut No. 1.-Driven 27 feet, making a total length of 87 feet. This was driven 2 feet in April instead of 23 feet as stated in that report. It was continued on the de but, turned westerly with a view of cutting the foot wall.
The country is so broken up here that it is impossible to tell with certainty whether this drive has cut out of the lode or not, but, in any etout, the rock it was driving throngh dar. ing the mouth is of little or no value.
Crosscut No. 2.-Westerly.--Driven 24 feet making a total length of 40 feet. Some good ore was developed in this cresscut but it was passed through, and broken up conutry come into of much the same general character as was encountered in crossent No. 1, and South drive, (bearing westerly), from crosscut No. 1,
From these developments it appears the hang- ing wall of lode No. 3 is poorly defined at this levol, so far as they go, and bence the extent of of the gord ore body here is the more difficult to estimate.!
Level No. 2. (109) foot level.) West drive. Driven 7 feet making a total length of 61 feet 6 inches. It contiuned to show a fairly well defined lodejof low grade ore 2 feet to 4 feet in ti.ickness. Work was discontinued at this point for the present to enable better progress being made in developing the lode cut. iu crosscut No. 1.
Crosscnt No. 1.-Driven 9 feet, making a total length of 17 féet, when it was stopped to the better drive on the lode cut therein. which where cut is abont three feet thick and having an average assay value of 1 ounce 1 dwt. 10 grs. fine gold per tou, The.ore is heavily mine- ralized and most of the values are in sulphrets which will be saved as concentrates.
The probabilities are that this lode is a con- finuation of Lode No 2, had in the 50 foot level, judging from its character and dip, but becaus of the country beng so broken up above it is 22,719.52 particularly difficult to estimate with certainty. South Drive froin crosscut No. 1.-This was started on the Lode cut in this this crosscut and driven 19 feet. The lode showed well defined all the way therein and some 3 feet to 4 feet thick, but not of so good à grade as where cut first at this level.
13,648.49 150,648.66
$2,042,202.02
$96,000.00 54,648.66
22,107.71 $2,570.00
160,648.66
$175,508.37
North drive from Crosscut No. 1.-This was started on the lode cut in this crosscut and driven 161 feet. The lode was well defined all the way therein but p’neked down to a little less than a foot in thickness and of somewhat lower ada th in whrao cut fast at this leve! ; It was however opening ont wider again and promises to improve in grade.
but of poor looking quartz and very low grade at this point.
North Drive-This was started on the lode and driven 18 feet thereon. No improvement was shown therein.
South Drive. This was started on the lode and driven 27 feet thereon. The ore improved a little but is not yet near-payable. This drive will come in under the old main cutting where good gold is reported to have been got in the past, in between 100 feet and 200 feet, and where it is hoped we will find a pay ore chute.
JALIB.
All work was stopped here and the pump and everything of value taken out of the workings, which have filled with water.
GENERAL, I:ROSPECTING. This and prospecting development work were continued, principally at the Bukit Sarong section of our territory, but nothing of value or much promise so far found.
REDUCTION WORKS.
The equivalent of 16 stamps were run on Headings and 6 stamps and concentrator on Tankong ore treating and yielding prod not as
follows:-
Concent Amal But re
lion Tons:
Ore.
Houdings
Tankong
Tons.
2,4:12
445
gam
OZAL
233.80
oss. (dry wt.) 88.60
}
156.15.
21.28 18
121211
Total:. 2,877
|
289.95 109.88.
The Taukong ore treated was principally from the adit levels, a little coming from deve lopment work at Level No. 1.
1
CYANIDE WORKS.
These were cleaned up during the month. covering the treatment of 304 tons of tailings, which yielded, 68. 13 ozs. bullion, worth £1 28 51d per ounce,
GENERAL. -
Machinery. The erection. of a boiler and winding engine at Guban was completed.
A second boiler was put up at "Tanko'ng."/i.
· Rainfall --This was but 4.36 inches for th month.
Health. There was Considerable sicknes among Asiatics.
THE GREAT EASTERN AND CALE- DONIAN GOLD MINING CO-
LIMITED.
The following report has been received from the Maunger at the mines
I have the honour to report apon the follow- ing work done
2
a new
ZULU MINE The south drive is now in 68 feet, formation showing in the face. Daring ten feet the old formation, which had gradually become poor," died out.
'but altogether. stopping this work for the present take out a trial orushing from the shaft, as this work would be the drive. After this trial lot i instructions with regard to this, ground is hard. **
HKISE AND SHINE MIN This is the softest ground so far and as the foul air bas at presen we have started the work on