all the way, averaging 40 in. wide and 7 dwt, in value. A second winze (6) coift. Siis 6jf. down, with a lode averaging 48 in and aws. And a third winze (c) at 150 ft. N. of the shaft had reached 57 ft. on a lode of 48 in, and 2dwt. when it was suspended till the shaft should drain it; this has now taken place, and sinking ia resumed. It will thus be seen not only that most vigorous levelopment work is proceeding at the lowest depth reached by any shaft now working on the property, but that strong and payable stone is being got ready for stuping, though it will probably be six to eight months before any need can arise for drawing mill supplies from hero.
The No. 3 Level is at 240 ft.—å crosscut for 20 ft. W. from the shaft struck the main lode, and the level was then carried on this 500 ft. S.-{ For almost 200 ft. the load was well defined, ¦ 5ft, wide, and worth 5 dw, but it split at (1) The footwall branch was further driven on fur 3 af to (e), where it ceases, having averaged less than 2 dui. The hanging wall branch was driven on for about zolt, from (d), and i en abandoned as worthless. Later, at (/), it was again reached by a crosscut of 15ft, and was driven on to (g), averaging for the bust roo ft., 3 it. wide and 4 dwt, value, but afterwards fad ing in size and value, till it disappeared entirely Cumming back 40 ft, a crosscut (4), put in for 65 ft. E, to make sure nothing had been missed, cut a sean 12 in. wide, but very poor, and this was followed both ways until it died out.
Northwards the drive was extended 350 ft. to (f) having carried the lude up to about 470 ft, measuring 4 to 5ft, tuck and whith about 4 dwt. The lade then cuc oui, and 80 ft, of sub- seqmt driving has been fruitless.
Criscuts were put in both E. and W., at the end of the lode. The latter found nothing. The former discovered the East branch () which at this point, was reported to be nearly with 30z; bat no sample since has given 3. w., and after about 100 ft. of fruitless driving it has been stopped,
THE HONGKONG TELEGRAPH, SATURDAY, JULY 11, 1903.
true lode. After 40 ft. this was considered as proved
The No. 2 Level is at 160 ft. About 40 ft. of crosscutting E. from the shaft sufficed to striks the "slide and at the same time the point of the lode (d). The lode has been followed S. for 480 ft. It was fairly continuous for the first 250 ft, averaging about 21 ft. wide, and yielding a good stone. For the next 150 ft. it narrowed considerably and became poor-rzin, to 15iu. wide and from z dwt, to nil the stone having to be picked before sending to the mill. After a further do ft. of barren lode the work has been stopped.
A Winze (2) was sunk at zoo ft. S. of the shaft, to connect with the 260 it. level for air and transport. This cut the lode, about 2 ft. wide, assaying 15 dwt. At 40 fl. down, the shoot was lost, and the smail leader which we continued to follow to the next level only gave
dwt. ur so occasionally.
I
It is a very iniportant fact that the gold in this fade is confined within a “shoot,” of stone' ending at 250 ft. 5. of the shaft on this level, and trending towards the "side," ie, novih wards, as it descends, so that it must be cut off in depth.
Above this level all ore has been long since removed, except a small wedge at (), which is of very good grade, and is now being taken
From this level, at 60 ft. S., a winze (g), has been sunk to the next level, io ft. off-the lode, thus necessitating crosscut to pick it up, ané at 26 fi. down, and the other at 6z fi. The lode in these is now being stoped and averages about 2 ft. and 10 dwt.
out
The level has been driven N. for $50 ft. to (4), on the true course, as indicated by a seam of rotten slate; but, there being no lode matter, it is now stopped.
from the shait, a crosscut E. has met the E. branch (1) at 50 ft. It has been an ill-defined and worthless body, and after 50 ft, of fruitless work. has been abandoned.
I may be mentioned in passing, that the This same lode has again been struck in a "New Main Shaft," commenced by a former | diagonal crosscut, on the same level, at a point management, but scathingly condemned and (4), about 120 h. further N., and driven on to stopped by the visiting Engineers who reported(), 300 ft. N. of the shaft. There is lode or in igst, was destined only to develop this lode-matter all the way, but it is universally proved worthless ground.
worthless.
Stoping in the back of this level is in progress at various points between where the split.oc- curred and 470ft. N. The whole of the ground is being taken out up to the next level. For 150 ft. 5. of (/) on the hanging wall branch we are also stoping.
The significance of this is intensified by the Let that the Special Reports, published nearly tw years ago, virtually condeained this pro perty on the prospects of this level. On the advice then given, it was practically abandoned, and a special "intermediate "level was driven al 200, to take out the stone overhead. At this moment there is no less than 80 ft. in length of lode on this level, from the backs of which we are sloping out just as good average ure as any now being produced-in other wards, the views expressed in the Special Reports of March and May, 1901, were just as wide of the mark in one direction as the esti mated 300,000 tons of reserves in sight," qu led by the Annual Report of Feb., 1900, was wrong in the other; and the driving of the 200 ft. intermediate. level was a needless waste of money.
West of the shaft, on the same level, a cross- cut has been driven 340 fì, to (m), without discovering anything.
The No. 1 Level is at too ft. This has been driven S. for 495 ft. from the Old Engine shaft te (*). For about 350 ft. of this distance it has been stoped out overhead most com- pletely. Beyond that, there is nothing to stope. With the exception of making No. 2 Air Shaft secure for ventilation and as a timber pass, this level has been abandoned, rails have been pulled out, and the ground has been allowed to fall in. Should there have existed any new make of stone beyond the face (#), it would have been reached by No. z Level, which is ahead of No. 1, and would meet the "shoot" at an earlier point.
|
Average milling duty per stamp
(since alterations).... Average milling cost per ton-
Steam Mill
Do.
do
-Electric Mill (before alterations)........ Average milling cost per con-- Electric Mill (since alterations)
MILLING.
3.157
$3.00
$2.25
*S1.14
3
battery storied. The earlier portions contain |. The directors have the pleasure to prestat much inergury, and stibnite occurs among the sulphides, both being drawbacks to cyanidation. The first run of the cyanide plant brought itself to an end by the liquors becoming so foul that neither dissolution nor precipitation could be carried on any longer; and, that was the situation at the date of my arrival. After some experiments, the method of treatment was radically altered, with greatly improved results, the per cental actual recovery being increased from 42 in 62 though the material cartled 6 | dwt periton less gold. Moreover, the improve ment is not all shown in the above figures, no account having been taken of the gold contain | ed in the short zine which was returned to the boxes in collect more.
The more recent portion of the blanketings, not yet having undergone oxidation to any extent, will probably fail to be as amenable in ordinary cyanide treatment. It is intended la experiment further with them in other direct ions, on arrival of a competent chemist now on his way.
During almost the whole of the first half of the year, milling operations were cried on beth in the old 20-liend steam battery at Raub and in the new head electrically driven battery a: Bukit Koman. From investigations - made soon after my arrival (July), however, I was led to advise discontinuance of the former, with its attendant extra cost, and 1 intimated that the 40-head mill could be made to do practically as much work as the whole 60-head had previously done, with great contingent advantages in control, cost, and recovery." It | will be seen from the subjoined table that this pranuse has been substantially redeemed.
For the convenience of one of your Sub sidiary Companies the Eastern Lode Syndi At the same time attention will be given to cate-the steam mill has kept going on their the buddlings-now amounting to between shut down and dismantled. A considerable thing like $40,000.00 in value. And, besides stone till all had been crushed; it was then 1.500 and 1.000 tons, and representing some yield of gold (nearly 400 oz) was obtained these, there are a few hundred tons of the from the old plates, and these were finally heaviest mailings at the old Raub mill which melted down and sold for about £ico.. The are likely to repay.treatment in capable hands. battery itself, which was quite worn out and But it needs litils argument to show that the past repair as a gold mill, was ultimately also separation of these concentrates for further sold at a very fair price for treating tin tail ngs. treatment (representing less than † dwt, per Even to give it away would have been a highlyton milled, and only about 61% of the total value profitable transaction.
contained in the original ore) and neglecting the tailings (which account for i dwt, of loss and constitute 20% of the total value) is pro- ceeding an entirely wrong lines, and renewed efforts under better auspices will be made to encompass a satisfactory scheme for dealing with the future tailings as produced, dispensing with concentration, and employing practically Do labour.
Unfortunately the Raub Mill bad scarcely been pur out of use when a breakdown at the Power Station also stopped the Koman Mill, and for $5 days no ore was crushed, Still the output (31,777 tous) does not compare bad with the previous year (38 224 tons), when both batteries were running full time.
The milling records kept until June last have been meagre in the extreme, and they afford no real information whatever.
When we resumed crushing after repairing the Power Station it was under fresh supervi sion, and proper accounts became possible.
The subjoined figures for the closing period of the year covering five lunar months (less ane week), may be interesting for comparison with what is done at other mines:-
Tons milled, 1,572, being an average of 3,378 tons per lunar month.
Average time lost, including plate-dressing and clean-ups, 2.12 days per lunar month.
Average duty per stamp per 24 hours, 3,175
tons.
Of the Amalgam Recovered→→
27.7
28.0
9.8
Boxes, 418 per cent. Wells; 3.95
ו
33.6 per cent. bas come from the boxes,
wells. plates. pans The Yields of Sponge Gold from Amalgam have been-
Plates, 30.5 per cent, Taps, 430 Average of total, 38.7 per cent. In smelting the sponge gold, the average loss has been 3%, the melted gold amounting to 97%, and being in the proportion of 36.6% of the amalgam. In this connection, it may be A curiosity in mining engineering is a winze mentioned, that in an instance has the monthly (No. 1 N.) which is sunk from this level for average been lower than 34 32% since the bal- 6aft, un no lode whatever, and comes down attery, has come under the present control least 551. away from either level below-the result of mining without a plan.
At the N. end() of this level, at 220 ft. N. of the Old Engine shaft, the influences of the slide are very marked, the lade having split up in all directions, and finally pinched out both in length and in the backs.
The No. 2 Level at. 140 ft. is reached by a crosscut of 45 it. W. from the shaft. The lode was driven on for 1,400 ft. S. and 1,500 ft. N., connecting with the South and North Komana shafts respectively. All ground, both S. and N., except a section which is reached by the tunnel (A), has been long since taken out wher- ever it was payable, only apparently worthless ground being lett.
whereas previously it never exceeded 13 63% and the average has been 31.23% falling in one instance to 23.38%. This discrepancy of over 5 points (or ab, ut 15%) in the recovery of bullion from amalgam does not readily admit of explanation,
A
|
PLANT AND MACHINERY..
The past year has seen a very heavy expen- diture on plant and machinery.
At Koman, the main shaft had to be re-sunk and re-timbered for over 70 ft. from the surface, due to its having been badly located in the first places-on the edge of sleep ground which has slid downwards, carrying the shaft with it. Advantage was taken to erect a new ore bin alongside the headgear, saving fully 80% of the cost of transport to the mill. Greater steansing capacity had to be provided for the pumps, and these latter had to be re-fixed.
Hitam Pumping Engine being erected on a waste heap, has sunk out of position to the extreme limit of its ability to continus work- ing, and new steam pumps have bad to be provided in anticipation of its refusing duty at any moment. This has also meant doubling the boilers.
The l'umping Engine at South Komen broke its crank, and temporarily necessitated adapt- ing bailing tanks to the wading engine.
One of the locomotive engines has been fitted with a new boiler.
Considerable replacement of worn-out pul- leys, cams, stems, tappets, &r, has had to be prepared for the battery, and the need of a new. water service tank has been forced on us by the bad construction of the old one.
The concentration of work at Koman has called for a transference and reorganisation of the fitting stops, electric power replacing coolies on the lathes, shaping machines, grindstones, forge bellows, &c.
A new dy amite store has been constructed in Koman lill, and electric light has been furnished to it as well as to the shops, shafts, bins, &c.
The Offices and Stores, and most of the European dwelling, have been also removed. to the principal centre of operations.
The fineness of the gold has averaged 914.3. Average recovery by umalgamation has been 5.8 dwt, per lon, being 2.88% of contents
Mercury loss: 553 oz. per ton milled, or 2.15 oz per oz. gold bullion
The destruction of our power plant at Sem- Concentration is effected in two ways-the
pan involved us in very heavy cost for rebuild. strakes, and the less valuable by huddles. more valuable mineral being caught on blanketing the machinery and bouse. Our neighbours, tailings have also compelled us to make ex- 1ensive settling-dams at the head of our pipe linc.
From a point (p), at 115 ft. back from the end, crosscut has been advanced 114ft, and in conjunction with a crosscut E. between (o) and ), has proved that no lode exists behind the slide. On the S. side of the slide and folt. S. of (0), we are taking out a small parcel of ore. A glance at the accompanying longitudinal At 70 ft. 5. from the junction of the tunnel section will show most clearly how the in- with the main lode, this latter has died out. cidence of the slide or cross course at the N, Northwards the drive has been carried 300 ft. end and the pitch of the shant at the S. end in il a portion being a branch vein. At 240ft. combine to restrict the possible mining area in Nun the main lade, old workings were entered, Bukit Hilam te very small limits. All our Le lode has ranged in width from 1. to 5 ft. prospecting work outside these limits has been throughout, and has afforded a quantity of pay-fruitless, and it has been of such a nature as able stone which has been a very useful help practically to preclude the chance of any ore while we have been engaged on deep develop body having been missed. Without some ment work which should have been done years better encouragement than has rewarded us, we are not justified in spending more money here. True, much of what ore we have had has fortunately been good, and has been won at a profit, despite the outlay on boilers and pumps necessitated by the collapse of the Cornish pumping engine, through its hav-milled, or 66% of the value.
ago.
Blanketings amount to 1.053% of the weight of stone milled, and show an average assay 20 68 dwi. per ton, which is equivalent to 218 del per ton milled, or 2,84% of the total value contained in the milling dirt
Buddings aggregate 2.538% of the weight, and assay to 71 dwt., equal to .263 dwt, per tan milled, or 3.76% of the valve. ..
Concentrates thus total 359% of the weight, and give an average assay of 48 dwt per fon
RETURNS.
The total output of gold bullion for the past year has been 11,319 62, equal to a trifle over 6dw:. per ton. This brings the grand total recorded production to 109,102 oz., equivalent this sum, no account is taken of the gold con- to 11.97 dwt. per ton mised and milled. In
ients of about 1,cotons of buddling at Koman, worth about oz. to the ton, nor of a large quantity of old tailings at Raub, which it is
The existence of scattered lode matter and of old workings upon the crown and E. flank of Kuman Hi, in positions precluding their identity with the lode or lodes hitherto worked by us, has.induced us to undertake energetic prospecting in this region, which offers a splendid site for a Main shaft destined to prove probable further life of Hitam mine may be 20.52% of the original value of the stone. From hoped inay be successfully treated at an early
the deeper ground, as must unquestionably be
done sooner or later.
The West tunnel or adit (4) has extended eastwards a distance of 180 ft to (), and is suli advancing. At the same time, a new adit
or tunnel (a), has been driven from the E. side of the bill for a distance of 130 ft. At 170 ft, it Cut a strong healthy-looking lode 3 ft. thick and carying gold, though not yet payable; on this a tutal of go ft, of driving N. and S. has been' There is still some zooft, of ground to be covered between the two advancing tunnels, in which it is more than likely another lode will be found, as this is not sufficiently far to the W, to correspond with the old surface working,
A further piece of work with the same object is the Crosscut (0), on the 140 ft. Jevel, which has been prolonged E, to a total of 170 ft, up to which point it had discovered nothing.*
The "surface prospecting" alluded to in Report for 28th February, 1902, "at about a mile East of the Bukit Koman line of reef," has born resumed. "Some 40 ft. of driving has been done northwards from the outcrop of a body of stone about 18 in. thick, with accompanying lode matter making nearly 4 ft. in all. This seems to be unquestionably identical, with a similar accurrence which has been encountered at least two miles north in the Queensland Raub Co.'s mine. It has been described by Mr. Fisher in both cases as, "a felsitic rock approaching in places a eurile" and further he submits that it "may be a dyke and states that it "shows very clearly powerful igneous alteration of the country," Some further de- velopment is necessary to settle these points conclusively, but at present i regard it rather as a quartz reef than as a dyke. It has given assays up to 2.5 dwt, and is being followed up. At the Queensland Raub end it was rich at the point of contact with the main lode, but deteriorated after a few feet. The "country" bere is no longer slate but sandstone.,
BUKIT HITAM. (See sep rate plan.) The Main Shaft is 290 ft. deep, including a sump or well of 30 ft.
Of Bukit Jellis, which lies.to the north again of N. Bukit Koman, no plan is submitted, work has been done there, and a good few because, notwithstanding that considerable tons of low-grade ore won, the water since 1898 has never been got down below 1go ft. in the shaft, which is said to be 350 fr. deep.
ing been erected on "made" ground. But the Tailings assays have a mean of 1.555 dwt; or 1.498 dwt, per ion milled, and constitute measured by months.
October, 1900 to July, 190s they averaged 2.35 dwt, and from August, 1901 to April, 1902, month's sampling showed tailings assays. over 92 dwt, It is recorded in March, 1902, that s
3 dwt per ton when the mill was run at 100 drops per minute, and that by lowering the speed to 76 drops the assay was reduced to 2 det. Since October, we have been running at about 92, and the assay has averaged less than r dwt, though we have had only one buddie in operation.
Remarks on this Mine in previous Reports are a conundrum. The 1898 Report gave mill," and the 19 o Report announced 12-dwi. "20,000 tons ready to break and send to the stone at the bottom of the 350ft. shaft; yet up till June, tçoz, only a few hundred tons of very poor ore (much of if scruped from the hillside) to unwater the shaft. Here is said to be a had been milled, and no steps had heen taken
mine sunk on to 350 ft, with levels and cross- cuts at 50, 150, 250 and 35oft.. and of which the Special Reports in March and May, 1901, said "it offers great induce. ments,****"the chances of good discoveries are high," *** "seems one of the likeliest places on the property to find a new body of ore," &c, &c, and only tacking a rain. pump. the want of that pump, whi'e the very article to replace the Sin. pump,"-left to drown for
is brought on the property and appropriated to another shaft, a mile away, which has not been
sunk 40ft..
Milling cost, averaged on the last 5 months' figures, are given in detail below:-
Power (90% of total coast of Power Sta-
tion and transmission) Mill Salaries, including Assayer and
Engineer... Labour Breaker
Is
,
Greaters
**
***
Сентя
per Toa.
51.01
25.30
28
11
3.75
Feeders
11
98
Odd (occasional Car
,&c) 145
11
..
6.01
31
$1
"
Blankets ...
'Buddies
***
Assay Office (half)... Maintenance and Stores:
Grand Total
41
dale.
in connection with the lower returns per ton for the past four months, it is interesting to note that out of 26 crushings between 1890 and 1895 there were it that produced less than ro dut. per ion, 7 of these being less than 8 dwt, and oné (of 1,120 tons) less than 4 dwt Our average has not fallen below 5 dwt, and we ate hoping to get another dwt, by-cyanidation.
WORKING COSTS.
In the subjoined table is given, in some de- tail, the working costs for the last 5 months (19 weeks) of the year, calculated out to dollars and dwt per ton, by which it will be seen that an average of about 3 dwt. ballion recovery suffices to cover all working costs, the only items not cluded being cost prices of new plant and machinery properly chargeable to Capital A/c and not to working expenses. This means that a 4 dwt, return is giving us a hand- some margin, and thus my estimate has been more than verified.
the
Apparently it was not custom in the past to 1.65 keep Cast Sheets, and so a monthly comparison 2.03 is not possible. But the Cashbook fijures for months, January to June, 1992, show an ... 7.51
average monthly cost of $45,131,60, which is S equivalent to $14.66 per ton, thus demanding a
recovery of 6f dwt.
At $12 to the this is equivalent to about
rid, per ton. it cannot be considered: When Koman, which is so very much more excessive under the circumstances, automatic important in every way has been properly arrangements being conspiciously absent, and provided for, renewed efforts will be made to im o'sible of introduction owing in faulty de learn the truth about Jellis. Meantime it sign. Men have to be employed to take down remains idle.
the ore on the breaker grizzlies, to shovel it in the battery bins, to rake it into the feed-shoots, &c. &c, no less than 60 being engaged where at most y should suffice. The duty or capacity of each stamp also is only a trifle over. 3 lans per 24 hours, whereas nearly s is accomplished in rodern milling. In fact a great opportunity has been missed for establish ing a record for milling cost-lower than that of any other battery in the world runnping less than a stamps. It must rot be forgotten that the figures given above includelay our employed on cyanide plant.
Slope is the Malay name which has been given to a spot lying to the north of Hitam, Had it been called "Swamp it would be beiter described. It is not a stopa. nor is it a mine, nor even a shaft-for a water-bole doft. deep cannot be dignified by such a term though it will probably make an excellent well in dry-seasons, as it will drain a few acres of morass. Above it has been erected a giant headgear-but with no bir, and no connection with the railway--and alongside are winding and pumping engines, with their foundations below permanent water level. Such a reckless waste of money is not often surpassed.
Bukli Nibong is the beginning of a similar piece of folly, but has not gone so far in the
matter of equipment.
The No. 3 Level is at 260 ft. There was no lode in this abaft at this depth, and a crosscut E. was driven 170 ft. At 140 ft it countered A "slide" or cross-course (a), carrying quartzi this was traversed diagonally for 30 ft, and was quite barren throughout. The main drive.
A Table of Development Work is appended, was then pushed S following the true showing an aggregate of 7,739 ft. If this is Curse of the lode as known in the level somewhat less than the figure for 1971 (8,616 abave. At 8o ft. it passed through the "slide") the work has been of a much more useful (n'ut 5 ft. thick) and then picked up the lode and lasting kind. The total exceeds that of
1900 by 1,650 ft, and that of 1899 by 27200 ft, Average monthly tonnage milled
which, at (8), was 15 in. wide and worth shdyt 1 is now at 216 ft, and carries a lode of vin., and a dete
A1, 140 ft. south of the shaft, a crosscut W, (c) was driven to make sure that we had the
***** Three weeks later it cut a lade about 30 in Athick, canying gold. This cannot be the same as that in (w) and d es not seem importanı jenough to have caused the old workingi j but
little more can be said about it yet,”
(excluding broken months), when both mills were running (March to July)........ *** 3,233 tons.
Do do. Electric Mil only (October to February) Average milling duty per stampin
Steam Millayi
Do.do.. Electric Mill (before alterations),
***
3,307
Autention may be called for a moment to the itemRoyalty." This works out at an average of 62 cents per ton, or as nearly as possible 8% if the total cost. Computed at the same rate on the total output of gold to date, it amounte to considerably more than $200,000!
Obvi ·usly, this question of working costs is of paramount importance. The only valuable ore in a mine is that which is payable, and the inter consideration is largely determined by the cost at which its contents can be won. Amine vie'ding 4 dwt, stone must soon shut down if the cost exceed 4 dwt, while it can be worked and will afford a large aggregate profit if the expenses are only 3 dwt. Even this small margin would mean, on an annual crushing of 40,00 tons, no less than $40,000 to $50,000 yearly. It goes to the root of the whole ques- Sufficient time has not yet elapsed to afford tion in estimating the prospects and life of a mine, and no report can properly be called particulars of life or duty of dishes, dies &c. &c. such which does not deal with this vital point.
Reverting to the concentrates, "It will" be
Yel the Special Report of March and May, seen that about 35 tons. per-mohihs of first quality, worth about 1, oz. per ton, and tons seq ently fall into the error of condemning as 190,, are hoth silent upon it, and the con- per month of soc nd quality, value, are worthless a large portion of the mine, from collected. The latter are being stored until a which we have been for some time drawing profitable way of treating them can be found. The former have to some extent bees subjected
our principal daily needs of milling dirt. pag to cyanidation on more or less experimental
The beefit of low working cos's will be lines, and in all sume 35 tons have been so dealt with, affording results as follows:
CHARGED, Raabus. · EXTRACTION. Assay, Con. As Com Thacratical Actual.
tenta, say-rtents T. dwt. or..dt. De 24% 148 3907 933-4 13/79 90:59 7903526 110.5 47 204 33.54 2003 64 65 33 195.074-80 152 6,18
220491-9755.8$ 115.5
[177-5]
ist run.to
and hun,
May/o
to Jan/oj
A
The material worked on in the stock of· blanketings accumulated since the Koman
brought h me to you very strongly when you are reminded that these mines have produced an-aggregate of 109 toz oz. fram, 181,254 tons, or 1197 dwt, per son; and had working cost, bren kept down to 4 dwt, there would have been a margin of about 291,6c6 sterling for distribution in dividends, I am, Gentlemen, Your obedient servant,
C. G. WARNFORD LOCK,
(F,GLS, BUT, MINUS DIST
General Manager,
11-hive examined the books and accounts oft herewith the balance sheet and profit and luath Raub Australian Gold Mining Company account for the year ending 31st March, 1903, Limited, as kept in Brisbane, for the period of the Singapore accounts incorporated therein twelve months to 31st March, 1903, in, which being closed on the 28th Febr ary,
ato incorporated the Singapore accounts fo During the year a change of management al 28th February, 1993, audited by the Log Raub occurred. The lale mining manager, Auditor at Singapore, whose certificate I he having been offered an appointment in Austra accepted. I certify that, in my opinion, the lia, sendered his resignation. The directors Balance Sheet is a full and fair one, contain were then able to avail themselves of the advice the required particulars properly drawn up, so and assistance of the chairman-Mr. De Burgh as to exhibit a true and correct view of the Persse-who had visited Singapore and was Company's affairs, as shewn by the said books. then in London, in selecting a general manager
T. A. BOND, F.I.A.Q., Auditor. for Raub. As a result, the directors were Brisbane, 26th May, 1903 fortunate in securing the services of. Mr G. C. Warnford Lock, F.G.S., M.I.M.MI, etc., a gentleman of world-wide repute in the mining
CHINA-AUSTRÀLIA CARRIERS. world, and Mr Martin, as mine inunager (in place of Mr. Waters), who had vast experience in South Africa and South America
The annual report on the mines now fur- nished by Mr. Lock, gives an excellent nc- cuunt of the work done during a period of nine. (9) months under which the Mines have been under his able control.
In accordance with the articles of associa Persse, Robert Philp, George Frederick Scott, tion,, all the directors, Messrs. De Burgh mud James Forsyth, and the auditor, T. A. Bond, retire, but are eligible for re-election, and offer themself accordingly.
It will devolve upon the meeting to elent directors and auditor, and to fix the auditor's remuneration,
DE BURGH PERSS",
Chairman.
Brisbane, 26th May, 1993.
BALANCE SHEET FOR YEAR ENDING 31ST MARCH, 1903.
QUEENSLAND COASTAL TRADE
At a meeting of the council of the Brisbine Chamber of Commerce Mr. L. H. Spence in-. troduced the subject of the disability under, which Queensland shippers laboured in trading with Thursday Island. Owing to the heavy port dues, China boats could not take cargo Thursday Island; but Sydney, Melbourne, and front Brisbane to nor hem ports, including other ports outsire Queensland (being foreign ports, China and Japan vessels could there taks cargo, and supply the northern port, to the disadvantage of Brisbane, Townsville, and Cooktown.
Mr. Spence contended that the prolibiting of the car iage of cargo by the China boats pro- tected Sydney merchants, to the detriment of Brisbine, as vessels shipped cargo at Sydney, which would be shipped at Brisbane ifthe autho rities allowed i. He considered that it would be unjust to allow oversen vessels to trade be- tween Brisbane and Townsville, bat Thursday Island lood in an unique position; and as the attitude'f the authorities was one' to 'hamper Thursday Island and Brisbane, and to further Sydney merchants, it would be well for Queens- s. d. land to adopt some fair means of treating her own commercial men. By failing to look at the malter in its true light, they were simply making Sydney the market for Thursday Island in preference to their own merchants.
(Incorporating Singapore Balance Sheet to
28th February, 1903.)
LIABILITIES.
1973.
Capitni
L 5. d. ..200,000.0
8,750 0
Less Uncalled
Cap'tal
Reserve
Sundry Creditors Chartered Bank of
I. A. and C.- Lets Cash Balanceatie Royal Bank of Unpaid Divi- . Queensland Ld.
dends---
Brisbane...... Singapore ...
1903
Mining Property... Machinery
72 4 90 9 6
ASSETS.
L
191,250 0 O 4,873 to 10 772 19 3
3,934 3
387 8 9
162 13 6
£207,380 16 3
Eventually it was agreed that Mr. Spence should draft a motion on the subject, for con- sideration at next meeting.
£100 FINE FÖR SMUGGLING.
A Customs officer while on duty in Sydney Inst month, noticed Ah Say, a sailor, belonging to the steamship Austrahan go ashore from the vessel, which was then in dock. To the officer's eye, Ah Say's outlines looked suspicious, and he stopped and searched him, with the result that he found four tins of opium concealed in his trousers. At the Police Court Ah Say pleaded guilty to a charge of smuggling. The £ s. d. C 5. d.
prosecutor asked the magistrate to inflict a 131,684 17 6 heavy fine as a deterrent. He said this offence of smuggling.. opium was becoming very frequent, and was a great injustice to honest importers of the article. There were at the present moment three of the crew of that vessel in prison for offences of the kind. The mag istrate imposed a fine of £100, in default three months' gaol.
and Plant..............13,350 12 Tools, Implem-
0
ents, and Stores 679 o 0 Railway and Roll-
Fuel
995 ▸
ing Stock........ 2.753 0 Buiklings........ Timber........... 600 D Furniture Raub
38 o
and Singapore.. 309 11 Electric Plant and
Installation..... 36,981 2.3
Value(estimat d)of
Crushing ........ Balance to Credit of Dividend Ac- counts - Bris bane.... Singapore
Cash Current Ac Sundry Debtors...
counts at Raub Profit and Loss
Account
72 4
90 9 6
55:707 $9
$750 a
a
8
162 136 588 7 5
250 12
7,236 19 5
201,380 16 3
THE SILVER QUESTION.
THE MEXICAN SCHEME.
"Signor Limantour, the Mexican Finance Minister, who has just been to New York, is now coming here in connection with his cur- rency scheine, reports the L. & C. Express, There is to be a new Mexican dollar coined. There will be $100,000,000 of this coinage. This dollar wil be made a legal tender for every debt and account collectable in Mexico. At the back of this dollar-guaranteeing it will be a specific gold deposit of $25,000,00 Should from some circumstances shopkeepers or bankers decline to make exchange with buyers on the fixed 50 cent. basis, it has been determined that: "Whenever, for any tenson, a surplus offering of the coinage, shall show effect upon value the Government will enter the market as a buyer (for gold) of whatever volume of coin offers at even the slightest fiac tion below the guaranteed parity. And as there will he $25,000,000. of gold so available, $5,000,000 of the coins (one-half of the total issue) can be thus imm: diately withdrawn from circulation-held ready, of course, for re-utter- ance as normal conditions later demand." The present dollar will be no longer recognised in any legal sense as Mexican money. It will be 593 17 9 put absolutely into classification as
5. d.
PROFIT AND LO59. 1r. 1907-April 1. £ s. d L To Balance.........
958 19 10 1903-Mar. 31. To Directors' and
Auditors' Fees, Salaries and
Charges - Brsi. bane
To Wages and Ex-
penses at Raub, - including Fire Insurance, Cost of Singapore Office and Direc- tors' Fees........ To Tools, Imple
ments and Stores Consumption.... 1549-14 3 To Fuel Consump
tion......... 3448 6 9 To Timber Con-
2,211 6
sumption ............... To Amount Writ
ten Off by Re- valuation of Ma- chinery, Plant, Buildings, Rail- way, Rolling Stock, and Furn- iture
5.718
6
2
To
Depreciation
Furniture (Sing.
apore).
Electric Instal-'
To Depreciation
lation and Plant 1,946 7 6 To Up-keep of
Machinery 1,580 139
6545 10
To Up-keep Elec- - tric Installation.
Cr. By gold Account
1903-March 31.
mer.
chandise. Free and unlimited coinage-as : now prevail ng-will be abolished. The only Government issue will be under the provisions that guarantee the new $100,000,000. Nobody' knows how much Mexican silver money is, 32,036 14.4 the issue there has been emited $400,000,000, now outstanding. Since first. Mexico 'started
17,140 15
THE COST OF TWO BIG WARS.
A British Treasury return issued on 6th Mayr estimates the amount of war expenditure in South Africa and China incurred up to March, 19:3, as follows:
South Africa ......... Sen Sen 211,136,000. China .....
6,010 000 These totals exclude the £3,000,0ço voted as as a temporary advance to the new Youth African Colonies, but include the grants of £100,000 to Lord Roberts and £50,000 of Loid: Kitchener, Cash realised by loans raised for both wars amounts to £152.370,aro, bùi the to al debt thus created is 1590 o oco. The dif ference-over six and balf millions-is not added to the total war cost.
2.
The estimates cover the three years, 1991-
t is interesting to compare them with' the* costs and periods of other great wars → France's share in Franco-German £
War, 1870-71
316,000,000
Britain's share in Crimea War,
C 70,000 co
1851-56 Amer.can Civil War (total) 1863-66 740,100,001 £10,729 14 4 Russo-Turkish War, 1876-77 (10ʻal) 190,000,000
Britain's share in Napoleonic wars,
1793-1815.
1. d.£
Nett proceeds of
11,319.70 from 34,720 tons(in- cluding value of 76th Crush- ing) after pay- ment of Royal- ty, Cost of Transit, Insur« ance, etc.......42,6179 Nett proportion * of proceeds of Cold from Sub- sidiary Com- panies and Syndicates operating un- der agreement on the Com pany's conces«,^.
SO 875 5 11
Balance.......
831,000 coo
s. d. France's share in Napoleonic wars,
1791-1815 ... 2550,000 As a result of the South Africa and Ubira wars the revenue during the three years was increased by taxation to the extent of £75.150,000; but of this sum only £58,456,~ ~ was available for war charges,
43.493 14 7,336 19
$50,720 14
DE BURGH PERSSE, Chairman. CHAL A. CLARKE, Secretary. Queen Street, Brisbane, 16th May, 1903,
The total amount of Customs for the three years was £27,153,000, and of inland revenue 47,998,000. The former was incressed from £3719,000 in 1900-1 to £17,407,000 in 1902-3, and the latter from £10,336,000 to £10,812,000,
Differently classified, the taxation was iny creased thus-Income tax, from: £7,641,000 to £18,107,050 and indirect taxation, from £0.114,000 10, £15130030 the total amounts raised for the three years being £39,884,000 and £35.266,0, a grand total of £75,150,000 1
Addition or new taxes have been imposed on: the following articles to the amounts stated Tea, 20, per lb.CONS
Corn & flour, 3d. and Tobacco, 4d por lb. d. p. cwt. resptively, *Sugar, 4244. per cut, Beer, 18 per barrel. Coal, p. ton export. Spints, 6d. p. gallon. income tax was increased by 4d. in 1971, d. mere in 1901:2, id more in 1903-21 and reduced by 4d in present year, 1903-44 Japan Mall,