!
to attend Sunday services, 1281; to attend week night meetings, 2,413; Kowloon (branch) Institute, visitors, 2,469.
THE PLAGUE,
28th December.
THE HONGKONG WEEKLY PRESS AND
Since last Tuesday four Chinese have died from plague and two Portuguese patients are now in the hospital. The first case came from Third Street, the second from Rutter Street, the third and fourth from First Street, and the last two patients, one of whom is a child and the other a female of advanced age, from a house in Mosque Junction. But the public need not be in the least alarmed, because the cases were isolated and it is to be expected that such cases will be cropping up now and again. The Sanitary Board officials have of course measures to disinfect the houses, and they are now busy in making a house to house inspec- tion in First. Second, and Third Streets, the area which was one of the hotbeds of the disense last year.
taken
30th December.
The Portuguese boy who was taken from a house in Mosque Junction suffering from plague died on the night of the 27th December at the Kennedytown Hospital.
PUNJOM MINING COMPANY, LIMITED.
|
estimates oun
ore reserves
have
155,821
much difficulty at first in treating thổn by the cyanide process, and in avvalna interesting work on these mines by Hatch and Chalmers, entitled the “ Gold of the Rand," I notice that although the demonstrations of the process began in t 1890, it does not seem to have been actually in work till 1891, in which year 35,000 oz. of gold were recovered by the process. To prove to you the value of the process and how quickly it was taken up, as well as to satisfy you of the wisdom of our following up our attempts to get it started at Punjom, in spite of all the obstacles and disappointments we have so far met with I give you the figures of the Rand outputs for the following years, viz. :--
1892 ...160,168 oz. 1883....304,498
1894....587,388
"
33
value
59
17
£ 502,408
*
938,870 1,772,472
the new Company to the old Company for the property it took over. Turning to the working account, the item of administration in last year's A letter was also read from Mr. Goldsmith, accounts has been abolished and I think the who wrote a special message of advice to seamen. various heads of expenditure are now so stated The Rev. O R. HUGHES, chaplain on that shareholders can have little difficulty in H.M.S. Mercury, delivered an interesting ad-seeing where the money has gone. The general dress, in which he reviewed the work of the
expenses, &c., at Punjom, amounting to $12,850, year, and mentioned that he believed Mr. Gold.
seem rather high and are now being gone care- smith had already £150 towards the £2,600 fully into with Mr. Blamey. The other items required for the new Institute in Hongkong.
I think fully explain themselves, but if there A vote of thanks to Commodore Boyes con. are any which shareholders do not understand I cluded a most pleasant evening's entertainment, shall be very glad if they will draw my which was evidently greatly appreciated by the attention to them. The cost of mining and many seamen who were present.
milling has risen to 8113,521 as against $89.879 last year, or 80
increase of about $24.000, but this is natural, ás We mined and milled a much larger quantity of ore, while on the other hand, owing to the in- ferior quality of the stone, our receipts by sales which I think must convince the most sceptical of gold have decreased from $183,278 to on the subject. It may be that the cause of all our $160,000, or a falling off of $23,000, making a trouble will prove a very simple one, and on this total of about $47,000, which is just equal to point I observe from the same work that “the the difference of $46,704 which we were able mechanical preparations of the pulp for the to write off last year. Our other expenses have cyanide treatment is a very much more import therefore been about the same, but when weant operation than is ordinarily supposed by remember the much greater amount of work reason of the losses of gold unaccountable in that has been done at Punjom as detailed in many cases which have been brought out in the Mr. Blamey's report, I think we may fairly working of the process." It is just such an un- take credit for having done something towards accountable loss of gold that we are suffering keeping down expenses there. The cost of❘ from now and the reason for which will no doubt taking down and re-erecting the old battery, be discovered at Punjom as it was on the which has been made as good as new, might | Rand, where in time one obstacle after another have been charged to capital, in which case we was encountered and vanquished until now, could have shown a balance at credit of some when it is expected that the end of 1896 will $18.000, but your directors decided to resist see the majority of all the large wet crushing the temptation and to keep on the safe side mills on the Witwatersrand obtaining over 90 by showing the smaller profit. Not being a per cent, of their gold at a cost of not exceed. mining expert I will not attempt to go into ing 78. per ton for metallurgical operations, that the technical details of Mr. Blamey's report, is, crushing and amalgamation and cyaniding. bat as you will observe with satisfaction he On such a basis of cost as this and an outturn of say 5 dwts per ton of tailings, which our at 20,000 tous and as you know from last month's crushing and assays and experiments show to be a very safe from his recent letters the quality of the ore has estimate indeed, we would recover 250 os. of gold improved considerably. It is to be hoped that per month over and above our ordinary win- this more favourable state of things may con- nings, and I need not tell you what such a re- tinue, but it has been so often a matter of hope, sult as that would mean for us. When the pro- cess was first mooted I was, as many of you know," The fourth ordinary general meeting of the deferred and so many confident anticipations have
one of those who deprecated rushing into it Punjom Mining Co., Limited, was held in the been doomed to disappointment that it does offices, Connanght House, on the 28th December not do for us to be very sanguine this time. without sufficient funds in hand, and just as I at 11
Mr. a.m.
R. Shewan presided. However, if this month's crushing equals was against undue haste then so we would ~ and there were present Messrs. R. Cooke, J. H. || last we may perhaps feel entitled to take ask you now not to be too ready to con Lewis, W. R. Loxley (Directors), Captain a more cheerful view of our prospect in demn the process without giving it a fair Tillett, Messrs. G. Holines, S. B. Babhu, R. C. the future. I now come to our great dis- trial all round. It has cost us nearly $25,000 Wilcox, G. Murray Bain, R. M. Mehta. E. | appointment+the cyanide process W. Terry, J. R. Michael, M. B. Polishwalla, you are pretty well conversant with the facts- E. Georg, G. C. Cox. C. A. Toines, Hart Buck, the non-results, not to mention the extra ex- J. H. Cox, R. Mitchell, and J. B. Duucan penses we have been put to. of the chemist's *(Secretary).
trials of the process, the sending for an expert, the best man the Cassells Company had got in their own employ, to come out and investigate The CHAIRMAN said-Gentlemen, the report the causes of the failure to recover the gold and accounts having been in your hands for in the tailings, and his return home from some days will with your permission be taken as Singapore on the score of ill-health without read. We should like to have had them sent even proceeding to the mines, so I will not out a little sooner, but Mr. Blamey's report | go further into them. (The Chairman here read being rather a lengthy one. the printing and the certificate of the Singapore doctor with getting them out took more time than we anti-regard to the export, which the press was to publish.) We are now cipated. The net result of the year's work is roquested gut that the credit balance of S15,309 brought for- in communication by wire with ward from last year's account has been reduced agents in London and through them with to $12,929, or in other words we have spent about Mr. Gillies your late Chairman, and the $2,400 more than we made. This is, however, Cassells Company about getting out another more than offset by the item of $3,077 for cyanide man at once and can but trust we shall have working, which brought us no return, so that we better luck this next time. If the man we re- have actually just covered our working expenses. quire is not to be had at home we shall try Nothing has been spent on or charged to capital Australia and South Africa, where the process beyond about $9,252 for completing the establish- is well known, and we can only assure you in ment of the cyanide plant, raising the total first this regard that no pains will be spared on our cost of same to $20,708. The only other item in part to protect your interest and save further the balance sheet I think I need refer to is that loss of time and money. Mr. White, the of unpaid calls amounting to $3,319, ali for the chemist in charge at Punjom, will in the mean- final call. This has since been reduced to $294 time proceed with his experiments, being guided and the shareholders from whom this is due by such hints and directions as Mr. Mitchell, have received notice that their shares will be the expert from home, was able to send him forfeited. I may explain that the amounts of before the former's departure from Singapore. -$1.75 and 816 for second and third calls were With regard to Mr. White himself, your Direc- actually paid long ago, but could not be credited tors have fully shared the keen disappointment to capital throngh informalities in connection which has attended Mr. White's work so far, with the sorip, otherwise, of course, the shares but at the same time we must not condemn him would have been forfeited ere this. Some of you or the Cassells Co., to whom we shall of course may perhaps wonder how the value of estate has look for redress, too hastily, for his want of risen from $152,000 to $155,800, but it is merely success. No doubt the conditions under which he a matter of bookkeeping, the difference being has had to work are very different from those the $2.50 credited as paid up on shares which in South Africa or Australia and due allowance were not taken up and which were sold during must be made for this. Many of the Rand now so successful found the year and which $2.50 was the payment by mines which are
The SECRETARY read the notice calling the meeting.
All of
our own
80
far, and it says something for the resources of the Company that it was able to provide this money with the assistance of a call of only $15,000. I will not detain you further, gentlemen, beyond remarking that we have every reason to be satisfied with the way in which Mr. Blamey and his assistants have done their work and attended to your interests at the mines, and assuring you that your directors on their part are doing all in their power to make the Company a successful dividend paying one. Some talk there has been of selling part of our concession at home, but I think that until we can make some money for ourselves and prove to the public that our concession can really be worked at a good profit we may defer the con- sideration of all such schemes for the present. Before moving the adoption of the report and accounts I shall be pleased to answer any ques tion you may have to put to me.
Mr. MEHTA-I should like to know if there; is any scheme under the consideration of the Board for the development of Gubau, because it gave very promising results and was very highly spoken of by Mr. Blamey. As no mention is made of it to-day in the directors" report or in the manager's report I would invite the sp attention of the Board to this matter... I think the locality, so far, has been unduly, ignored by the Board:
**
The CHAIRMAN-The locality you refer has not been ignored by the Board. You are referring to Gubau ?
Mr. MEHTA-To Gubati, yes. There were very promising results some time ag three years ago.
The CHAIRMAN-I thought you said it had been ignored by the Board. ...
Mr. MEHTA-The Board does not seem have paid much attention to it. ~~
The CHAIRMAN The Board has always had work Guban in their mind, but if they want it they would have to spend a lot of money
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