September 23, 1897.]
- Olivers Battery-On cleaning off on 21st inst. we found that the stampers were com- pletely worn out, and the boxes beyond further repair, so we decided to suspend crushing, as it would have been only a waste of time and money to attempt to work it. The work of dismantling and pulling out was commenced on the 23rd inst. and will soon be completed, and bed logs put in position for the new boxes, &c., &c. The new tables on a larger scale and im- proved pattern are almost completed, and the engine and boilers are having a thorough over. haul; so that on re-starting, everything will be in first class order; and with the stone now at grass and in sight bolow, there can be no doubt as to a successful result.
NEW BALMORAL GOLD MINING CO., LIMITED,
Messrs. John D. Humphreys & Son, the General Managers, have received the following report from the mines-
Mount Macdonald, 27th August 1897. Queen Mine-The contractors in the main shaft are nearing the completion of their con- tract; and when that is done, the alteration to the poppet legs will be made, as it cannot be undertaken while the men are working in the shaft.
Balmoral Mine-The men in the tunnel on G.L. 6 are making fair progress for the True Blue run of stone. Another tribute has been let on G.L. 5, the Company retaining one half of the interest and paying the men work ing half wages. We consider this arrange- ment highly advantageous to the Company. Should gold be struck, in addition to receiving a percentage on the gross yield, the Company would also receive one half of the gold. By this arrangement the ground will be prospected at a comparatively small outlay.
THE RAUB MINES.
CHINA OVERLAND TRADE REPORT.
out of order. Our correspondent says that electrical machinery of this description is still a good deal in the experimental stage and he does not quite like the idea of Raub playing the role of pioneer in and about a Malay jungle. Well, we would advise our correspondent not to worry. A mol-hill be- comes a mountain entirely according to the point of view. No doubt, the manager and the directors of Raub have taken all the points he mentions into careful consideration; and one of the principal objects Mr. Bibby has in view, during his absence on leave, is to get the full- est information with regard to the proposed installation. Certainly, if a cable is laid between the Simpan River and the Raub Mines, it will not be left to take care of itself. Our correspondent must have faith, nothing wavering, in the sense of the manager and of the direc tors. Besides, there is no absolate decision on the subject as yet.—Struïts Times
S. C. FARNHAM & CO., LIMITED.
The fifth annual general meeting of the shareholders in this company was held at Shanghai on the 8th September. Mr. G. Galles (Chairman) presided and there were present: Messrs. Geo. Peebles (Director), J. S. Knowles (Secretary), J. M. Young, Pemberton, A. Tharburn, A. Miller, Wm. Thomson, W. H. Beatty, Spooner, Grauston. Ferrier, C. Bucha- nan, Capt. Young. G. R. Corner. C. Thorne. G. W. Noël, H. von Rücker, W. S. Jackson, Zee Lan-char, Tulloch, and Darblestein, re-
presenting in all 3,227 shares, I he notice con- vening the meeting having been read,
The Chairman, in moving the adoption of the report and accounts, said-Gentlemen, the report and accounts have been in your hands for some time and with your permission we will take them as read. Although, as you will no- tice, the gross earnings have not quite come up to those of last year, they compare favourably with former years. The working account is The Raub crushing for the months of July made up as before and does not require any and August has yielded 1,517 ounces of smelted special explanation. Regarding our bark Dru gold from 2,350 tons of stone. That gives us meltan, which vessel returned from her second the somewhat low average of 12 dwts. 21
royage to New York ou the 4th inst., we could grains and a fraction of gold to the ton of stone,. only include the profit on the first one, and crushed. The average for May and June was
this year will get the benefit of the second trip. nearly 174 dwts. to the ton, and the average for As was suggested at our last unnal meeting, the four previous crushings, covering a period of we have mentioned our Old Dock property eight months, was 17.23 dwts. The explana- separately. Our Cosmopolitan Dock pr tion of the low average recorded to-day is said perty consists now of about 153 mow with? to be that development work is being pushed 2,483 feet water-frontage, the value of which forward, and, necessarily, little attention is be. will rise with the increasing importance of the ing given to stoping. The policy of vigorous port. I may mention that the amount of development, without reference to shares and Tls. 29,598.04 for the 107 mow, which you will find dividends, was emphatically recommended, it under onr assets, includes about Tls. 4,000 ex- will be remembered, by our Special Commis-pended on wall fence and road enclosing the pro- sioner, after his visit to the mines last spring. Our Commissioner wrote:-"The Directors of Raub would still, probably, be doing the very best thing for the shareholders if they were to put away all idea of paying a dividend for a year or two, and devote themselves
to entirely
and development work,
to the laying bare of large reserves. This is how big dividends have been accumulated on the Rand." However, there is nothing alarm- ing in the average just declared. A steady average in mining can only be maintained where you have a developed mine, where the manager has a mine map exhibiting the differ- ent grades of different lodes, and where he takes just so much ore from each lode as will maintain the average at the battery. But, where a mine is being developed, averages are bound to fluctuate month after month as the ore varies in richness. The record average of March and April-over an ounce to the ton- sent up the price of the shares to bigh water mark. To-day's average may give them a tendency downwards. But wise men will dis- regard the fluctuating results of individual crushings.
writes to A Hongkong correspondent us, asking a number of questions with reference to Raub. He is troubled about the electric installation by cross-country cable from the Simpan River, and conjures up dangers to it from "elephants and rhinoceroses, "up-risings among natives," and discontent among Chinese miners." Then, again, he dreads the effect on the working of the mines, should the cable be seriously damaged, or get seriously
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perty. Owing to the largely increased size of steamers coming here, we have during the last few years unfortunately been compelled to refuse to dock a good many, some of which were forced to dock in Hongkong or elsewhere. When our new dock is completed (dimensions of which will be 557 feet long over all, by 82 feet wide, at entrance, with 24 feet water on sill), we hope this will not happen again, as the dock will be capable of accommodating the largest vessels which can come to Shanghai, We can cer- tainly congratulate the shareholders on the thoroughly sound and strong position in which our Company stands at present. Besides having a well invested reserve fund of Tls, 275,000, we have a depreciation and maintenance fund of Tls. 60,000, which might be called a second reserve, as owing to the rise in land, coupled with the low rates of exchange, our properties have all considerably appreciated. Our build- ings, machinery, and plant are kept in first class repair and, as in former years, we have again spent out of earnings a considerable amount for improvements enlarging and im- proving our workshops and almost rebuilding our Old Dock and Tungkadoo Dock.
There being no questions,
The Chairman proposed That the report and accounts of the Company for year ending the 30th of June, 1897, as printed and circu- lated, be adopted and approved, and that the directors be authorised to pay a dividend at the rate of Tls. 12 per share to the shareholders on the register at this date."
Mr. Peebles seconded, and the resolution was carried nem, con,
241
Upon the motion of Mr. A. T'hurburn, seconded by Mr. J. M. Young, Mr. G. Galles was re- elected a director; and at the instance of Mr. W. S. Jackson, seconded by Mr. G. W. Noël, Mr. G. R. Corner and Mr. W. H. Anderson were re-elected as anditors.
Mr. G. W. Noël proposed a rote of thanks to the directors and staff for their services, which was carried by acclama'ion.
The Chairman briefly acknowledged the com- pliment.
The proceedings then terminated.
At the conclusion of the meeting the Chair- man extended an invitation to shareholders present to visit the Cosmopolitan Dock, late Collier, now under construction. Steam launches were in waiting and most of those present went down the river to the new dock. On arrival the shareholders were shown round the dock and-also inspected the buildings in course of construction.
The dock was commenced in March last and is expected to be finished in about eight months. The dimensions are 557 feet over all; 525 feet ou the foør. 82 feet entrance, and 24 feet of water on the sill.-N. ('. Daily News.
THE HONGKONG CRICKET CLUB.
The following is the report for the season 1896-1897 :-
To the Members of the Hongkong Cricket Club. Gentlemen, The Committee have the plea- sure of presenting their annual report on the season 1896-1897.
The accounts which are attached show a balance of $4,598.68 to the credit of the Club, on the 31st August, 1897.-
The usual list of members together with the batting and bowling averages for the season is annexed. It will be seen that the batting aver- age list is headed by Mr. A. G. Ward with 30.80 whilst Mr. M. D. Wood, W.Y.R. was most successful with the ball, taking 25 wickets at a cost of 9.52 per wicket.
Only one score of over 100 was made viz. :. 105 by Mr. A. G. Ward.
An old member of the Club having expressed a wish to present a souvenir to the member who, in the opinion of the Committee, had the best all round record for the season 1896-97, the Committee decided by ballot that Mr. T. best entitled to that Sercombe Smith was description.
The racquel courts have been made use of by an increasingly large number of members. Both the courts as well as the quarters attached The internal walls have are in good repair been recently coloured and minor repairs executed.
Invitations have been sent to the Shanghai and Singapore Cricket Clubs inviting elevens to visit Hongkong in the early part of the coming season and answers bave been received accepting the invitations. It is proposed to play a series of inter-port matches during the second week in November when it is hoped that a great proportion of the cricket strength of the Far East may be assembled here.
The Club played 9 club matches, of which 4 were won and 5 lost. Great difficulty was experienced in getting the civilian members of the Club to play regularly or even in the more important matches.
The accommodation of the pavilion being very inadequate to the requirements of an increasing number of members, the Committee had an out- house built to the east of the pavilion for stor- This diminishes the ing materials and gear. pressure in the dressing room and permits of the introduction of 24.additional lockers.
The pavilion is in fairly good repair and the ground is in capital order. The pitch and the practice wickets have been relaid and in spite of the fact that the ground gets more hardly used year by gear as the place grows in size, and the club grows in membership, it is believed that the wickets in the coming season will be up to the standard of past years.
The Committee much regret the loss (through absence from the colony) of their popular and much respected president, Mr. Atwell Coxon. whose name has been intimately associated with the club from its earliest days, originally as one of its most enthusiastic playing members, and latterly as one, whose counsel and advice were ever at the disposal of the Committee.
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