104
HONGKONG COTTON SPINNING, WEAVING, AND DYEING CO., LIMITED.
THE HONGKONG WEEKLY PRESS AND
square; this forms the foundation of the chamber sets, Good progress is being made. Cutting the chamber on the west side of the shaft, where the reef will be cut at a distance of 8 or 9 feet. The first ordinary meeting of the Hongkong. A smaller chamber will be out out on the eastern Cotton Spinning, Weaving and Dyoing Co., side of the shaft; this will facilitate operations Limited, was held on 7th Feb. at the offices of the when sinking is resumed. All the mullock or General Managers, Messrs. Jardine, Matheson country rock obtained from these chambers is and Co. There were present: Hon. J. J. Bell-being dumped into the stopes above the 200 Irving (Chairman), Hon. C. P. Chater, Messrs. feet level for filling up purposes. R. M. Gray, A. Haupt (Directors), A. M. Thom- son, D. Landale, J. Urange, K. M'K. Ross, B. Byramjee, Yee Thin Tyabally, K. Kakajiwalli, Ho Fook, Hoi Choi, An Lun, Ah Hee, Jas. McKie (Secretary), etc:
The SECRETARY read the notice convening. the meeting.
Owing to the Battery being idle through want of water very few men are engaged working in the mine, four being employed driv- ing the level north at the 150 feet level and two bringing in a small stope at back of level, and putting in the level timber, and unless rain comes very shortly work will have to be suspended entirely with the exception of the 300 feet level.
Eureka B Shaft. This, as previously reported, situated 500 feet north of A or Main shaft, and is being sunk 100 feet west of surface ontorop. At present it is intended to sink to a depth of 186 feet. This, allowing for variation on surface, will correspond, with the 200 feet level in main shaft. In a previous report I
Have had four men employed nine days; sunk 16 feet. Logged up and fixed windlass and brace. Shaft to be in three compartments, two compart ments to be 3 feet by 34 in the clear, the other 3 by 3 feet 4 inches.
The CHAIRMAN said As mentioned in the newspaper announcement, just read to you, this meeting is called simply to comply with the articles of association under which this Com-is pany is registered. Our business to-day, gentlemen, is therefore purely formal, and is already practically completed, but seeing that you are here it may interest you to know that we are making very satisfactory progress at every point with the initiation of our enter-stated that the portion of property on which prise Contracts for engines, boilers, gearing, this shaft is being sunk was the richest near and mill machinery have been completed the surface, and having proved beyond all doubt on favourable terms, and although at one time that the reef continues down we may confidently it looked as though shipment of our material anticipate striking a good reef at the depth would be seriously delayed by the crippled pro-stated. While sinking, a chamber will also be duction caused by the strike in the engineering cut to correspond with the 150 feet level main trade, that dispute has at length been happily shaft. ended, and we are assured that our various machinery requirements will commence to ar- rive early in September, which will be quite as soon as it is anticipated the buildings will be ready to receive them. Contracts for foundations of main buildings, engines, boilers, etc., were signed on 15th November, with a guarantee for the work to be completed by 15th April, and favoured by fine weather there is every indication at present of the contractors being well ahead of time. An agreement has been entered into with Mr. Shaw, formerly manager of the Government cotton mills at Hupeh, to take the practical charge of our mills here, and we have every reason to believe that we have acquired the services of a reliable and thoroughly qualified gentleman. Mr. Shaw is expected to arrive here early in October. 'It' does not occur to me to make any further re- marks, but if any shareholder would like apy further information, I shall be pleased to give it. No questions were asked, and the Chairman thanked the shareholders for their attendance.
THE NEW BALMORAL GOLD
MINING CO., LIMITED.
The General Managers, Messrs. John D. Humphrey's & Son have received the following report from their mining manager by steamer Airlie :--
Mount Macdonald,
12th January, 1898.
I have the honour to report that at the Queen Main Shaft we have attained a depth of 348 feet, leaving only 2 feet to sink; when this is completed, driving for the reef will be com- menced, and pushed on as speedily as possible.
Winding machinery and everything in first class order. Contractors for removing Battery making good progress. Nearly all the ma- chinery and building material has been removed to the new site, and the work of re-erecting
will be started at once.
OLIVERS FREEHOLD MINES,
LIMITED.
Olivers Battery.-This, as already stated, is idle for want of water, but is ready to resume crushing at any time, being in first class work ing order, capable of treating, at least 200 tons
per week.
:
[February 12, 1898.
feet from the brace; there is also a little water making in the shaft, but not very troublesome.
The Zulu Main Shaft has again been con. tinued from the 70 feet level on the true under- lie of the reef and is now sunk to a depth of 80 feet from the brace. Through having to do some prospecting work in the hanging wall very little sinking could be done for the last month. The indications in the wall are very good, but so far nothing new has been found. We can now get on with the sinking and cut the same formation at e muóh lower level. We are here unfortunately troubled with heavy water, which will make the sinking slower for a short time, but within about one month we expect to have the shaft fairly well dry. The poppet legs over the shaft have been erected, but the erection of the whin will be delayed a little as we have to log up around the poppet legs and fill in with mullock in order to form the walk for the horse.
1
Surface Work.-Nearly all the dead work has been completed. All our horses are working well.
SHANGHAI LAND INVESTMENT CO., LIMITED.
The following is the report of the directors presented at the ninth annual meeting of shareholders, held at Shanghai on Monday, the 7th February, 1898, at 4.30 o'clock p.m. :-
In presenting their ninth annual report, the directors are pleased to be able to announce é continued and increasing prosperity in the Company's operations.
The Profit or the Working Account stands at Taels 118,751.67 as against Taels 77,695.34 last year.
The Profit and Loss Account, after deducting the amount of the interim dividend, paid in July, shows a credit balance of Taols 219,114.61, which it is proposed to appropriate as follows:- To pay a final dividend of 64
per cent. on the paid-up cap- ital (making 11 per cent. för the year)...
Tls. 84,500.00
و"
To transfer to Reserve Fund
(making it up to Taels 200,000) 130,000.00 To carry forward to New Ac-
count
4,614.61 Wills's Estate No. 1 calls for no comment. Chwong Hoong Estate No. 2.---All the build-
Battery Dam-Advantage is being taken of the exceptionally dry season to have this cleaned out. I had often been in. formed that previous to the late Mr. Charles Willmott's taking the management thousands of tons of sand and slurry had been run direct from the Battery into the dam and these reports are fully confirmed. Fully one half of the holding capacity of this splendidings on this estate have been completed and dam is filled up. At present we have three drays with sufficient men to keep them constantly going all day carting out, also two scoops, one run by four horses and the other by two, so that in a few days we will greatly increase the storage capacity of this dam and we earnestly hope to sed it filled shortly.
Ro the source from whence the stone recently crushed was obtained, I may state that about two-thirds was taken from the 200 feat level and the remainder from the 150 ft.
Winding plant and everything connected with the mine in first class order, our only drawback being want of water.
GREAT EASTERN AND CALE- ·
DONIAN GOLD MINING co., LIMITED.
the mining manager by the steamer Airlie :-
The following report has been received from
Mount Macdonald, 10th January. the following work has been done :
Since my last report of the 31st December Prospecting Shaft Gold Lease 37 is now down to 62 feet from the brace with the indications unchanged.
We have secured now three shifts for this We are informed by Messrs. John D. Hum-shaft and should get along fast. Most of the phreys and Son, General Managers of Olivers time since my last has been spent in timbering Freehold Mines, Limited, that a crushing of and securing the surface. At present foul air 450 tons of quartz from the Eureka Mine has gives us a great deal of trouble, probably caused
through absence of rain. yielded half an ounce to the ton.
The General Managers further inform us that they have received the following report from their mining manager by steamer Airlie:
Mount Macdonald,
12th January, 1898. I have the honour to report that the sinking of the Eureka Main Shaft to a depth of 307 feet has been completed. String bearers we put in at 302 feet and upon these are placed two heavy sets of timber, one set being made, of round timber and the other of sawn timber & inches
The Great Eastern Main Shaft has reached now a depth of 111 feet from the brace. The country is unfortunately harder again, but still 7 feet in barely eight working days is good pro- gress; the shaft makes a little water, but not sufficient to interfere with the sinking to any extent.
The Caledonian Main Shaft.--The ground still remains hard, but we hope to get softer ground at a greater depth, when we expect to make up for the delay. The shaft is down 77
satisfactorily let. There is still one plot of land, unoccupied next to the proposed Public Garden, but owing to the greatly enhanced cost of building the Directors have decided to defer for the present dealing with this lot. With this exception, the estate may be considered fully developed.
Little's Estate No. 4.-The buildings refer- red to in last report are progressing in a satis factory manner, and it is hoped they will all be ready for occupation in the early Autumn.
Hanbury Road Estate No. 5.This estate is now fully developed and the houses find tenants at fairly remunerative rentals,
Jin Kee Estate No. 6.-Building has com- menced and several applications have already been made for leases, so that the Directors look forward to the property becoming a good source. of income in the near future.
Estates Nos. 8 and 9 are properties purchased during the year which the Directors think will lend themselves to development in the way, of building Chinese houses in the not far distant future. The former is situated on the Hong- kew Creek, just outside the Hongkew Settle- ment. The latter is to the North of the Seward Road, and is known as Cadastral Lot No. 1025.
The Directors are pleased to say that the call for new capital was promptly responded to and, with few exceptions, the allotments to shareholders were taken up. The proceeds of the fractions of shares have been distributed among the shareholders interested in them. The shares not applied for have been disposed of since the accounts were closed, and there will be a further sum of Taels 2,745.60 to appear to the credit of Premium Account in the present year.
Directors. Mr. Hearn retires by rotation, but offers himself for re-election.
Auditor.--Mr. Wingrove has again audited the accounts and.now offers himself for election for the current year.
H. R. HEARN, Chairman.
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