December 81, 1898.]
next, to issue a pupob ticket at a slightly reduced rate which will be available to or from Bowen Road and the Peak. We regret that the ex-| tremely steep gradient at Flantation Road, together with the precipitous nature of the ground to the north side, renders any improve. ment to the present station there difficult. Some correspondence has taken place in the Press relating to chair shelters at the Peak terminus, and one or two of the correspondents seemed to hold somewhat peculiar views as to this Company's responsibilities. We do not see our way to purchasing ground and erecting public chair shelters out of this Company's funds. No questions were asked and the CHAIRMAN proposed the adoption of the report and accounts.
Mr. MURRAY BAIN seconded. Carried.
The CHAIRMAN proposed the re-election of Messrs. Ewens and Orange as the Consulting Committee.
Mr. WINTERBURN seconded. Carried.
Mr. ORANGE proposed the re-election of Messrs. Fullarton Henderson and W. H. Potts as auditors.
Mr. MANCELL seconded. ́.
The CHAIRMAN-That is all the business of the meeting, gentlemen. Dividend warrants are now ready, and can be had at the office on application. I see no reason why the dividend next year should not be equally good, if not better, but I do not think we can look forward to another 3 per cont. rise. Gentlemen, I wish you a Merry Christmas and a Happy New Year.
ROYAL HONGKONG YACHT CLUB.
|
The course for this race, which was sailed on the 18th December, was round Channel Rocks, Kowloon Rock, and Meyer's east buoy; all to port, twice round; 13 miles. The following boats started, A class at 1.15 and B class at 1.30 :- Meteor, Maid Marian, Phoebe, Erica, Sybil, Chanticleer, Bonito, Princess, Dart, Payne, Ladybird, and She. The wind was east at the start, very light but stronger in Kowloon nay, and the boats were spread over the harbour, there being differences of opinion as to where the wind would be strongest. Erica on the Hongkong shore and Phoebe near Kowloon Docks, the two extreme boats, were most favoured, and they led the fleet round all the marks, Erica with a 4 to 5 minutes' lead until Meyer's bouy was rounded the second time, when Phoebe carried the wind along with her. Sybil was third boat, and close up at this
point. The three drifted down towards the finishing line almost together, and they each in turn got very near the line, but only to be drifted back by the ebb tide coming round Kow- loon Point. The Maid Marian joined them and at one time looked like winning, but Erica making a tack close in to the Praya wall got across the line first, followed by the Sybil, with
Maid Marian third. The times were Erica
4 52 51 first ..0 marks Sybil
4 57 52 second 4 5 2 25 third 1
Maid Marian Phoebe Meteor
5 3 4 5 15 35
"
"
The other boats did not finish. The total marks in the competitions for the Club prizes
to date are:-
Chanticleer Erica...
Sybil..
Bonito
Active
Meteor
20 Dart
19 Ladybird 14 Princess
4 She
24
14
6
CHINA OVERLAND TRADE REPORT.
The SECRETARY read the notice convening the meeting.
347
and G. C. Cox, directors; Mr. L. Lambotte, sistance. I trust, gentlemen, we shall receive secretary; Messrs. A. Best, J. M. Michael, S.telegram from the mines next month announcing H. Michael, E. Georg, K. Eduljee, F. Forst- a satisfactory crushing, one that will encourage mann, and T. H. Vogelgesang.
us to develop the mines thoroughly and quickly. We had hoped to have given you this news earlier, but the manufacturers failed to keep their time for delivery of some of the machinery; hence the delay in our first crushing. I think, Lang An this gentlemen, that is all I have to say on occasion; but if you have any questions to ask, I shall do my best to supply any further in- formation.
The CHAIRMAN said-Gentlemen, with your permission we will follow the usual practice, and take the report and accounts as read. The accounts have been made up to the 30th June, the latest date We could, having regard to our distance from the mines, conveniently adopt. Since that date we have purchased (and I hope by this time sat up) a battery of twenty head of stamps with equivalent Berdan pans, and these should soon be engaged in crushing the 800 or 1,000 tons of quartz that has been brought to grass from the different mines. An office has been erected at the mines, and the dam has been completed, thus assuring-so far as can be assured, in a country where droughts are frequent and the rainfall variable-a sufficient supply for all pur- poses. With regard to the mines themselves, you have no doubt read the reports from our mana- ger, sent by each mail, and are therefore pretty well posted in the progress of the work of dove- lopment. A great deal of work has been done in opening out our property, though of course much more remains to be accomplished before we can expect a sufficiently large output to keep our battery fully and constantly at work. At the end of Jane the Great Eastern shaft had been sunk to a depth of 18 feet with a cross-cut to west of 31 feet and one to east of 15 feet. The Caledonian main shaft was then 14 feet deep and the cross-cut 6 feet. The Zulu shaft bad got down to a depth of 129 feet and that in the Rise and Shine to 81 feet
resources
The prospecting shaft had been sunk to a depth of 107 feet, and work was then sus- pended upon it in order that our might be concentrated in opening out the other shafts. Since that period the Great Eastern drive has been cut 79 feet north, with a rise of 15 feet; in the Zulu shaft a drive of 48 feet has been effected south; the Caledonian main shaft has a drive of 80 feet, opened; aud drives
Mr. GEORG said he should like to ask what funds they had in hand and how long could they go on, apart from the result of the crushing they expected.
}
The CHAIRMAN replied that at the present time they had a balance of about $35 000, which would last them several months.
Mr. GEORG―That is apart from whatever we may get from the crushing ?
The CHAIRMAN—Yes. Mr. GEO&G Some people think we have not sufficient money to go on with.
The CHAIRMAN-We hope the örülnings will be sufficient for all purposes.
There being no further questions, the report was adopted, on the motion of the CHAIRMAN seconded by Mr. GEORG.
On the motion of Mr. BEST, seconded by Mr. J. M. MICHAEL, Messrs. R. C. Wilcox and M. Abesser were re-elected directors.
The CHAIRMAN announced that the accounts had been au lited by Mr. A. O'D. Gourdin, but it was not necessary that the same gentleman should audit the accounts every year. According to the regulations it was in the power of the share- holders to select an auditor, but it was usual for the shareholders to leave it in the hands of the directors.
A
On the motion of Mr. BEST, seconded by Mr. J. M. MICHAEL, it was decided to leave the mat-
ter in the hands of the directors.
The CHAIRMAN remarked that that was all the business. They had some samples of ore from the mines and also some from Pinkerton's claim, which was a mine adjoining the "Zulu mine and which had special interest
have also been commenced in the Bank of Eng- | them, because it was so closely adjoining to
land and Rise and Shine shafts. So far very satisfactory progress has been made, but the stone is unusually bard and we are at some dis- advantage in not possessing rock drills. We hope bye and bye to obtain powerful rock- drilling plaut, as our manager tells us he could hands, who could turn out plenty of quartz at with advantage then employ more than 200
a great saving in the cost of winning it. What like they are getting at Raub. According to we want is a large and steady out-put of quartz
the assayer's reports, it would appear that the gold is nearly all extracted without having to use the cyanide process, so we are making no provision for the acquisition of a cyanide plant. The stone at Mount Macdonak is fairly rich, but the gold is not by any means evenly dis tributed. We have so far been fortunate in striking good lodes which seem to yield more than the average, but of course some of them may vary in width and richness. If, however, we can only develop the mines sufficiently we ought to continue to secure a steady out turn. In Mr. Carl Georg we have an in- defatigable manager, who looks after
thing, who will, we may be sure, do his best to keep things going and to prevent the waste which is such a couspicuous feature in many mining enterprises. The choice of the most suitable and economical machinery 00- cupied a great deal of his and our attention, and we believe we have now acquired the best that could be obtained at the price and the kind most adapted to our wants. Miners as & class are difficult men to deal with and unless the mining manager is very diligent and observant GREAT RASTER V AND CAL Dwork is apt to be sadly neglected. Mr. Georg
NIAN GOLD MINING COMPANY, LIMITED.
Maid Marian
1
The second ordinary general meeting of shareholders of the above company was held at the registered office of the company, No. 7, Queen's Road Central, on the 29th December, for the purpose of receiving the report of the direc- tors, together with a statement of accounts for the year ending June 30th. Mr. R. C. Wilcox (Chairman) occupied the chair, and there were also present Messrs. A. Denison, R. Abesser,"
specimens from Pinkerton's claim were of their property.. They would see that these exceeding richness. Showing a small "button" of gold he said it was the only specimen of their gold at present, but he hoped they would be able to give them some very much more sub- stantial results before long.
The proceedings then terminated.
meeting-
The following is the report presented to the
To the shareholders of the Great Eastern and Caledonian Gold Mining Co., Limited. holders a statement of accounts for the period The Directors beg to submit to the share-
ending 30th June, 1898. As will be seen, the the different mines, and since this account has sum of $25,893.77 has been spent in opening up
been made up, plant and machinery have been purchased and at last advices their erection was almost completed.
MINING PROPERTIES.
In addition to the Great Eastern and the Caledonian Gold Mining Leases, another pro- party has been acquired, comprising the Zulu Mine, the Bank of England, the Rise and Shine, besides other ground, which as it promises to be useful in working, has been pegged out for the Company.
The above-named fire shafts are all in a fair state of development, and yield- ing good quarta. The prospecting shaft, after having been sunk to a depth of 107 feet, was temporarily stopped, it being considered better policy to employ the Company's resources în developing the existing shafts.
DAM.
A dam has been constructed in a substantial manner whielt gives a storage capacity of above two million gallons, thus providing an ample supply of water at the mines, a matter of no mean consideration in a country where the rain- fall is so capricious. At laat reports the daili was overflowing.
has experienced many difficulties of this kind, but he has profited by his experience, and has found it most advantageous to work by contract whenever possible. I am glad to say the calls have been responded to very readily, al being now paid up except those ou 187 shares, one lot of which would have been paid but for the death of the holder, while another has been de- layed by the accident of losing the scrip. You will observe that the directors' fees figure this year for only $500, which sum was voted to Mr. Denison in consideration of professional as-selves for re-election,
·DIRETOKS.
In accordance with the articles of associa- tiou, Messrs. R. C. Wilcox and R. Abesser- retire in rotation, but being eligible, offer them-
I
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