The Express.
London, England, 1858-06-17 00:00:00

ET. 10721 NIL EIT MINING COMPANY.

Subjoined are some of the 'Principal pelages con-
tabbed fa the 28th mama report of the directors :
"The proprietors ere already aware that the year now
closed set in under most unfavourable circumatatices. A
most serious casualty had occurred a few days only before the
close of the previous year—• casualty such se all mining
operations are liable to—one which the directors believe no
human foresight could have guarded against, end the egrets
of which, at that time, it was impossible to calculate. Up to
the end of November' which completed the first half of the
year, the loan shown by the company's books on the opera-
tions of the preceding tit mullahs was 4.9871. This lots
has, however, during the second half of the year been reco-
vered, and the accounts for the whole year, herewith pre-
sented, show a alight profit n the operations of the year.
This result, ooneldariag the serious nature of the ounalty,
the great additional outlay it occasioned on unproductive
works—both for labour and materials, in repairing the
damage and guarding against future movements of a simile
nature—considering that during eight months the borers
were shut out of the most productive part of the ohm (while
the mine is now reported by the whole body of European
miners in the company's service to be again in a thoroughly
safe condition), the board deem a subject of congratulation.
The monthly produce of gold at Morro Who, from the 21st
March, 1867, to the 19th of Mareb,lB6B, both days inclusive,
has beam 281,247 alarm The produce for the
twelve months ending the 20th of March, 1867,
was 307,281 oitavas. The net profit on the working
of the mines foe the past year hair been 7884 12a. 2&
The amount of prat made from 21st March, 1867, to the
19th March, 1888, tang carried to the credit of profit and
low account, leaves that account in credit 3161. 34.10 d. By
the storekeeper's report it will be found that the company has
still to contend sprains% increasing prices in almost all articles
of native produce. This circumstance, and the increasing
price of labour in Brasil—which, it should be obeerri4
chiefly causes it—engage the anxious attention of the dim-
ton. On the latter they have recently bad an opportunity
of conferring personally with a partner in the house of
Messrs. W. Harrisonand Co.. the company's spats at Rio
de Janeiro, with a view to their seeing if it will not be prior
ticable to engage a number of fres labourers at Rio for the
mines. It is gratifying to the directors to be able to state
that throughout the year, the health of the-establishment has
been excellent. The rate of mortality amongst the blacks,
Including accidents, has been only 2.84 per cent. The fol-
lowing is the financial position of the company :—ln Eng-
land—Cash at Barclays, 1,6321. 16s. 9d. • in deposit
with the London Joint-Stock Bank, 23,1/001. Total,
24,8321. 16s. 9d. To pay drafts runniest. 19,0001.
In Snail—Cash at MorroValtio as let March, 9,733/.lla ha.;
ditto in agent's hands at 1ti0,15,1441. 17.,. Bd.; total, 15,8731.
9.. led. To pay in Srezil—Selaries and wages, 3,7321.
17.. 2ii. ; estimatedienses of working the mines for two
months, 14,0001 ; 17,7331. 17s. 2d. . . . It will
be seen from the fore mg seatementa that this company has,
doting its continuance, realised profits amounting in the
whole to 424,7684 This has been done with a capital of
126,4001; the total amount of capital received from the
shareholders having been 136,0001., from which is to he de-
ducted the sum of 6,6001., returned to these out of the Bra-
zilian stock, which had bees deposited at the outset of the
undertaking with the Brazilian government. The event, of
the last year have fully exemplified the edvantege of mita-
blithieg the 'reserve fund,' proposed many years since by the
directors; and they will be very glad to see the time arrive
when that fund can be further reinforced. In conformity
with the resolution peeped at a general meeting of the Aare-
holders held at the °appears oaks, on the llth day of
illidnazsdhist, the carper/ has be= registered as a company of a

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