m THE annual meeting ot the shareholders of the Union Beach Gold Mining Company was held this afternoon in the large room of the Insurance Buildings. There were only 12 or 13 present. Captain Daldy pre sided. The Secretary (Mr J. F. Clark), read the report and ballance-sheet. The former stated that in March last the pumps were stopped and prospecting confined to the surface levels only whilst in cross-cutting from the Green Harp road level, a very small gold bearing leader was intersected, which, rt is hoped, will lead to a discovery of payable gold, A few men were now employed in working from the Golden Pah shaft a leader from which a few weeks since the Pah Company had a crushing that yielded at the rate of over 4 ozs. to the ton. At present there were only two tribute parties at work in the mine, neither of which baa met with encouraging prospects. The balance-sheet showed that the receipts for the past yeai had amounted to £2,295 4s lOd, and the expenditure to £2,498 9s 7d, leaving a debit balance of £203 4s 9d. A report from the mine manager was aho read. Captain Daldy, in moving the adoption of the report and balance-sheet, expressed his regret that it was not of so favourable a character us could be wished. It had frequently happened .that Jjust Jwhen they were about to terminate operations in cer tain directions that funds had been made which led them to prosecute the work fur ther. Id order to enable the shareholders to decide what under the existing cir cumstances was best to be done he would read them a short statement, which would convey to them a clearer iiea of the financial position ot the Company I than perhaps the balance-sheet would. At the end of May last the unpaid calls, together with the cash in hand, represented a sum of £499, while the total liabilities were £328, thus leaving a balance of £171. There had been expended since tbe end of May, £27 4s, leaving a crenit balance, when all the calls shall have been paid up, of £143. The estimated monthly expenditure was, at the rate they were now working, £60. A call of Is per share would raise £350, and that would be sufficient to enable them to carry on for four months longer. 