The following is the record of the dividends paid by the company, to which must be added an interim dividend of 4s. per share paid on July 10 last:

Date when Paid.

Nominal Capital.

Amount of

Dividend per

Share.

Rate per fully-paid Share per annum.

£

s.

d.

May 31,1886 ....

150,000

2

0

20 per cent.

December 31, 1886 ....

150,000

2

0

May 28, 1887 ....

150,000

2

0

10 "

June 20, 1888 ...

150,000

2

0

20 "

October 31, 1888 . ...

150,000

2

0

25,000

1

0

May 16, 1889 ....

175,000

2

6

75 "

September 10, 1889 ....

175,000

3

0

December 10, 1889 ....

175,000

3

0

March 10, 1890...

175,000

6

6

June 13, 1890 ...

175,000

5

0

75 "

October 13, 1890 . ..

175,000

4

0

25,000

3

0

March 10, 1891..

200,000

6

0

June 9, 1891 ...

200,000

4

6

65 "

October 10, 1891..

225,000

3

6

March 10, 1892..

225,000

5

0

June 14, 1892 ...

225,000

3

0

50 "

October 11, 1892 ...

225,000

3

0

March 14, 1893..

225,000

4

0

July 11, 1893 ...

225,000

3

6

50 "

November 11, 1893 . ..

225,000

3

6

25,000

1

2

March 14, 1894..

250,000

3

0

July 11, 1894 ...

250,000

2

0

25 "

November 17, 1894 ...

250,000

1

0

March 14, 1895..

250,000

2

0

July 11, 1895 ...

250,000

2

6

47 1/2 "

November 16, 1895 ...

250,000

2

6

March 14, 1896..

250,000

4

6

July 11, 1896 ...

250,000

6

0

100* "

November 11, 1896 ...

250,000

7

0

March 13, 1897..

250,000

3

6

July 10, 1897 ...

250,000

3

0

110 "

November 11, 1897 ...

250,000

3

6

March 10, 1898..

250,000

4

6

July 12, 1898 ...

250,000

4

6

150 "

November 10, 1898 ...

250,000

5

0

March 14, 1899...

250,000

5

6

July 12, 1899 ...

250,000

4

0

140 "

November 10, 1899 ...

250,000

4

6

March 14, 1900..

250,000

5

6

July 12, 1900 ...

250,000

4

0

135 "

November 10, 1900 ...

250,000

4

0

March 9, 1901 ...

250,000

5

6

* In February, 1897, each £1 share was subdivided into two shares of 10s. each.

In addition to the above dividends, shares and cash realized by the sale of property to the Champion Reef Company were distributed in 1880, representing £87,500, or 50 per cent. upon the nominal capital of the company at that time.

For some years past there has been a keen rivalry between the Mysore and Champion Reef for premiership, and there is, indeed, very little to choose between both mines. The ore developed in this mine up to the present has been of great value, and, like its neighbour, it is destined to keep up its present returns, to say nothing of the possibility of improvement, for many years to come. The latest report stated that the mine continued to disclose valuable bodies of ore, the more important of which were in the neighbourhood of Ribblesdale's shaft. The lode opened up by Rowe's shaft has been of good size and value, though not of such uniform richness as in the upper levels. The superintendent, however, hopes that, as greater depth is attained, the ore will be proved to be of as high grade as formerly. The following table (p. 309) gives the dividends paid by the company, the latest being an interim dividend of 4s. per share, payable on September 3.

The Ooregum Mine

The Ooregum Mine occupied many years ago the leading position amongst the Indian mines, but it subsequently met with many misfortunes, and not only sank to a subordinate position, but it looked at one time as though its career was ending. The original shoots gave out at a depth of about 800 feet, and though a lot of development work was done below this, only one shoot appeared to continue in depth. But at the 1,410 feet level a remarkable change took place, a shoot of ore being found extending to beyond Taylor's shaft, a distance of 600 feet from the boundary - indeed, it looks as if the rich shoots found in the Champion Reef mine will eventually dip into the Ooregum. At the present moment, therefore, the prospects of this company could hardly be more promising, and there is the possibility that it will ultimately again occupy its former position as premier mine on the Colar Field; at any rate, it is a sound investment. An interim dividend of 2s. on the preference shares and another of a like amount on the ordinary shares was paid last April, the record of the previous dividends being as given in tables on pp. 311, 312. The Nundydroog comes fourth on the list, but a long way behind the other three. This mine is practically depending on one shoot, but this is a fine body of ore, and it has every appearance of maintaining its value in depth. However, during the past year the operations in and about Kennedy's and North shafts, where the lodes have hitherto been disappointing, have been very successful, whilst an important feature of last year's development is that an almost continuous run of ore-ground has been laid open south of these shafts for a length of 1,060 feet underneath a barren zone of ground near the centre of the property. The superintendent considers the prospects brighter than they have been for some years, and that the future returns should be increased. The company has been a regular dividend-payer, as the table on page 313 will show:

Date when Paid.

Nominal Capital.

Amount of Dividend per Share.

Rate per fully-paid Share per annum.

£

s.

d.

April 12, 1894 .

200,000

2

0

35 per cent.

September 12, 1894

200,000

2

0

January 26, 1895.

200,000

3

0

May 4,1895

200,000

4

0

65 „

September 12, 1895

200,000

4

0

January 11, 1896 .

220,000

5

0

May 1,1896 .

220,000

4

0

67 1/2 "

September 1, 1896

220,000

4

6

January 6, 1897 .

220,000

5

0

May 1, 1897.

220,000

3

0

100* "

September 1, 1897

220,000

3

6

January 12, 1898 .

220,000

3

6

May 3,1898.

220,000

3

6

110 "

September 1, 1898

220,000

3

6

January 6, 1899 .

220,000

4

0

May 4, 1899.

220,000

3

6

l25 "

September 1, 1899

220,000

4

0

January 5, 1900 .

220,000

5

0

May 1,1900.

220,000

4

0

130 "

September 1,1900

220,000

4

0

Payable January 1,1901

220,000

5

0

* In February, 1897, the £1 shares were subdivided into 10s. shares.

Date when Paid.

Nominal Capital.

Amount of Dividend per Share.

£

s..

d.

April 27, 1891 . .

125,000 Ord.

1

0

120,000 Pref.

3

0

October 27, 1891 . .

145,000 Ord.

1

0

120,000 Pref.

3

0

April 27, 1892 . .

145,000 Ord.

2

6

120,000 Pref.

2

6

October 12, 1892 . .

145,000 Ord.

2

6

120,000 Pref.

4

6

December 22, 1892 .

145,000 Ord.

2

0

120,000 Pref.

2

0

April 14, 1893 . .

145,000 Ord.

3

0

120,000 Pref.

3

0

August 10, 1893 . .

145,000 Ord.

3

0

120,000 Pref.

5

0

December 11, 1893 .

145,000 Ord.

3

6

120,000 Pref.

3

6

April 24, 1894 . .

145,000 Ord.

4

0

120,000 Pref.

4

0

August 14, 1894 . .

145,000 Ord.

2

6

120,000 Pref.

4

6

December 10, 1894 .

145,000 Ord.

2

6

120,000 Pref.

2

6

April 22, 1895 . .

145,000 Ord.

2

6

120,000 Pref.

2

6

August 28, 1895 . .

145,000 Ord.

2

0

120,000 Pref

4

0

December 19, 1895 .

145,000 Ord.

3

0

120,000 Pref.

3

0

The above figures show dividends amounting to £2 13s. per share, or 265 per cent. on the ordinary shares, and £3 13s. per share, or 365 per cent. on the preference shares.

Date when Paid.

Nominal Capital.

Amount of Dividend per Share.

£

8.

d.

April 18, 1896 ...

145,000 Ord.

2

6

120,000 Pref.

2

6

August 5, 1896 . .

145,000 Ord.

2

0

120,000 Pref.

4

0

December 9, 1896 .

145,000 Ord.

2

0

120,000 Pref.

2

0

April 15, 1897. . .

145,000 Ord.

2

0

120,000 Pref.

2

0

August 4, 1897 .

145,000 Ord

0

6

120,000 Pref.

2

6

December 8, 1897

145,000 Ord.

1

0

120,000 Pref.

1

0

April 14, 1898. .

145,000 Ord.

1

0

120,000 Pref.

1

0

August 4, 1898 .

145,000 Ord.

0

6

120,000 Pref.

2

6

December 8, 1898

145,000 Ord.

1

0

120,000 Pref.

1

0

April 18, 1899 . .

145,000 Ord.

1

6

120,000 Pref.

1

6

August 4, 1899 . .

145,000 Ord.

0

6

120,000 Pref.

2

6

December 8, 1899

145,000 Ord.

1

6

120,000 Pref.

1

6

Payable

April 18, 1900 .

145,000 Ord.

2

0

120,000 Pref.

2

0

The above figures show dividends amounting to £2 13s. per share, or 265 per cent. on the ordinary shares, and £3 13s. per share, or 365 per cent. on the preference shares.

Date.

Nominal

Capital.

Amount of Dividend per Share.

Rate paid per fully-paid Snare per annum.

£

s.

d.

s.

d.

October 18, 1888 ...

125,000

0

9

0

9

25,000

0

4 1/2

May 18, 1889 ....

125,000

0

9

0

9

25,000

0

5 1/2

June 28, 1890 .. ..

125,000

1

4

3

10

25,000

1

2

October 21,1890...

150,000

1

6

March 26, 1891...

150,000

1

0

June 10,1891 ....

150,000

1

4

5

0

October 24, 1891 ....

200,000

1

8

-

0

8

March 25, 1892 .....

200,000

2

0

-

0

9 1/2

June 21, 1892 . ...

200,000

1

9

5

9

-

1

0

October 25, 1892... .

200,000

2

0

-

1

7

March 25, 1893...

200,000

2

0

August 4, 1893....

200,000

1

6

2

6

March 20, 1894 ... .

220,000

1

0

-

0

5

December 1, 1894....

220,000

1

6

3

0

March 26, 1895....

220,000

1

6

July 25, 1895 .....

220,000

1

6

5

0

November 23, 1895 ...

220,000

1

6

March 21, 1896....

220,000

2

0

July 18, 1896 .....

220,000

2

0

6

6

November 21, 1896 ....

220,000

2

0

March 27, 1897...

220,000

2

6

July 17, 1897 ....

220,000

2

6

8

6

November 20, 1897 ...

220,000

3

0

March 26, 1898...

220,000

3

0

July 21, 1898 ....

220,000

2

0

5

6

November 19, 1898 ....

242,000

2

0

-

1

4

March 25, 1899...

242,000

1

6

July 21, 1899 ....

242,000

2

0

6

0

November 22, 1899 ...

242,000

2

0

March 24, 1900..

242,000

2

0

July 20, 1900 .....

242,000

2

0

6

9

November 17, 1900 ....

242,000

2

0

March 25, 1901....

242,000

2

9

July 17, 1901 .....

242,000

1

3

1

3

The Coromandel Mine

The Coromandel Mine up to the present has been sadly disappointing. The shoots hitherto worked have been very treacherous, and in depth they look as if they had given out. However, there has been a slight improvement in the yield of the ore of late, and one or two points in the mine look promising. The company has been making no returns since October, 1900, when crushing was suspended pending the further development of the mine. In the same month it was wound up and reconstructed.

The Balaghat

The Balaghat has been reconstructed three times, and whilst it has had a struggling and disappointing career, its prospects are now looking brighter, though it must still be regarded as a speculation.

The Nine Reefs

The Nine Reefs has likewise been reconstructed three times, and has not yet proved payable. The shares of this company are speculative; the same, indeed, might be said of the other mines on the Colar Field. They cannot be recommended to investors, and speculation in them must depend upon some unexpected valuable discoveries.

The prospects of the leading mines are greatly enhanced by an arrangement which they have entered into with the Mysore Government, by which the latter undertakes to provide and instal, in addition to the plant necessary for generating, transmitting, and transforming the electrical power, all conductors, motors, electrically-driven air-compressors, and other apparatus and buildings necessary for distributing and utilizing such power. Thus, in future a considerable portion of the machinery on the mines will be driven by means of electricity, the necessary power for which will be derived from the Cauvery Falls, some ninety miles from the Colar Field. This will mean greater economies in working and higher dividends in consequence.

The following table gives the monthly returns from the field from January, 1896, to August of the present year:

1896.

1897.

1898.

1899.

1900.

1901.

oz.

oz.

oz.

oz.

oz.

oz.

January . .

22,986

29,912

34,576

35,360

41,185

42,829

February .

26,968

30,420

33,060

33,898

39,238

40,764

March . .

26,171

30,807

32,986

30,312

40,674

42,727

April . .

26,866

31,425

32,780

34,546

40,774

42,038

May . . .

26,840

32,099

38,471

35,637

40,021

42,110

June . . .

25,751

32,008

35,290

36,470

39,872

41,829

July . . .

26,112

32,276

34,667

37,179

39,355

42,071

August . .

26,739

33,085

34,464

38,257

42,763

42,048

September .

27,439

33,271

34,515

38,173

41,765

-

October . .

28,161

34,864

34,764

39,795

41,834

-

November .

28,559

34,454

34,468

39,777

41,772

-

December .

29,279

35,158

35,106

40,845

44,089

-

321,878

389,779

415,147

440,249

493,342

336,416