Correspondence, Printed Papers and Newspaper Cuttings Relating to the Persian Bank Mining Rights Corporation Ltd [‎274v] (592/586)

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The drilling for petroleum at Daliki, which was stopped during the hottest months was
recommenced about the middle of October, and by the 16 th November the bore had been deepened
227 feet, to a total depth of 1,230 feet. Boring will continue here for a month or so longer. So far no
oil of commercial value has been found, but Captain Kmentt considers that the indications justify further
boring for a short time. Meanwhile he has left for Kishm Island, where it is believed he has already
commenced boring. The specimens of oil from this locality have been pronounced by an eminent
English expert to be of a very promising character.
The machinery for the Gurkhani Copper Mines has only now reached the spot, and is being
erected. The report of Stenlake, a practical copper miner, as to the quality and quantity of the ore
is favourable.
The search for Cinnabar by Mr. Ferguson and his assistants in the Afshar district has been
carried on energetically. At Kiz Kapan the shaft has been taken down 85 feet, and a length of gallery driven
185 feet. At Zarshuran, six trial shafts have been sunk and nine trial galleries have been driven. The
Engineer considers that there is no doubt as to the existence of Cinnabar ore. He writes—“ The vein can
“ be traced without any difficulty along a length of a mile or thereby, and there is hardly a spot along this
“ distance where Cinnabar in little pieces may not be obtained by washing.” Specimens which have been
sent to London have yielded respectively 51’30 and l jo , e ) S per cent, of mercury. The works have been
temporarily stopped owing to the snow; Mr. Ferguson hopes to continue them in a month.
In the Borax industry, Mr. Winklehner commenced operations in the Kerman district on the
20 th July last, and has been producing the Borate of Lime since then at a fairly progressive rate ; the first
shipment of about 70 tons is daily expected to reach London. The Directors have reason to hope that
this industry may attain large proportions and be profitable. It will only be limited by the transport
available, but, as the trade develops, this may be expected to increase. The extent of the deposit was first
estimated by Mr. Stahl at 300,000 tons, but the further examination of Mr. Winklehner results in an
estimate of double that amount.
i :•! '
The result of the first year’s coal mining in the neighbourhood of Teheran has been disappointing ;
but General Houtum Schindler, the Chief Agent of the Corporation, estimates that at the end of this
season, the loss will be reduced to a trifling amount. A briquette machine to utilize the small and dust
coal is now on its way from Bushire.
With reference to the Balance Sheet which shows the whole expenditure of the Corporation
since its formation, it may be noted that four out of five lakhs One lakh is equal to one hundred thousand rupees of Indian Securities have been sold,
and the entire balance of the debt to The Imperial Bank of Persia will be liquidated on the 15 th
December.
The Directors who retire under Article 75 of the Articles of Association are Sir Lepel Griffin,
K.C.S.I., and Baron George de Reuter, who being eligible, offer themselves for re-election.
The Auditors, Messrs. Deloitte, Dever, Griffiths, & Co., offer themselves for re-election.
By order of the Board,
LEWIS HAMILTON,
Secretary,.
Q
H
^th December, 1892 .
PERSIAN PANE MINING RIGH l S CORPORA I ION,