Correspondence, Printed Papers and Newspaper Cuttings Relating to the Persian Bank Mining Rights Corporation Ltd [‎270v] (584/586)

Mr. Allahverdiantz, another petroleum expert who has already prospected the oil-bearing regions of
Loristan, has been deputed to examine carefully the prospects of petroleum-boring on the Kishm Island in
the Persian Gulf The historical term used to describe the body of water between the Arabian Peninsula and Iran. , regarding which Mr. Winklehner has already made a preliminary report. Without more
precise information the Board do not feel justified in sending boring machinery to Kishm, the position
of which, as regards shipping facilities, is excellent.
The copper deposits of Khorasan appear to be most extensive and valuable. Some of the mines are
the property of the Corporation under the concession, others belong to private individuals or are leased to
them, and special arrangements for working the latter are necessary. Mr. Ferguson, an engineer well
acquainted with copper mining in Spain, has sent an elaborate report on them, and estimates that they
may be profitably worked. His report has been submitted to an eminent firm of mining engineers in
London, who recommend preliminary operations for pumping and testing the amount of copper ore
available. Machinery and appliances, on the smallest scale compatible with efficient testing, are now
being prepared, and will be despatched with working miners in the course of a month.
Mr. Ferguson has lately been employed in searching for quicksilver in the district west of Zenjan. He
has put down numerous shafts and has found many specimens of native mercury. He has formed a very
high opinion of the value of the district for mercury, but has been compelled to suspend operations pending
the arrival of further mining appliances.
Coal of good quality is being worked by the Corporation in the hills north of Teheran, and General
Schindler reports that the business will be profitable. An elaborate report on coal measures believed to
underlie the Teheran Valley has been received, but the depth of the strata is so great that the Board do
not believe that it will pay to work this coal.
Mr. Winklehner is now engaged in examining and testing the deposits of borax and asbestos in the
Kerman district already reported on by Mr. Stahl. Both minerals have been found in considerable
quantities, and several tons of each, sufficient to test their value on the London market, are shortly expected.
The operations of the Company must of necessity be slow, and the nature of the country has placed
many obstacles in the way of prospecting work. The system adopted has been to first prospect the most
promising and accessible portions of the country, the reports being regularly sent to England. When
each prospecting tour is finished, another engineer is despatched to furnish further and confirmatory reports
before any steps are taken to send machinery and workmen from England.
The health of the staff has been generally good, though fever has troubled the engineers in Southern
Persia, and the Board much regret to have to report the death of Mr. William Bird, an engineer of much
promise.
Mr. Ezekiel, a most valuable member of the Board of Directors, has resigned, owing to considerations
of health. His place has not yet been, filled up.
Under Rule 75 of the Articles of Association regarding the rotation and retirement of Directors,
Mr. W. Duff Bruce retires from office, and, being eligible, offers himself for re-election.
The Auditors, Messrs. Deloitte, Dever, Griffiths & Co., offer themselves for re-election.
By order of the Board,
LEWIS HAMILTON,
Secretary.
H
u
H
2
H
J
i
0
M
C
C4
0
H,
&
0
0
(/)
h
0
l-H
e*
0
z,
£
1—1
§
0 )
CO
i
a
L
+J
(/:
cc
t-
IJ
i
N
t
v
l-H
£
<
CQ-
£
<
1 —<
in
c*
28th October, 1891.