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FINANCE - BACARES

See also:
The Granada Railway
The Hornillo Company
The GSSR
The related Bilbao companies
The Manila Railway Company
The Seville Tramway Company

The Bacares Iron Ore Mines, Limited was the creation of Gustave Gillman due to his tireless efforts in London encouraging capitalists to invest in the iron ore mines of Bacares and Las Menas. He brought investors and technicians over to Spain to view the iron ore deposits so that on 25th May 1899 the Bacares Iron Ore Mines, Limited was formed. Gustave became the manager of the mines as well as running The GSSR from Águilas Station. See also The Mines.

Below are the verbatim reports from the Stock Exchange Year-Book and the press.

NOTE: the text has been copied exactly, including some unusual punctuation. With regard to the Stock Exchange texts, they are taken from yearbooks, so the year shown is one year greater than the year of the actual report.

DATESTOCK EXCHANGE REPORT

1908

Bacares Iron Ore Mines, Limited.-Directors: J.C. Cuninghame (Chairman), Sir J.E. Johnson-Ferguson, Bart., and R. Russell (Managing Director). Secretary: W. Girdwood. Office: 32, Victoria Street, S.W.-The company was registered May 25, 1899, to acquire properties in the Bacares district, Province of Almeria, Spain. The authorised capital is £135,000 in shares of £10, all of which has been subscribed and paid up, and there are debentures for £47,500. Reports are not published, but this information is official. Voting power, one vote for every share. Director's qualification, 100 shares. Transfer form, common; fee, 2s 6d. Telegraphic address, Nettoyage, London. Telephone number, 160 Victoria.

1909

Bacares Iron Ore Mines, Limited.-Directors: J.C. Cuninghame (Chairman), Sir J.E. Johnson-Ferguson, Bart., and R. Russell (Managing Director). Secretary: W. Girdwood. Office: 32, Victoria Street, S.W.-The company was registered May 25, 1899, to acquire properties in the Bacares district, Province of Almeria, Spain. The authorised capital is £135,000 in shares of £10, all of which has been subscribed and paid up, and there are debentures for £20,000. Reports are not published, but this information is official. Voting power, one vote for every share. Director's qualification, 100 shares. Transfer form, common; fee, 2s 6d. Telegraphic address, Nettoyage, London. Telephone number, 160 Victoria.

1910

Bacares Iron Ore Mines, Limited.-Directors: J.C. Cuninghame (Chairman), Sir J.E. Johnson-Ferguson, Bart., and R. Russell (Managing Director). Secretary: W. Girdwood. Office: 32, Victoria Street, S.W.-The company was registered May 25, 1899, to acquire properties in the Bacares district, Province of Almeria, Spain. The authorised capital is £135,000 in shares of £10, all of which has been subscribed and paid up, and there are debentures for £20,000. Reports are not published, but this is official. Voting power, one vote for every share. Director's qualification, 100 shares. Transfer form, common; fee, 2s 6d. Telegraphic address, Nettoyage, London. Telephone number, 160 Victoria.

1911

[Same as 1910]
Bacares Iron Ore Mines, Limited.-Directors: J.C. Cuninghame (Chairman), Sir J.E. Johnson-Ferguson, Bart., and R. Russell (Managing Director). Secretary: W. Girdwood. Office: 32, Victoria Street, S.W.-The company was registered May 25, 1899, to acquire properties in the Bacares district, Province of Almeria, Spain. The authorised capital is £135,000 in shares of £10, all of which has been subscribed and paid up, and there are debentures for £20,000. Reports are not published, but this is official. Voting power, one vote for every share. Director's qualification, 100 shares. Transfer form, common; fee, 2s 6d. Telegraphic address, Nettoyage, London. Telephone number, 160 Victoria.

1945

Bacares Iron Ore Mines, Limited. Custom House & Wood Quays, Lower Thames St., E.C.3. (Telegrams: Ironorebac Bilgate London. Telephone: Mansion House 1555.)
Directors:-Maj.-Gen. W.H. Grey C.B., C.M.G. (Chairman), H.D.S. Blyth, William Girdwood F.I.C.S. Secretary-D.S. Girdwood.
Registered 25 May 1899. Resolutions to wind-up were passed on 2 July 1940, but on 12 Dec. 1941 liquidation was stayed and company resumed business on 16 Mar. 1942. Owns iron-ore mines in the province of Almeria, Spain.
Capital-Authorised and issued £108,000, in shares of £8, fully paid; all are privately held. In 1930 the capital (authorised and paid up) was reduced from £135,000 to £108,000 by repaying £2 per share and reducing the nominal amount of all shares from £10 to £8.
Loan capital-Directors can borrow up to £100,000 plus for temporary purposes an unspecified amount.
Accounts to 30 June submitted in Nov. Latest dividend-5% actual in Dec. 1930.
Debit balance forward at 30 June 1944 £91,155 (1943 £88,375). Reserve account £10,405. Loans (liability) and accrued interest £54,701 (£44,157 secured on whole undertaking and assets).





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