MOLYNEUX HYDRAULIC DREDGING CO.

Alexandra Herald and Central Otago Gazette, Issue 352, 5 February 1903, Page 4

MOLYNEUX HYDRAULIC DREDGING CO.

The annual general meeting of shareholders in the above company was held in the company's office, Alexandra, on Monday, 2nd February. Mr J. Pattison (chairman of directors) occupied the chair, and there was a good attendance of shareholders, while a good many were represented by proxy.

The minutes of last meeting were read and confirmed. The chairman, in moving the adop-tion-of the balance-sheet and report (which has already been published), said he was glad to say that' things were on the improve. The past year's operations were the most successful since the dredge commenced working. They had been able to pay 7s 6d a share in dividends, and had a reserve fund of £SOO, and he hoped that this year would be equally as good if not better. The motion was seconded by Mr Terry and carried. Moved by Mr Ross, and seconded by Mr Kelman—That Messrs Spencer and Theyers be re-elected directors.— Carried.

Messrs Spencer and Theyers returned thanks for their re-election, stating that they were very pleased indeed that the company had had such a successful year. It was now in a better position than it ever had been, and hoped that it would continue to prosper. I Moved by Mr Spencer, seconded by Mr Foxwell—That Messrs Grimstone and Young be reappointed auditors.— Carried. It was resolved that the remuneration for the directors and auditors be the same as large year. The date of the next annual meeting was fixed for the first Monday in February, 1904. In reply to a question the chairman stated that it was the intention to do more sluicing as soon as the water was available. Mr Ross moved a hearty vote of thanks to the directors for their able management of the company's affairs during the past year, and this was carried by acclamation The usual compliment to the chair terminated the proceedings.

DREDGING RETURNS. The following are the returns for the week ending Saturday, January 31st, 1903 :

oz dwt grs Golden Run, Millers Flat 82 13 0 Earnsoleugh No 2, Alexandra 118h 65 0 0 Upper Waipori, Waipori. 140hr... 5T 0 0 Roxburgh Jubilee, Roxb'rgh, 139b 54 7 0 Perseverance No. I.Alexandra.... 44 3 1 Electric No. 1, Cromwell 42 12 0 Waimumu, near Gore, 80 hours 42 12 0 Perseverance No. 2, Alexandra... 39 19 9 Matau, Clyde, 6dys ... 36 0 0 Rise and Shine, Up'er Clutha .... 36 0 0 Sneddon's Freehold, Waikaka, wk 33 0 0 Chicago, Alexandra, 1 lOhr s 32 10 0 Waikaka, Waikaka, 123hrs 31 17 0 Enterprise No. 2, Alexandra, 103h 31 0 0 Charlton Creek, near Gore, 124hs 28 0 6 Royal Waimumu, near Gore 27 14 0 Earnscleugh No 1, Alexandra 118h 26 18 0 Gabriel, Tuapeka Flat... 26 5 0 Central Charlton, near Gore, 135hr 26 4 0 Ettrick, Roxburgh, 115hrs 25 2 0 Happy Valley. Tuapeka. 6dys 24 14 0 MacCharlton, near Gore 24 12 0 Island Block, Beaumont, wk ... 24 8 0 Waikaka United No 1, Waikaka 23 10 0 Otago. Miller's Flat, 6dys 23 0 0 Enterprise No. 1, Alexandra 22 18 15 Waimumu Extended, Gore 22 18 0 Lafranchi's Freehold, Oard'na,, 22 10 0 Muddy Creek, Waikaia, 120h ... 22 1 0 Golden Bed, Miller's Flat, 125hrs 21 2 0 Olrig, Manuherikia, 127h 20 12 12 Enfield, Waipori, 20 1 u Point d'Or, Cromwell... 20 0 0 Teviot, Roxburgh, llOhrs 19 11 0 Molyneux Hydraulic, Alex'dra, 138h 18 0 0 Otago No. 2, Beaumont 16 12 155 1 Spec Gully, near Gore, 123brs ... 16 8 0 Central Mataura, Mataura, 125h 16 3 0 Globe, Waikaka, 135hrs 16 0 0 Ngapara No, 3, Nevis, ISOhrs 15 0 0 Golden Gate. Millers Flat, 6dys 14 16 0 Lawrence, Tuapeka Flat, 5dys 13 15 0 Golden Treasure, Miller's Flat, w'k 13 10 0 Waikaka Queen, Waikaka, 124hrs 13 6 0 Waikaka United No. 2, Waikaka 13 0 0 Inch Valley, near Palmeraton ... 12 6 0 Inchdale, near Palmerston, 125hrs 11 16 0 Tuapeka, Tuapeka Flat, 6dys 11 11 0 Mystery Flat, Waikaia, 11 3 15 Gold King, Roxburgh, wk 11 0 0 Waimumu Central, near Gore, 270h 10 6 0 Lady Charlton, nr Gore. 9 15 0 Coal Creek Flat, Roxburgh 7 12 0 Grand Junction, Nevis River ... 7 10 0 New Golden Gravel,Beaumont... Total for 55 dredges ... 1 7 5 0 367 9 5 Average per dredge 24 0 0 The West Coast. Nelson Creek, Westlaud 81 0 0 No Town Creek 66 0 0 Pactolus No. 1... 5S 10 0 North Beach 40 U 0 Three-mile Greenstone 39 4 0 Stony and Mosquito Lead 35 IS 0 Pactolus No. 2 85 10 0 Eriokson's Reward :*3 3 0 Kobiuoor 31 o 0 Welcome 30 12 0 Mokoia 27 9 0 Reeves's Proprietary 27 0 0 Aldiugu S3 a 11 Leviathan 20 14 0 Callaghan's ... 18 0 0 Geenstone Junction 17 0 0 New Greenstono U 6 12 Cornwall 14 0 0 Trafalgar 13 10 0 Victory 9 0 0