MINING NEWS.

Alexandra Herald and Central Otago Gazette, Issue 357, 12 March 1903, Page 5

MINING NEWS.

The river was about 6ft above the ** normal" mark at the Alexandra bridge last evening, with a downward tendency. An exami :ation for engine-drivers certifica:es will be held at the Courthouse, Alexandra, on Thursday, 2nd April. The Monte Christo dredge has been dropped back to the middle of her claim, having failed to strike payable wash where she was lately working. The Inspector of Machinery is at present making bis annual inspection of dredge boilers, and in consequence the dredges have not been able to put in full time. The work of lengthening the ladder of the River Blolyneox Co 's dredge is to be put in han<i forthwith. The work will be carried out by Messrs A. and T. Burt. Messrs A. and T. Burt's men are at present engaged in rivetting and fittim?up a pair of auxiliary pontoons on the bows of the First Chance dredge This is necessary in order to give the hull increased buoyancy, to take tte extr* weight caused by the additions made to the ladder. The New Bendigo dredge is still lying moored above the- Alexandra bridge. The Moa No. 2 dredge is working steadily. The Alexandra Lead dredge is working near the middle of her claim, and is taking up a cut on the eastern side of the river. The drift is very troublesome at present. The Coronation Co.'s dredge is working steadily, but has not yet got her paddock properly opened out. Mr Chas. Allen has been appointed dredgemaster of the Ngapara Extended dredge, vice Mr Gregor M'Donald (resigned). The secretary of the Stafford- Waimea Company informs us that the dredge resumed work on Thursday last,, after a short stoppage. The dredge will not wash-up till Monday next. The No. 3 Earnscleugh dredge is working steadily, and is gradually getting a paddock opened up. The electric plant continu s to work splendidly. The No. "2 Earnscleiigh dredge resumed work on Monday'last, after a .'.fortnight's stoppage,'caused by the breaking Jof the elevator spur wheel. t ; The No. 1 dredge is working steadily. For /our weetcs in February the great Waihi m:ne treated 18,699 tons of ore for £53,641, exceeding all pre - vious-returns. The bullion won so far

-totals £2,605,55*, "of which £1,065,596 ■ has been reimbursed to shareholders in dividends and interest payments. The quantity of gold won by the Davis Bend dredge from the commencement of operations until the end of last year was 7650z Odwt 6gr, valued . at £2915 19a Bd, and the expenditure for the whole year was £4526 18s 3d, , while the. total outlay from the formi- , tion of the company until the end of . December was £5119 3s. At the close of the year the company hag. £847 14s 4d in cash, against which there I were liabi.ities to the extent of £192 ■ 2-i 6d, and contingent liabilities amounting to £4l 2s lid. In consequence • of the directors securing the Cairnmuir dredge at a reasonable price, the ' capital of the company has been called • up to only 8s per share, but some share- ' holder* 'have not met their obligations, as 1300 share.- have been forfeited. Of > these, however, 100 have since been sold.

OLD JDUNSTAN G. D. CO. The following circular. has been issued, to shareholders in the abovenamed company:— • The proposition submitted to you in circular dated the 14th February current, having been, carried at the extraordinary meeting of shareholdersheld >n the company's office, .Clyde, on the 28th February—that is to Bay — That the companv be reconstructed with a capital of £4,500 in 4500 shares of. £1 e»ch (2250 contributing and 2250 paid-up—one paid-up share to be' given for each share subscribed). I now herewith hand, you form of application for sharesj-which I will ask you to return to me not later than Saturday, the 14th day of March. Fifteen hundred shares or over being applied for, the directors wil at once proceed to allotment, bat any less number being applied for nothing remains but liquidation, which will be much regretted, the directors, Messrs M'\rthur, Barry, and Wilkisor. conscientiously believing the compan - 's property, consisting as it does of a dredge and plant and two claims, to be payable. It rests with you, therefore, to say whether the inevitable liquidation is to take place, and thus the Old Dunstan killed, or whether new life is to be instilled into it. In the event of not sufficient shares being applied for the full amount of application money will be returned.

DREDGEMEN S AWARD. "« A difference of opinion has arisen over the interpretation of the award recently eivt-n by the Arbitration Court, in the Diedgemen's Dispute, with respect to clause 6, which reads thus : —"All shifts shall go round, except on the M olyneux and Kawarau, in "respect to the engineer and firemen, and in such case the keeping of the engineei on day shift is a matter to be determined by the dredgemaster." The question at issue is whether or not the winchmen are to have round shifts, and the following interpretation of clause 6 has been received by the secretary of the Dredgemen's Union from the President of the Arbitration Court:— " The question submitted to the Court for it* decfchrti by the par tfea in

this matter arise in clause 6 of tbe award. The Otago and Golden Treasure are dredges working at Miller's Flat; and the dredgemastere contend that tbe clause in question does not entitle wincbmen to their round shift. The clause is clear and definite it its terms, and is incapable of any other meaning than that the only class exempted are the engineers and fiiemen on the Molyneux and Kawarau. In this respect the Court followed the recommendation of the Board of Conciliation, which is also clear and precise in its terras When the matter was before the Court th« only contest was whether the shifts of the engineers and firemen should go round, the Union objecting to the Board's recommendation in that respect, and the employers supporting it. It was never suggested at the hearing that the exception to the rule set out in the Board's recommendation should include wincbmen, and the Court excepted only engineers and firemen. Our answer is that the shifts must in respect to the winchmen employed on these dredges go round. The award is incapable of any other meaning?'—Theo. Coopeb, President.

DIVIDENDS The following dividends were declared during the last fortnight : Matau Dredging Co., Is per share. Upper Waipori Alluvial (Jo., 2s per share New Golden Gravel Co., 2s per share Mokoia Dredging Co. t Is per share (ordinary shares), and Is 3d on preference issue Deep Stream Hydraulic Company, Is per share. y . . . DREDGING RETURNS. Tbe following are the returns for the week ending Saturday, March 7.th, 1903 :

oz dwtgrs Cromwell No 2, Cromwell g. • -95 3 0 Roxburgh Jubilee; Roxb'rgh, 135h 7017 6 Rise and-Shine, Up'er Clutha ._ fi3 2 0 Enterprise No 1, Alexandra ' 46 io(l Enterprise No ",' Alexandra .;. 45 10 0 Empire, Waipori [2 dredges) ... 44 0 12 Electric No. 1, Cromwell 44 0 0 Dunstan Lead, Alexandra 40 4 0 Upper Waipori, Waipori.140br... 38 0 0 Waikaka, Waikaka, 132hrs 33 1 0 Golden Gate. Millers Flat, 6dys 32 16 0 Royal Waimumu, near Gore 31 11 0 Perseverance No 2, Alexandra... 30 10 0 ;Teyiot, Roxburgh, 63hrs •--. - .... 30 4 Q "Happy-Valley. Tuapekai fidys | g 29 13 0 Oairotrbdlfe, Poblburn, 136hrs'' '-.- -28 r 0 Earnscleugh No 1, Alexandra 135h 25 10 0 Sheddon's Freehold, Waikaka, wk 25 0 0 Matau, Clyde, 57hrs ..; 25 0 a Central Charlton, near Gore.- 129hr 25 0 0 Lawrence, Tuapeka Flat, 6dys ; 24 10 18 Otago No 2, Beaumont 23 10 0 Muddy Creek, Waikaia, 120h ... 22 0 0 Waikaka Svndicate, Waikaka ... 21 0 0 Cromwell No. 1, Cromwell 20 13 0 tfolyneux Hydraulic,Alex'dra,133bl9 14 0 Olrig.Manuberikia, 126h ; ... 19 14 0 Grand Junction, Nevis River ... 19 0 (! Waikaka United No 2, Waikaka 18 19 17 Ngapara No. 3, Nevis 18 13 0 Inch Valley, near Palmerston ... 18,0 0 Waikaka United No 1, Waikaka 17 16 0 Enfield, Waipori, .."; : 17 14 0 Island Block, Beaumont, 17 8 0 Prince Arthur. Shotdver '. ... 17 3 0 Golden Bed. Miller's Flat. 128hrs 17 0 0 Globe. Waikaka, 132brs 16 6 0 Gabriel," TuapekaFlat... 16 6 c Reliance. Tuapeka Flat 16 0 0 MacCbarlton. near Gore 15 5 0 Ettrick, Roxburgh, 77hrs 15 0 0 Mystery Flat, Waikaia, 14 5 0 Charlton Creek, near Gore, 133hs 14 0 0: New Golden Gravel,Beaumont... 13 13 0 Waimumu Extended, Gore 13 10 0 Waikaka Queen, Waikaka, 127hrs 13 0 0 Gully, near Gore, 136hrs ... 12T15 0 Waitahuna, Waitahuna, week 12 14 0 Success, Waipori 12 3 18 Central Mataura, Mataura, 95h 11 10 0 Waimumu Queen, Gore 11 1 0 Clvde, Alexandra, 11 0 0 Golden Treasure, Miller's Flat, w"k 11 0 0 ' Riley's Beach. Cromwell; 10 16 0 Waimumu Central.near Gore,270h 10 15 0 Lower Enfield, Waipori, 169hrs 9 8 ( New Paul's Beach, Beaumont ... 9 3 0 Lafranchi's Freehold, Card'na,, 8 6 12 Champion, Beaumont, wk ... Total for 60 dredges ... ] 6 6 0 14Q0-.1G 11 Average per dredge ' 23" 0 0 The West Coast, Buller Junction ... 84 0 0 North Beach 70 0 (1 PactolusNo. 2 r ... 42 5 0 Mosquito. : . 1 ", •' -- 40 0 0 Feddersen ... 34 0 0 Mokola ; ; "... .1 33 8 0 Three-mile Greenstone 29 0 0 Eohinoor 28 0 0 Aldinga -. ._.- »•• 25 9 0 Nelson Creek, Westland *6 0 0 Erickson's Reward " -v.. 24 3 0 Black water River 23 15 0 Shellback 19 2 (• Greenstone Creek i ... 18 8 0 Prince.of Wales ;;... 17 0 0 Blackwater Lagoons .. . * .. 17 0 0 Victory 15 17 0 Reeves's Proprietary 11 6 0 Leviathan 10 16 (1 Greenstone Junction 9 '8 0 1 Commissioner's Flat ... * Total 5 12 0 583 9 0