MINING NEWS.

Alexandra Herald and Central Otago Gazette, Issue 382, 3 September 1903, Page 5

MINING NEWS.

The r'ver has continue 1 to fall steadi y during the week, the height last evening being about 3tt lOin above the " normal " mark. The Bendigo dredge is working steadily towards the eastern side of the basin, and i* operating on good wash. The Fir>t Chance dredge resumed work at the middle of last weefc, and is working steadily. The Alexandra Lead dredge stopped last Saturday for the purpose of putting on a new screen, and effecting some small repairs. This work will take about a fortnight. The coal road leading from the main road to the top of Butchers Hill (from which point several dredges in the gorge are getting their coal) is in a rather bad state of repair after the recent frosts. No doubt, however, the County authorities will take early action in the matter of having necessary repairs attended to. The returns from the Moa dredge for some time past have been somewhat disappointing, as it was generally believed by local dredging men that good wash existed in the portion of the river contained in the bridge reserve, on which the dredge has lately been operating. This stretch of the river appears to be practically barren of payable wash, and the dredge is now working on a bare reef. Last Saturday's wash-up yie ded only Boz. Mr E Knewstubb, the contractor, has commenced the work of erecting the Loch Lomond dredge on the Fraser River. At the annual meeting of the First - Chance Company held at Dunedin on Friday last, the chairman stated that owing to the difficulty in getting a start this year the company had gone back somewhat, and they were now something ouer £6OO in debt, so that unless some gold was won very soon the directors would have to see about raising additional capital to enable them to carry on until next winter. The retiring directors (Messrs Kyle and Shrimpton) were re-elected. Mr J R Biker, dredgemaster of the Davis Bend No 2 dredge, has been appointed to a similar position on the Perseverance Co's No 2 dredge. Mr W Bringans, for some time employed on the Perseverance dredge, has been appointed dredgemaster of the New Golden Beach Company's dredge. The Monte Christo dredge resumed work at the beginning of the week. The following items are from the "Mt Benger Mail":—The Teviot dredge made a start on Wednesday at the bottom end of her claim, just at the back of Mr WetheralTs property. She is working into the west bank.— The Melba dredge has been closed down for the season owing to the high river. —»The Lady Roxburgh is working steadily, but the ground is very poor at present.—The Endeavor dredge is still working away at the mouth of the gorge below the bridge, but so far has not struck wash. v Water now being available, stripping operations were commenced at the lower end of the Molyneux Hydraulic Go's claim on Monday. As soon as a sufficient area is stripped of the overburden the dredge will recommence work. The Sailor's Bend dredge resumed work at midnight on Sunday. The Golden River dredge had a -stoppage at the end of last week, owing to a small breakage in the winch gear. Repairs were executed at the Alexandra foundry on Friday, and the dredge resumed work at midnight on Sunday. It was expected that the Fourteenmile Beach Co's new dredge would be at work by to-day. The Ngapara No 2 Ob advertise for an engineer and blacksmith for their dredge at Nevis. DUNSTAN LEAD COMPANY. The fifth annual meeting of the above company was held at Dunedin last Friday, and was well attended. Mr A Siigo, who presided, in moving the adoption of the report and balancesheet, referred particularly to the liability of over £3OO apiece which had been hanging over the directors at the last annual meeting, but which they bad since got rid of. If the directors had not come forward and undertaken that liability compulsory liquidation would probably have followed, because he did not think the shareholders would have found the money necessary to carry on. The directors had every faith in the claim, and did not wish to see any shareholder squeezed out. The company had done a good deal more than turn the corner during the year. Liabilities amounting to more than £I6OO had been wiped off, and the sum of £1748 14s had been paid by way of dividends. At present the claim and dredge were free from liability, there was a reserve of £SOO, and between £450 and £SOO to the good in addition. He hoped that before long the directors would be able to inform shareholders that another dividend was payabla The results he had referred to bad been accomplished by steady plugging, without any sensational returns, and during an unfavorable dredging season. Since the dredge resumed operations about the middle of February last the returns had reached an aggregate of 1,3890z, of the value of about £5,381. The returns for the previous financial year reached an average of 340z lddwt per week, while the average so far for the present calendar year was nearly 50oz per week. Some time, would, however, be least during the year. The dredge had been operating in very little solid lately, and almost all the gold won had been obtained from old tailings ; but they expected to meet with • fern »!&«miHi & fetar* AW

siderable quantity of buckets and other material had been obtained for the dredge at a very low rate, and as they had not yet been used the expenditure for renewals should be small for some time. The speaker concluded by referring in terms of high praise to the services rendered by the dredgemaster and his crew. The report and balance-sheet were adopted. The retiring directors (Messrs H F Nees and J O Thomson) were reelected. A bonus of £25 was voted to Mr D Bringans, the company's dredgemastei, for his untiring attention to his duties, and his thorough identification of himself with the company's interests, one of the directors affirming that the company had the best dredgemaster on the river. DIVIDENDS. The following dividends have been declared during the week: Unity Dredging Co., Is per share. Hartley and Riley Dredging Co.. 5s per share New Paul's Beach Dredging Co, Is per share. Tuapeka Dredging Co., 2s per share.

DREDGING RETURNS.

The following are the returns for the week ending Saturday, August 29th, 1903:

oz dwtgrs Hartley and Riley, Cromwell ... 342 0 0 Electric No 2, Cromwell 132 15 0 Mannherikia, Alexandra, 90hrs 60 12 12 Cromwell No. 2, Cromwell ... 60 8 0 Cromwell No 1, Cromwell 54 2 0 Alexandra Lead, Alexandra, ... 54 0 0 Perseverance No. 1, Alexandra ... 48 0 0 Roxburgh Jubilee, Roxb'rgb, 138h 47 10 0 Dnnstan Lead, Alexandra, 8dys 46 18 0 Enterprise No 2, Alexandra 46 5 0 Electric No. 1, Cromwell 45 6 0 Bendigo, below Alexandra* ... 45 0 (1 Sandy Point, Alexandra, 43 17 12 Waimumu Queen, Oore 37 17 0 Rue and Shine, Up'er Olutha ... 37 16 0 Unity, Clyde, week ... 34 15 0 Upper Waipori, Waipori. wk ... 34 0 0 Sneddon's Freehold, Waikaka, wis : 34 0 0 Mystery Flat, Waikaia, 31 16 0 Molyneux Kobinoor, Roxburgh .. . 31 0 0 Enterprise No 1, Alexandra ... 30 16 13 Hessey's Waikaia ... ... 30 11 0 Waikaka United No 1, Waikaka 27 12 0 Junction ElectricNo 1, Cromwell, 26 10 0 Waikaka Queen, Waikaka 25 17 0 Muddy Creek, Waikaia, wk 25 1(1 0 Golden Treasure, Miller's Flat,... 25 0 0 Cairntrodlie, Poolburn, 205hrs ... 25 0 0 Waimumu Extended, Gore 24 0 0 Empire No I, Waipori 24 0 0 Majestic, Miller's Flat... 23 16 0 Junction Electric No 2, Cromwell 23 11 0 Earnscleugh No 1, Alexandra, 13lh 23 6 0 Waikaka, Waikaka, 131hrs 22 12 0 Success, Waipori 21 1 9 Ma tan, Clyde, broken week 21 0 0 Tuapeka, Tuapeka Flat, 21 0 0 Central Charlton, near Gore, 138hr 20 18 o Inch Valley, near Palmers ton ... 20 14 0 Chicago, Alexandra, 115hrs ... 19 16 12 Waimumu, near Gore, 19 15 0 Island Block, Beaumont, 19 11 0 Charlton Creek, near Gore 19 10 0 Golden Bed, Miller's Flat, 5dys._ 19 2 0 MacCbarlton, near Gore, 136hrs 18 13 0 Gabriel, Tuapeka Flat. 17 13 0 Taniwha, Tuapeka River 17 1 0 Waikaka Syndicate,Waikaka ... 17 0 0 Reliance, Tuapeka Flat 16 14 0 Perseverance No. 2, Alexandra... 16 13 0 Lady Roxburgh, Roxburgh 16 8 0 Lawrence, Tuapeka Flat, 6dys 16 6 0 Enfield, Waipori, ... ..: 15 13 0 Royal Waimumu, near Gore 15 10 0 Central Mataura, Mataura, 14 16 0 Inchdale, near Palmerston, 14 3 0 Golden Gate. Millers Flat, 6dys 13 1 0 Davis Bend No 2, above Clyde ... 12 0 0 Spec Gully, near Gore, 11 0 0 Moa No 2, Alexandra, 8 0 0 Olrig, Mannherikia, 62h 7 13 0 Globe, Waikaka, I28hrs 6 0 0 Lower Enfield, Waipori, 4 11 0 Total for 47 dredges ! 2087 2 10 Average per dredge 33 0 0