MINING NEWS.

Alexandra Herald and Central Otago Gazette, Issue 388, 15 October 1903, Page 5

MINING NEWS.

that the Perseverauce No"3 dredge will be ready to resume work by the end of nexG week. The Ngapara No 3 dredge at Nevis has been turned and is working back towards the township to where payable I wash was previously met with. " The Earnsc'eugh No 1 dredge resumed work on Monday, after effecting some necessary repairs. The Eureka Co's No 2 dredge (! ite

Kelly and Casey) started work at : lit beginning of last week. The die !«« is working in midstream, a short <>itance above the lower boundary of the company's claim.

NGAPARA NO 3 DREDGING COMPANY. Your directors beg to submit their fourth annual repoit, balance-sheet, and statement of profit and loss account for year ending 30th September, 1903, and in doing so, regret that the profits for the year have not been sufficient to pay a dividend.

$ The strictest economy in the administration of the company's affairs has been observed, as a glance at the balance-sheet will show, and although the cash in hand exceeds the liabilities, there is very little to come and go pon. * In the early part of last season, the returns were sufficient to allow of a small profit, and had they continued, shareholders would have received at least one dividend, but for about three months before closing down for the winter, the weekly yields were barely sufficient to pay expenses, and the winter overhaul absorbed what funds were on hand.

The dredge started operations this season on the 28th September and is now distant about 250 yards from the top boundary of tbe claim, lut unless the returns improve during the next few weeks, your directors think it would be better to leave that portion of the claim unworked, and dredge back towards the township, to a point where payable gold was got when working up. The retiring directors are Messrs Charles Simonsen and Robert Boss, and Mr A. Campbell retires as auditor, but all are eligible and offer themselves for re-election.

DREDGING RETURNS. The following are the returns for the week ending Saturday, October 1Q&, 1903:

oz dwt prrs ] Hartley and Riley, Cromwell ... G79 0 0 Mannherikia, Alexandra, GShrs 143 6 0 Golden Run, Millers Hat 90 2 0 Electric No. 1, Cromwell 85 12 0 Molyneux Kohinoor, Itoxburgh .. . 83 13 12 1 Earnsclengh No 2. Alexandra 70h 56 16 0 Cromwell No. 1, Cromwell 54 1 0 Sneddon's Freehold, Waikaka, wk 54 0 0 Donstan Lead, Alexandra, 50 11 0 Perseverance No. I.Alexandra ... 46 8 6 Enterprise No 2, Alexandra 39 5 (i Majestic, Miller's Flat... 32 19 0 Moa No 2, Alexandra, broken wk 32 0 0 Bandy Point, Alexandra, 31 11 0 Waikaka United No 1, Waikaka 31 11 0 Waimnmu Queen, Gore 3; 8 0 Unity, Clyde, week ... 30 2 0 Hessey's Waikaia 30 1 0 New Half-way House, Clyde Rd 29 6 8 Golden Gate. Millers Flat, 3dys 28 15 0 Mystery Flat, Waikaia, 28 14 0 Sue and Shine, Up'er Clutha .„ 28 6 0 Happy Valley. Tuapeka. wk 28 0 0 New Xeviot, Roxborgb, 28 0 0 Enterprise No 1, Alexandra 27 3 3 Riley's Beach. Cromwell, 27 0 0 Waikaka Queen, Waikaka 27 0 0 Otago, Miller's Flat, 4dys 27 0 0 Waimnmu, near Gore, 26 8 0 Island Block, Beaumont, ypper Waipori, Waipori, wk ... 26 6 0 26 0 0 Muddy Creek, Waikaia, wk 24 15 0 Inch Valley, near Palmerston ... 23 6 (1 Bendigo, below Alexandra 23 1 12 Success, Waipori 22 18 0 Waikaka, Waikaka, I3lbrs 22 16 0 Tuapeka, Tuapeka Flat, 21 14 0 Taniwba, Tuapeka River 21 7 0 Golden Treasure, Miller's Flat,... 21 0 0 Otago No 2, Beaumont, 20 10 0 Junction Electric No 1, Cromwell, 20 4 0 Royal Waimumu, near Gore 20 1 0 Charlton Creek, near Gore 20 0 o Lady Roxburgh, Roxburgh 20 0 0 Waikaka United No 2, Waikaka 19 19 0 Ettrick, Roxburgh, 135hrs 19 0 0 Rising Son, Cromwell, 18 2 0 Golden Bed, Miller's Flat, 5dys._ 17 10 0 Chicago, Alexandra, 1291irs ... 17 6 18 Cromwell No. 2, Cromwell 17 5 0 Oceanic Steam, Waipori 16 8 0 Central Charlton, near Gore, 137hr 15 12 0 Enfield, Waipori, 15 7 0 Central Mataura, Mat aura, 15 3 0 Empire No I, Waipori 15 1 0 Inchdale, near Palmerston, . 15 1 0 Bailors Bend, Alexandra, 15 0 0 Olrig, Mannherikia, 120h 15 0 0 First Chance, Alexandra 15 0 0 Waikaka Syndicate .Waikaka .. 14 0 0 MacCbarlton, near Gore, 136brs 13 15 0 Spec Gully, near Gore, Reliance, Tuapeka Flat 13 5 12 3 0 0 Gabriel, T uapeka Flat... 11 0 0 Matau, Clyde, week ... 10 0 0 Ngapara No 3, Nevis, 220hrs .. 9 9 0 Golden River below Alexandra.. Davis Bend No 2, above Clyde .. 9 2 0 . 7 1 0 Lawrence, Tuapeka Flat, b'dys 6 10 0 jjew Alpine Consols, Cromwell, Total for 71 dredges 6 6 5 2681 S 1 Average per dredge 37 0 0