MINING NEWS.

Alexandra Herald and Central Otago Gazette, Issue 448, 17 November 1904, Page 5

MINING NEWS.

£ The Clyde dredge is still undergui..» -/ r3 pars, hut the manager expects t resume dredging in a few day* The F iurt en-mne started dredging at the beginning of the week. The Manuherikia is undergoing an extensive overhaul. Messrs A. and T. Burt advertise for a certificated dredgemasterfor Burmah Towo experienced winchmen are also requited. Mr J. Sanders has been appointed manager of the M*tau dredge. The Loch Lomond, on the Fraser river, obtained 270z 6dwt last week. We understaud that this is the record return from this dredge. The Alexandra Lead made a start last week, anHcr the management of Mr C Simonsen. She is operating on old ground, which has to be treated to allow her to take a cut into the bank. Both the Perseverance dredges resumed work at the beginning of the has been floated to work the the Rising Su£ on the Clutha River. fc»»W Maori dredge has been purchased, and M soon as a manager is appointed, she will be dropped down stream to her ne vf claim. NGAPARANO 3 GOLD DREDG--IXQ COHPAJTSr, LOTTED.

The following is the directors annual report of the above company, to be submitted at the annual meeting on the 28th inst: ¥oar directors beg to submit their fifth annual report, balance-sheet and statement of profit and loss account, for the year ending 30th September, 1904, and m doing so, regret the position of the Company, the reason for which can be easily ascertained by a glance at the total amount of gold won for the year, and it is only by exercising the most rigid eoonomy tnat the position is not worse. When the last annual report was presented to you, the dredge was working towards the top boundary of the claim, with the object of testing that part, but the ground became so boot that it was necessary to turn back; and when the dredge closed down for the wmter she was not far from where good payable returns were obtained when working up, and your directors decided to endeavour to borrow sufficient money on the set curity of the Property to give it another trial. The financial arrangements are now almost complete, and W ben the necessary documents are executed, repairs to the dredge will be JJono on with and a fresh start made as -non as possible. . In conclusion your directors wish to assure shareholders that their best ggbrts will be directed towards bringing the Company through its present difficulties. You will be asked to fill two vacan«es on the Board, occasioned by the recent of Mr Robert Gunion by rotation, and the "Sigjmfaon of Mr Bobt. Crawford. The auditor, Mr A. Campbell, also retires, but offers himself for re-election.

DREDGING RETURNS. ozdwtgr Otaeo No 2, Beaumont .- 79 10 0 SSWhurgb Jubilee ... 56 12 0 Bun. Millers Kat ... 53 10 0 Waikaka Unitea mo i, »duu»» Roxburgh, Roxburgh .- Sun. Uppex Outha ... 5rT7 ovmhtitp Flat,... ' 41 16 0 40 12 0 37 0 0 Golden Treasure, ™^"°■*■ • Central Charlton, near Gore .. Golden Bed, MiUers Fla* Muddy Creek, Waikaia ... Enterprise No 2, Alexandra ... 35 15 0 33 14 0 32 10 0 31 15 9 Upper Waipori, Waipon ... Wa&a Syndicate. Waikaka... £ocb Lomond, Fraser River Waimumu, near Gore ... Masterton, Waikaia «. ... 28 5 0 28 0 0 27 10 0 24 12 0 23 0 0 21 14 0 21 6 0 Rise and Shine No 2, Cromwell Charlton Creek ttagwfc' Wood. Waikaia ... Waikaka United No 2, Waikaka Taniwha,Tuapeka River . Golden Beach, Alexandra, 3dys - . _j., u n i Alexandra ... 21 0 0 19 13 0 19 13 0 . 19 5 0 18 12 0 17 6 0 Enterprise «o i, Gabriel, Tuapeka Flat Bttrick, Roxburgh HesseVs Waikaia .- — T?!i«»tric No 2, Cromwe 16 3 0 15 0 0 14 4 0 11 10 3 0 Waikaka, Waikaka Olrig, Manuherikia HacCbarlton. near Gore BectricNo2, Cromwell Otaeo No 1 __ _ 8heddon's Freehold. Waikaka...^ SoUl 10 3 0 10 0 0 10 0 0 9 10 6 10 6 5 0 0 992 10 21