WEST COAST NOTES.

Press, Volume LX, Issue 11480, 13 January 1903, Page 3

WEST COAST NOTES.

(SPECIAL TO "THE TBESS.") GREYiIOUTH, January 12. The rivers, which have been running freely for this last fortnight, rose rapidly this forenoon, and are now in high flood, considerable damage being done yesterday, the only fine day for a fortnight. The work of refloating the Red Jacks Company's dredge was commenced with every prospect of. auecess this morning. However, the orneK MSB rapidly, bringing down gravel and debris* *na the dredge is now in a worse posinon than ever. The Greenstone Junction, Greenstone Creek, Nelson Creek, and Bui.or Junction Companies' dredges are all still repairing, and will possibly get a start next week. I understand that the Teremnkau Company having failed to come to any understanding" with Mr Kerch in regard to his freehold, will proceed at once with the erection of the machinery, and cut a narrow gut ou to their owr ground. Aa everything is on the ground the dredge should be ready for work in four months. The Prince of Wales Company got ISoz 14dwt for the week. The machine worked well, but the wash is poor. The Aldiiiga Company got 430z 3dwt for 130 hours' work. This constitutes a record, for the claim. The dredge is now on an excellent run. The New Greenstone Company got lloz l?dwt for the wcok just closed, and some broken time during the previous one. The bulk of the go:d is said to have been got during the last few days, so the dredge would seem to be approaching a more payable run. The directors of the Stafford-Waimea Company, realising that it is only waste of money to continue dredging with the present machine, have en'ored into negotiations with the debentureholdera of tho Great "Woodstock Company for the purchase of their dredgo. The promoters in the Stafford-Wai-tn«a Company have boon asked to surrender half of the pflid-up holdings, and these, I understand, will be given in payment for tho Great Woodstock dredge, the remaining 43 will bo called up in tho Stafford-Waimea Company, and 500 that wero hold in reserve. will be issued. With the sum thus placed at their disposal the directors expect, to be ablo to shift tho Great Woodstock dredge to the claim at Stafford.