GOLD DREDGING.

Greymouth Evening Star, Volume XXXI, 16 February 1901, Page 2

GOLD DREDGING.

Ford’s Creek dredge up to the present has done no good, the yield being practically nil. Disappointment is expressed at the dredge being so long kept close into the bank among loose drift boulders and logs. The latter got so bad that the dredge could not proceed further. The machine was then turned more out into the river, and is now cutting her way better. It is expected to get into ground next week between Ford’s and Blackball Creeks where rich gold was got in the early days. The place the dredge is now making too is where she should have started. The machinery is working well.

Shares in the Nelson Creek Gold Dredging Company have advanced 11/during the present week and are now quoted at 77/-. This would seem to indicate that a good return is expected to-night. Shares in the Mosquito Gold Dredging Company have also advanced 7/- during the last ten days. The Humphrey’s Gully Company have about sixty men employed on the claim on various contracts. It is expected that the water from the Arahura River will bo brought down to the claim within tin next three weeks.

Those who are in the “know” seem to be very sanguine that the necessary capital of £50,000 will be raised to drain the Ross Plat. The Government give a subsidy of £15,000 and it is understood that a gentleman who is interested in the option from the Ross United Company proceeds to London next month with the object of procuring the remaining £35,000. The engineers and workmen on the Greenstone Junction and Greenstone Creek, are pushing hard to got their respective dredges to work first. It is generally thought the J unction men will win ; both companies should commence work in about 14 days. The directors of the Kohinoor Extended G. D. Co., have issued a circular to shareholders embodying Mr D. Brigan’s special report on the property, and also including a report from Mr Anderson, late master of the Totara dredge. The reports are very satisfactory. A Christchurch telegram states that the Hokitika River G. D, Coy have appointed J. Tough dredgomaster. The dredges working in New Zealand last year won gold to the value q£ £262,000 or about 38 per cent of tho / ‘ Colony’s output.