TUCKER FLAT REPORT.

Greymouth Evening Star, Volume XXXI, 22 March 1901, Page 3

TUCKER FLAT REPORT.

The following is the Tucker Flat Gold "Dredging Company's directors' report to February 28th, 1901, to be submitted to shareholders at the annual general meeting on 27th inst.—ln presenting the balance-sheet for the period ending 28th, February, 1901, your Directors beg to report that, upon taking office, they considered it advisable to have the claim bored and prospected—the boring being necessary in order to (hid out the class of dredge and length of ladder required. Mr Chester, mining expert, had the boring done under his own supervision, and reported an average yield of 20 grains per cubic yard from the various bore holes put down,"the depth being 27 to 28'feet. Mr Chester recommended a very strong dredge to be put on, stating, "It would be very advisable that such a good claim as this should be starved by putting on a light dredge." During the year one of the dircctois (Mr Leijon) has visited the claim, and, as already advised you by circular, confirms tho opinion of Mr Chester. The Engineers, Messrs Cutten Bros., recommended a strong dredge, and have estimated the cost of a suitable dredge at nearly £9,000. Under these circumstances your Directors consider it necessary to increase tho capital of the company by the issue of additional shares, and with a view to this have issued here- ' with notions for an extraordinary general meeting of shareholders to decide upon what courso to pursue, as the present capital of the company is insufficient to provide a thoroughly suitable dredge. During tho year Mr Cook retired from tho Board, and Mr H. E. Easton was called to fill tho vacancy. Tho retiring" directors aro Messrs Somorvillo and Easton, who aro both eligiblo for roelection. Tho auditor, Mr Thomas Chalm r, also retires, but is elibible for re-election.