GOLD DREDGING.

Greymouth Evening Star, Volume XXXI, 11 April 1901, Page 2

GOLD DREDGING.

Latest information from the dredgemaster of the A 1 Company’s dredge is to the effect that operations should commence about the 18ih inst. The party boring on the claim of tho Auckland syndicate situated next to Passmore’s claim on the Tereraakauriver, says tho Kumara ‘ Times, ’ are down 40 feet without a sign of bottom. The Prince of Wales Company have accepted Mr W. Pcerson’s tender for tho building of tho pontoons for their dredge. The Grey River Extended Company have four men boring about a chain above the Wallsend-Taylo.rville footbridge, and one day last week were down about live feet with their first bore holeThe secretary of tho Greenstone Creek Gold Dredging Company on Saturday received the following telegram from tho dredgemasterßottomed yesterday morning. ”

Arrangements have been completed for tho commencement of boring operations on the Saltwater Crook Company’s claim. In the annual report of the directors oj the Golden Grey Gold Dredging Company, they state that arrangements have been made to have tho claim prospected by boring, and they hopo to be able to lay tho expert’s report before tho shareholders at tho a- nual meeting. The engineer for the Ross Day Dawn Company reports that good progress has been made with the construction of the pontoons. Tenders for the cartage of material from Greymouth to tho claim are now in. Tie last portion of the machinery is now ready for shipment at Wellington. The directors of the Hokitika River Company have made arrangements for the dredgemaster, Mr Tough', to erect the machinery on the dredge." The steamer Eimu arrived last night from Auckland, with the whole of the machinery on board. The dredgemaster arrived last night, and a start will be made with the erection as soon as the carters got the machinery on the claim. Mr Tough anticipates that the dredge should be ready to commence operations within twelve weeks from the commencement of the erection of tho machinery. Much discussion lias taken place in Southern newspapers regarding the management of certain West Coast companies, managed in Dunedin, and the “New Zealand Mining and Engineering Journal,” commenting on the matter, says the whole question of company management requires an overhaul; the proportion of expense to the capital is too great; and dredging, though a profitable industry, must be carried on by competent men, who make a business of it, and are interested in the financial success of the concerns they manage. In connection with four Coast companies, managed in Dunedin, the preliminary expenses (including brokers’ commission on flotation charges, stationary, salaries, petty cash, directors’ fees and rent) totalled £1655 7s sd, or over £4OO per company, as contrasted with a Wellington-managed company, owning nine claims, where the total preliminary expenses were £17119s 9d.