GOLD DREDGING.

Greymouth Evening Star, Volume XXXI, 19 April 1901, Page 2

GOLD DREDGING.

The secretary of the Greenstone Creek Gold Dredging Company, Mr F. H. Labatt, reports a return of about 3oz for tho first wash up on Saturday last. It is understood that the Grey River Consolidated Company’s dredge should bo ready to commence operations in six weeks from date. The latest anticipation respecting the date when the A.l. Company’s dredge will commence operations is that it will bo a fortnight from date. Tho dredgemaster of tho New River reports that dredge stopped on Tuesday at midnight through flood in tho river, but resumed dredging at midnight (Thursday.) Tho return up to Tuesday at midnight was l/iozs IGdwts for 90 hours work, and tho ground is improving. Tho pontoons [|for tho Premier Bullor River Company’s dredge are almost completed, and will be launched when required. Tenders are being called for tho El Dorado Company’s pontoons. The machinery is about ready to ship. AW A Dunedin telegram states that motion to voluntarily liquidate the Ngahero Company, on the West Coast, was yesterday lost at a meeting of shareholders.

The shaft put down by by the Waimangaroa Company was so successful that it is intended to put down another. The gold got is a splendid sample, and the bottom coarse and heavy. The Wareatoa Company are making very good headway. The pontoons are being caulked, and should be finished in about three weeks’ time. Tenders arc being called for the cartage of the machinery. Tenders for the Pairdown Company’s pontoons are being called. There will bo no need of a darn, as at present there is 14ft of water in the paddock worked. The adjourned annual meeting of the Golden Grey Dredging Company, which was to have been held in Messrs Cook and Cray’s office on Wednesday lapsed for want of a quorum. A special meeting, of which due notice will be given, must bo called in order to transact the necessary business. The directors of the Greenstone Creek Company warn the shareholders not to ho led astray by unauthorised estimates us to the probable result of the weekly clean up. The dredge is not yet working on Hie bottom, so that it is said last Saturday’s result cannot be looked upon as any criterion of future returns. The secretary of the Waipuna Creek Company (Mr F. Not ley Meadows) states that the directors have decided to further prospect the claim, the upper portion to be tested with a view to avoid the mistakes that have taken place in connection with companies whose dredges arc now at woik cn Coast claims. Negotiations are almost completed for the purchase of an np-to- date dredge for the claim. It will be some time before the Consolidated Company’s dredge readies the Old Diggings Company’s claim. At present she lies just above the "Bull Pun” Falls. Timber for now pontoons for the Old Diggings Company’s dredge is being cut at the Capo, it being necessary to have larger pontoons than arc at present being used by the Consolidated. The Westport correspondent of tiie "Otago Daily Times” considers it would have been far more satisfactory to have got a new dredge, as eventually the cost will be just about the same, and then the company will have

only old machinery. The return of 71oz from the Nelson Creek Company’s dredge as the result of hiit week’s work is says tbo .“Press” the second highest return obtained by the same company’s dredge, which, for the week ending February 16th gave a result of Took. The dredge started operations in January, and up to March 9th had obtained 2,7030 z of gold, which, with the returns since obtained, should have wiped off the liability of £I2OO, less £o.‘3S cash at bankers, which existed at the end of December last, and the company should soon be amongst the dividend payers. At a time when the returns from the Coast, dredges have shown a considerable falling off, the return from the Nelson Creek Company’s dredge should bo an indication that the Coast ground is not altogether "barren, and inspire hopes in the minds of holders of other West Coast stock. According to the Westport correspondent of the “ Otago Daily Times,” an erroneous idea appears to bo prevalent with regard t.o the Island Crock Company’s dredge. It is thought that the machinery of this dredge is from tho Miller’s Flat Electric, therefore, old and worn. Tho fact is that all the dredge is new, with the exception of the pontoons, buckets, and ladder. The pontoons arc in splendid order, and will last longer •■ban any new wooden pontoons. Tho buckets have been all fixed up and relipped. Three weeks should ece thp