GOLD DREDGING.

Greymouth Evening Star, Volume XXXI, 12 July 1901, Page 4

GOLD DREDGING.

Reeves’ Proprietary Company

Mr T. N, Baldwin writing to the “ Otago Daily Times ” with regard to the Beeves’ Proprietary Company, says lie hears, on good authority, that the directors have been approached by the representative of a wealthy English company to purchase the option over the claim (on the following terms: —£200 to be paid for the option, which is to be spent in putting down prospecting shafts; shareholders to receive share per shave in the new company, and 16s a share in cash, the new company undertaking to put on six new dredges. The directors, he understands, met on the Ist inst., and wished to stipulate that they should retain office in the colony at a remuneration of £SO a year each and travelling expenses, receiving £1 per day when travelling. Tho English capitalists’ representative would not agree to this, and Mr Baldwin questions whether the shareholders have any reasons for supporting the claims of the directors, and has a letter for signature by shareholders requesting the directors to call an extraordinary meeting to discuss the proposals submitted.

Tho Waiwhero Sluicing and Dreding Company.

The secretary has received rhe following repoit from Mr G. Morris, tho mine manager of the Waiwhero Sluicing and Dredging Gompany. “ We are getting better weather now, and if it continues we should have a very good return next wash up. as tho cloths in Geordio’s Terraco are looking very well tho l ist Gw shifts, and bid fair in rival Buckley’s “ We have two nozzles on now, and are able to command the face bettor, for tho pressure is no good at all with tho water going through one pipe. There are two more tables to finish, and then all tho men will bo available for other work. Geordie’s water race is enlarged, so that it will carry sufficient water to work all the tables, aud wo arc making the tail race bigger as fast as wo can. As regards the main race last month was about as bad as we could get, for more than twothirds of the pay-sbeet went in repairs. ” Victory Dredging Company. The following is the report to bo presented at the first annual meeting of the Yictoty Gold Dredging Company•

“The directors have pleasure in presenting the first annual balance sheet o£ the company to the shareholders, together with the report of progress made since the first statutory meeting, held on Monday, June 4, 1900, which states Immediately after their election your directors appointed Mr F. W. Payne engineer to the company. and instructed him to prepare plans and call tenders for the manufacture of machinery. This was done; but owing to the New Zealand foundries having as much work as they could manage, and the prices submitted being so high, it was decided, in face of the congested state of the iron trade in New Zealand, to join with other companies in sending an engineer to America, with the object of having the dredge machinery manufactured there Mr Raymond Payne was entrusted with the work, and immediately after his arrival there he called tenders for the work and cabled the prices, which were considerably lower than those of New Zealand. Your directors, wishing to give every chance to colonial manufacturers, again called tenders locally and in Australia, but quotations still being high. The machinery contract was let the Quintard Iron Works, New York, at a satisfactory price, delivery in five months. Already a large portion has arrived in New Zealand, and a large quantity shipped ; the balance will be shipped this month. Mr Payne is staying in America supervising the construction. All o:hcr material, including a Marshall 10 horse-power engine and 20 horse-power bailer, has been delivered on the claim, and the pontoons, of kauri and bluegum, are being constructed, the contractor being Mr P Lyders. The retiring directors are Messrs J. H. Carter and J. G. Patterson, who, being eligible, offer themselves for re-election. The auditor, Mr H Mitchell also offers himself for re-election