LEVIATHAN FREEHOLDS GOLD DREDGING COMPANY, LTD.

Greymouth Evening Star, Volume XXXI, 2 August 1901, Page 4

LEVIATHAN FREEHOLDS GOLD DREDGING COMPANY, LTD.

The following circular has been issued to tha shareholders : Ladies and Gentlemen, —It is now six months since the flotation of the above Company, and in the interim your Directors have had completed the following woiks, namely : —Bush Felling Contract, whereby twciuy acres have been underscrubbod and filled ready for burning. Your Directors considered it advisable to clear twenty acres so that ample dredging scope would be available when the dredge starts. The Engineers are thoroughly satisfied that the work has been faithfully executed by the Contractors. Too site for the dam has been chosen and thoroughly cleared suitable for oporations to commence.

A contract has been let for the tramway from the railway siding to the dredge site (22 chains) to be completed within six weeks. The construction of this tramway wiU be of lasting benefit to the Company, enabling plant, stores, and all dredge requirements to bo conveyed at a minimum cost.

The hardwood timber for pontoons has already been delivered at the siding, and awaits completion of tramway to convey it to tho dredge site. The kauri planking has been ordered and is daily expected to arrive from Auckland. Your Engineers, Messrs Cuttcn Bros, have given considerable time and attention to designing a machine capable of efficiently working tho ground, with the result that tenders have now been called for a very powerful and superior dredge. Two engines, (Marshall and Son, Gainsborough) 1. 16 h.p. and 1 coupled 8 h.p, have already been cabled for, and an order is now being despatched for all parts subject to great wear and tear, which are to bo in Hadfield’s east steel. TUo Manganese steel pins and bushes are also imported. The whole is to be driven from a 30 h.p. boiler.

Your Directors are confident that the dredge as designed will meet all requirements, and although some delay has been necessary to enable your Engineers to furnish these plans, the delay will be more than compensated for by the machine of which the Company will be in possession. It was hoped that the dredge would be working on this property within twelve months from dotation, and although tho delay refered to lias taken place, it is still believed that dredging operations will commence within thirteen months from that time.

The Directors have felt justified in pushing forward the works of the Company, as the property was well prospected and guided by (he result they look forward with confidence to the commencement of operations.