SOLD DREDGING.

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

SOLD DREDGING.

It is expected that the Welcome Company’s dredge will oommenooworitin five or six week’s time. Mr G. Boss, the secretary, reports that the Rockland’s [Beach Company’s dredge had np wash up last week. It is understood that there was no wash up on the Reeves’s Proprietary Company’s dredge last week. The Red Jacks dredge is expected to be ready to commence operations at the end of the present month. The - ground is

thought very highly of by many of the local residents. - ;; i - Tbe Hokitika dredge will be ready to commence operations next week'. The boiler etc. was under steam yesterday with the view of testing the joints, etc. The Chairman of Directors (Mr G. King) states that in consequence of the increase in the price of machinery, it Will be necessary to issue a certain number of preferential shares. At an extraordinary general meeting of shareholders in the Golden Banner Gold Dredging Company, held on Thursday, sth last., it was resolved to confirm the sale of the machinery and pontoons to the Pride of Marlborough Company at the prices mentioned in circular calling the meeting. The meeting., was largely attended, 85 shareholders being present. • It is a well-known fact that the Ahaora Rivet Company’s dredge, omo ipf the most recent dredges to start work on the Coast, was on the point of liquidation before she ; had a trial. Only an energetic canvass of shareholders by the secretary saved the situation. The dredge rewarded their efforts, by immediately striking payable gold. This is another instance of insufficient capital nearly spoiling a good thing,

The secretary of the No Town Creek Gold Dredging Company, Limited (Mr Hoisted), informs the Otago Times that a report has been received from the engineer, stating the contractor expects to have the dredge completed and ready for work by the 24th of October. The engineer and local director also express themselves in high terms as regards the construction and workmanship of the pontoons, and, judging by the general opinion held re the value of the claim, this company should have a prosperous future. The directors have taken every care to have a dredge constructed capable of dealtog fully with the ground, to be treated, the only regrettable circumstance being the delay experienced through the contractor not being able to finish bis job within contract time.

The prospectors at M’Leod’s terrace are busily at work with the result that 'their first impressions of the value of the ground is fully confirmed by subsequent operations. We (the Guardian) understand that in the lowest tunnel which is driven some 140 ft a jump up is being taken at the terminal the object being to test the gravel which the drive in the sandstone bottom has undermined. Several of the oldest and most experienced alluvial miners of the district nave inspected the locality and are greatly impressed with the undoubted value of discovery. Mr B, Tyreman, secret ary of the Maori Queen! Company, states in a circular to shareholders that the dredgemaiter reports for the week ending August 24th s—- “ For 135 J hours the ground dredged measured 132(t long by 20ft wide, by 18ft deep, the amount of gold won being 14 oz. This shows the dredge only treated 14cwt per hour.” The secretary continues: —“Statements have been made that the dredge is too weak to work the ground. It would bo just as reasonable to accuse a man of being too weak because he is unable to shift as much metal with a shovel only from a gravel face, as a man with a pick and shovel. The dredge buckets are the shovels, the grabs the picks. As we informed you in a previous circular, we are confident that the additional grabs will enable the dredge to lift a payrblo quantity of wash,”