SOLD DREDGING.

Greymouth Evening Star, Volume XXXI, 7 October 1901, Page 2

SOLD DREDGING.

Too past week was one of surprises in dredging matters that caused both a [rise and fall in stock. The Paotolus return was the most pleasant item. Up to Thursday no indication was given of the impipveraent. Of unpleasant matters the sale a BignellV No Town claim for such a ridiculous sum occupied much attention, -nd has wo understand, been put into ttie hands of lawyers, some shareholde e being determined to see the matter through. The closing down for a time .*f Ford’s Creek and Maori Queen has cftusod disappointment, although i#

'regard to the latter the proper course has been taken. On the whole, however, a distinct improvement in tone is manifested, and even among call payers —who have been feeling the pinch—there is an easier feeling. Tbi Paotolus with 50oz for 132 hours ■0 far heads the list. The return was not expected and as a result caused a mild flutter. It appears that towards the end of the week, when most of the gold was obtained, the dredge got clear of timber, and could treat the wash freely. If this was to continue which at present cannot be foretold, then the Pactolus would be running Nelson Creek for first place. A 1 Dbbdg* with 440 z 3dwt maintains her position for consistency. The ground continuing a trifle tight, but otherwise good dredgable material. Greenstone Junction got a good run of 136 hours for 250 z. This) claim is promising well, and if not too much troubled with the large amount of silt that is brought down by any flood, will give steadily returns.

Bullib Junc iion dredge which recently recommenced work—where she ought to have done at first—early last week struck bottom at 25ft and although soarcely yet on a fair face got 48 ozs 5 dwts for 115 hours. The wash is fairly even and free, a sign that promises well for the future.

Grit Bxvbb owing to break down taking more time to remedy than was expected only got 90 hours work, and some of this time was hampered. The yield of 20 ozs is not quite up to expectation, but this and succeeding weeks should show a considerable improvement although the timber trouble is not altogether absent. Grey Consolidated got 18oz». There is a strong opinion hold among Coast shareholders that if the dredge was treating what they term anything like full capacity, returns would be at least double. The quantity of ground treated so far is small in comparison to the time the machine has bean at work, We do not indicate where the fault lies. Some blame the dredge, others the manage/'tpent; but all agree that the ground is gdbdi-

Maori Qdekn gave ISozsldwt for 90 hours work, during which time the machine put through a very small quantity of dirt. Indeed, since the company started the dredge has not put through more than a fifth of what should be expected from a dredge. The ground certainly is tight, but the dredge is ridiculously weak, and success under such conditions is therefore doubtful. So far all that has been demonstrated is that the ground is uniformly good, and with sufficiently powerful machinery would; pay handsomely. Evidently the directors have come to. this conclusion and have determined to shut down with the present toy and get more powerful machinery, so tbaj'for some time the" “Maori Queen” will not figure in the weekly returns.

, Greenstone Ckxbk 7ozs 16dwts is about what can be expected from this dredge till she works further along. She may however, get an occasional patch. .Ford's Cbeik has stopped, and will remain idle for some time to come. A Jenoral meeting of shareholders will be eld on the 18th. As a matter of fact this dredge—never fit for the depth she was dredging—has been considerably strained and knocked about and will require a good deal of repairs. • Plenty of evidence is available this week of good ground, promising investments and rotten machinery. Trafalgar— The contract for tho erection of the Trafalgar Company's dredge’s machinery will be let this week. This company has been proceeding very leisurely for months past. With the bright prospects before them a little more energy may be expected in the future.

•■lsland Cbma —lntimation was rewived from the dredge.master of the Island Creek that the return for September 28th waa 3oz for 70 hours, and that the dredge haa bean working in what is probably a aandbold. The Oewell Cbbik dredge ia ready for vfi)rk. At the annual meeting it was stated that the ground waa about 60ft in depth, but it waa intended to lower the dredge, and, it necessary, they could work to a depth of 45ft. Thb Yictoby Company’s dredge, on Nelson Creek, has a shortage of funds to the extent of £6OO, which there should bo no difficulty in raising. Machinery has been landed from America, and is on the ground, and has turned out to be firstclass looking stuff. The pontoons are about completed, and the work of erection will be proceeded with immediately they are launched. ~ OTTB KOMABA CORRESPONDENT Gbkbnstonk Three Milk—No information beyond “It was very satisfactory” can he learned about the Greenstone Three Mila return lor last week. With patience we: will learn of it in time. I understand that the dredgemaater wrote aojnetime back for permission to make the result known publicly within a reasonable time after sending *it to the Dunedin office.. No reply has yet been received.

A Mountain Sluicing Claim. lam given to understand that Byan and Party’s sluicing claim better known as “Qalty More" at Maori Potnt Greenstone, ia on the point of changing bands. The- prospective purchasers are well known sluicing men from the local fielJs, | and with their long experience should know what they are about. The price mentioned runs well into four figures, but as the last washing' up ia xeperted to have paid handsomely, and as it is a ‘‘-ifor" the large figure ia not surprising. The method alopted for working is unique. The claim is close to the foot of Ml French, and the wash very heavy. To meet this contingency the tail-race varies from about 16ft .wide in its narrowest part upwards, with a fall of Bfl 6ia in every 12ft. The race is , paved with wooden blocks in the middle flanked with logs. Outside of these to the aides of the race is paved with stones. The writer measured stones at the tailrace fully IQfl lohg, and these he was assured were by no means the largest, as they by force of gravity naturally found them at the base of the tailing heap When a slip comes down there is ho splitting straws, it generally goes out bodily as the overburden is strongly impregnated with pug, and when thoroughly saturated its force is irrestible. This ia no Yankoy yarn, bat sober fact.