GOLD DREDGING.

Greymouth Evening Star, Volume XXXI, 1 November 1901, Page 2

GOLD DREDGING.

——0:0A dividend (the fifth) of Is per share has been declared by the Nelson Creek Dredging Company. The Hauhau Creek dredge obtained I7oz 13dwt for 93 hours last week.

The following circular has been issued by the secretary of the Marsden No 1 Gold Dredging Company to the creditors of the Company. “ The Directors regret to inform creditors that it has been necessary to call a meeting for the purpose of liquidating the Company ; and that expense may not be incurred by creditors suing, I am instructed to give notice that the assets of the Company are already, pledged, and that if action is taken against the Company the property will simply be seized. It is hoped that there will, with careful management, be sufficient to pay all the debts of the Company in full.” The Greenstone Three Mile dredge is laid up again, having stripped the driving pinion. The dredgemas;er (Mr Donaldson) informed our Kumara correspondent that he hopes to bo able to get another from the foundry immediately, if they have any on hand, and thus obviate any serious delay. The above break was not duo \to any defecs in the machinery, sq| much as the extreme hardness‘of ths ground. The dredge is in anything but a safe position because if a flood should come, it would moan sitting up. After a few days’ trial cf Mr J. White's property, the dredgemaster of the Greenstone Junction dredge turned once again up stream yesterday, indicating that the ground referred to is not ricn enough. This may mean a somewhat reduced return for the week. However, a steady run next week on her old ground should put her among the foremost on the list once again. Greenstone Creek return will be about the same this week as last.