GOLD DREDGING.

Greymouth Evening Star, Volume XXXI, 21 November 1901, Page 3

GOLD DREDGING.

The issue of 2,500 preference shares of each by the Premier (Bnller) Gold Dredging Company, Ltd., has been fully subscribed, and the whole number of shares allotted. About two-thirds of the shares (12,000 Of 5s each) in the Leviathan Company b#Ve been applied for, and as the time of application has been extend'd it is expected that the balance will bo duly placed. About twenty tons of machinery for the Kangaroo Creek and five for the Koh-I-Noor dredges arrived by the Haupiri yesterday. The Nelson Creek dredge will close down on either Friday or Saturday for repairs which will occupy about three weeks time. The Kohikohi dredge, which has been effecting some alteration to the travelling gear of her elevator, has again started work, and washed up winning IGjoz of gold for 70 hours’ work. The directors of the Consolidated Gold ' Fields of New Zealand, Ltd., have declared a third dividend of 2s per share (10 per cent.) payable in cash, together with an additional bonus distribution of 10 per cent., payable in fully-paid shares of £1 each in the Progress Mines of New Zealand, Ltd., at par ex the dividend of Is per share payable by that company. The boat belonging to the Greenstone Creek dredge reported in yesterdays notes as having been awamped under the ' dredge was again recovered having sustained no damage. The Greenstone Three Mile dredge is again in difficulties writes our Knmara correspindent. Having|become silted up In the fljod on is now high and dry, It is said that it will be at least two weeks if not three before the dredge is at work again. This is very unfortunate as a return of between 35 and 40 ozs was expected this week if a good run had been obtained. Last week’s return was so I have learned on good authority 24

ounces. At a mooting of the Greenstone Q.D. Company held at Dunedin, it was decided to go into voluntary liquidation—the liquidator to transfer the assets to a new company undertaking the obligations of the present company. It was resolved that the capital of the new company be £9OOO, to consist of 3000 contributing and 6000 fully paid up shares. A proposal to remove the registered office to Kumara was lost by 2924 votes to 2380.