GOLD DREDGING.

Greymouth Evening Star, Volume XXXI, 30 November 1901, Page 2

GOLD DREDGING.

The dredge formerly Dobson No 2 but now Grey River Extsnded has been working during the past week at the place whore she suspended operations, when owned by the Dobson No 2 Company. The following is the directors report of the Totara Flat Gold Dredging Company :—" The directors in presenting the balance-sheet made up from the registration of the Company to 30th September, 1901, have to report that the dredge was completed on 23rd November, and the opening-out of the claim is proceeding. Owing to the capital of the Company being insufficient to meet contracts for the dredge and other liabilities, the Directors attempted to obtatn subscriptions from Shareholders for the Reserve Shares. However, as very few were applied for, the Directors decided not to allot any but to issue Debentures up to the amount of £2. C00 to meet all liabilities, and to leave a safe margin for working expenses until payable gold is struck. The3e Debentures have been subscribed and will be issued as required. The retiring Directors, Messrs James Marshal and 0. Palliser, being eligible, offer themselves for reelection. The retiring Auditor, Mr W. B, Flatts, offers himself for re-election. The return from the Buller Junction Gold Dredging Company, which came to hand yesterday, is 47ozs of gold for 128 hours' work. This return makes the gold won by this dredge during November tote up (to 2220zs Sdwts, and has enabled the directors to delare a dividend of sixpence per share, payable on and after Wednesday next. The directors of the Marsden No. 1 Company n»et at Christchurch the other day, and it was decided to make another attempt to get a meeting of the shareholders to consider tho question of the company going into voluntary liquidation. Notices, calling an extraordinary meeting for December 2nd, are to be issued.