GOLD DREDGING.

Greymouth Evening Star, Volume XXXI, 5 December 1901, Page 2

GOLD DREDGING.

Gbeenstone Theee-Mile dredge is expected to get a fresh start to-day. Nelson" Cheek Gold Dredging Com pany declare a dividend (the sixth) of Is per share, payable on the 3rd prox. Shareholders will receive warrants through the post. Ghey Eiveb Extended—Reporting to the Secretary of tha Grey Biver Extended Company (Mr C. L. Russell), the dredgemaster states the machinery is working well. It will take a week, he continues, to open up with one shift owing to a flood having silted up the face. He expects to put three shifts on next week, and will probably wash up on Friday or Saturday of that week.

Waiwhero Sluicing,—Tho cKretonrof the Waiwhero Sluicing and Dredptig Company, in a circular to shareholders state .that in consequence of the returns from the claim having proved so extremely disappointing, and unsatisfactory they feel it their duty to call an extraordinary general meeting of shareholders to discuss the position and decide what action should be taken in future. A meeting is to be held on December 9th, Ahauea—The dredgemaster of the Ahaura River reported under date 21sfc inst.:—" I intend turning the dredge at nearly right angles to our present face and out into the big beach between the dredge and Riley's tailings. The advantage of this course is that it will give the dredge two years' dredging clear of floods, with their consequent loss of time. The ground is still from 42ft to 44ft deep." Faiedown—The annual meeting of the Fairdown Company, a companion of the Island Creek and Wareatea Companies, was held at Dunedin on Monday, when a motion to liquidate was lost in favour of a motion that Mr J. P. Smith be authorised to thoroughly prospect the claim, provided the venders surrender 500 paidup shares, and, failing good report from him, the directors should, if possible, bring forward some suggested scheme for amalgamation. The company's outstanding calls total £IOOO.

Gbey Eivbb Consolidated.—The dredgemaster of the Grey River Consolidated reports under date November 15: " The wash is loose, with a lot of Band in it, and the dredge is putting through as much as the tables will take. The gold this week is a better sample than last, there being more bottom gold in it. The ground is 18ft deep from water level, with a face about six feet. The dredge ia working 32 yards from the river; width of cat two chains six yards; advansed 22yds ; material treated 9200 yards.

Leviathan—'The directors of the Leviathan Company are calling an extraordinary general meeting of shareholders of the company for the 13th inst. to consider the advisability of passing resolutions for the voluntary winding-up of the company. The issue of 12,000 preference shares of 5/- each have not been subscribed. The cost and expenses incurred through the accident to the dam have exceeded the amount estimated. In the circular issued to shareholders the liabilities of the company are estimated at £3250. They now amount to £3690.

Minbbs' Lead—The liquidators of the Miners' Lead Company have had a trying time getting in the calls, but everything is now in the hands of the Company s solicitors, who have already sued and obtained a goodly number of the amounts due. They are now having a final clean up. The dividend coming to shareholders will be visible to the naked eye, but will necessarily be on the minute side, as only 3s 6d per share was called up. Mcst of this money was expended in an effort to fully test the claim before proceeding to dredge construction. On two separate oocasions boring was undertaken, but the prospects not being sufficiently encouraging, the directors wisely decided to liquidate.