MAJOR ROBIN DREDGING COMPANY.

Greymouth Evening Star, Volume XXXI, 18 December 1901, Page 4

MAJOR ROBIN DREDGING COMPANY.

A meeting cf shareholders in the above Company was held at Dunedin on Friday night. Mr Don explained that shareholders were called together to hear the report from the committee appointed to consider th) question of purchasing an interest in the Duke of Wellington Company’s dredge, The report was as follows :~ “ The committee appointed by the Major Robin Company’s shareholders at its meeting, held on the 25th ult, having carefully considered the proposals made by the Duke of Wellington Company to purchase a three-eighths interest m that company’s dredge at £ISOO, cannot recommend the shareholders of the Major Robin Company to fall in with such proposal for the following reasons: 1, Dredging on the Grey River has not up to the present been a success, and the tests applied to the Major Robin Company’s claim do not warrant thet company putting on a dredge. 2. Assuming that the amount estimated by the engineer to complete the Duke of Wellington Company’s dredge is correct, the Major Robin shareholders have no guarantee that this amount will not be exceeded before the dredge starts work. 3. The committee consider that even if the scheme were carried out and proved successful the Major Robin Company would have to wait for two or three years' before the Duke of Wellington Company saved a sufficient amount of

gold to repay the Major Robin Company the money advanced by it to effect the object now proposed.” A long discussion ensued, after which the report was carried.