MOKOIA GOLD DREDGING COMPANY.

Greymouth Evening Star, 31 January 1903, Page 3

MOKOIA GOLD DREDGING COMPANY.

The returns obtained by the Mokoia dredge have always been of a satisfactory nature, but the company was for a long time so unfortunate in having stoppages in consequence of floods and breakages that but litt'e headway was made. The tide of fortune seenp, however, to have turned in their favor during the last few mo iths, and if everything goes on smoothly the company will soon be free from debt and in a fair way to pay a dividend. A balance-sheet for the half year ended Djcember 31 has just bean issued to shareholders, and a perusal of this document will show thai the company's position has been improved y some £950 during the six months, On f ne 30. h the profit and loss account show j i a deb'.t balance of £563, and during the ha f year expenditure amounted to £1633 19j lOd, or a total of £2197 2j 6j, whereas the gold won for the same period was 667cz 16dwt 4,'r, valued at £2589 16s lid, so that on December 31 there was a ere jit balance of £392 14s 5d to be carried forward, At the close of the half-year there were sundry crecitors to the extent of £3ll Is, but against this there was -330 z 3dwt of gold valued at £127 12s Od, in transit, and a balance of £576 2i lid due by the ba,nk, making a total of £703 153 SJ. The quantify of gold won by the dredge during the whole of last year was 1086 oz 2dwt lgr. valued at £4252 7s BJ, and the cost of production was £3lßl 13s Id. The quantity produced from the time operations were commenced until December 31 was 2173 ounces 19dwt, valued at £Bosllos lid, while the amount expended from the date of registration of the company was £sl, 410.