DREDGING COMPANY’S TROUBLES.
DESTRUCTION OF THE DREDGE,
By Telegraph—Press Association
Dune-din, last night. Particulars to hand regarding a dredging disaster at Sixteen ’.Milo Beach arc conflicting. There was a caretaker on hoard for the Company: also a young man named James Austin, who was look!’ ing after the interests of the Dunedin Engineering Company. The dredge sunk or broke away last night at 11 o’clock. One of the pontoons:, after travelling through the Alexandra- Roxburgh Gorge" was stranded about a mile below Roxburgh. The machinery had been swept off by the current, which must have been very strong, as tho river was 15 feet above the normal mark.
It was reported that Austin, who was on hoard, had been drowned, but a late special to tho Times to-night savs that the caretaker alleges that Austin "is not drowned. The Company had just made financial arrangements with the contractors and otiiers by mortgaging the dredge, and was awaiting the deeds heir," registered. The original subscribed capita! was £3500, since which 1780 preference shares have been issued, AH that is left to represent this is the claim. There was no marine insurance on the dredge.
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Bibliographic details
Gisborne Times, Volume VI, Issue 251, 31 October 1901, Page 2
Word Count
193DREDGING COMPANY’S TROUBLES. Gisborne Times, Volume VI, Issue 251, 31 October 1901, Page 2
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