DREDGING RETURNS.

Otago Witness, Issue 2817, 4 March 1908, Page 30

DREDGING RETURNS.

COMPARATIVE DREDGING RETURNS, The- following table shows the number ol Otago and Southland dredges at work weekly, with their returns, together with tne figures for the corresponding periods of 1907, 1906, and 1905. Pennyweights and grains — »ia omit'led in each instance : —

BAREWOOD G.M. COMPANY. The fifth annual meeting of shareholder* of ths B«r»wiood G.M. Company was haldl yesterday afternoon. Mr Hugh Ada-xm ooou-i pied the chair, end there were nine share* holders present. On the motion of the chairman th« annual report and balance sheet were adopted. Th* report included the following olausee: — " T*he bo*rd is pleased to srt«t« that th« introduction of a gas producer plant fos power purposes at the mill has proved en* tirely successful, and working costs at th« mine will now be very low; in fact, the mine) should be worked as cheap *a any mm« in New Zealand under like conditions. A!« ready the gas plant and additional five nemd* of stamps nave had an effect on the working expenses, the cost per ton of ore being 2ff lOd less than last year. In November l*afi it was decided to sink the shaft and open uj> No. 4 level at 300 ft, in spite of the £ac* that Born* liabilities would be- incurred b^ doing so. Thi» has now been completed* and the results ar« very encouraging, th« first crushing of 180 tons from this dopto yielded 65ca of gold, or over 7<twt per ton. The board is of opinion that all liabilities will soon be met, otherwise the work woulJ not have been gone on with. Your director* have to thank all the employees for the *•» in which they have worked far tad company during the year, and especially are thanks dv« to Mr H. S. Molineaux, the min-6 manager, ■since it is entir«ly owins to Ilia untiring . efforts and constant vigilance thwt tho position, of th» mine is full of encouargemenfl fox the future." The engineer's report showed a loss pe* ton on the ore mined and milled, but muds of this loss was due to the large captlal expenditure incurred during the year. Foelowing its usual custom, the board had not placed the whale cost of new plant anoj labour incurred in erection to capital ac< count, but had charged ft considerable portion to the working account. During l«w« year tho expenditure on. stores and mamtenanoe was J8370 17s, as against £226 19s Id id 1906. This excess was duo mainly to ik* thorough overhauling the older portion oi the mill received when additions were mode. The retiring directors, Messrs H. Adon> and IL. H. Murray, were Te-«lected, ad were the auditors, Messrs Wm. Brown and Company. MOLYNEUX KOHINOOR DREDGINOCOMPANY. The eighth annual general meeting of shareholders of tSe Molyneux Kohinoor Dredtf-» ing- Company (Ltd.) was held at the cont« pany'a office, Bond street, on Friday after* noon. Mr Hugh Adam, chairman of direct tors, presided, and there were eight othetf shareholders present Th» report and balance sheet have beeO! published. .„•,.. . Tha Chairman, in moving the adoption ol the report and balance sheet, regretted thftfj tho company was not in a better financial position. It stood at present with a return this week of 16oz 15dwt> with a debit b»lanc# * of £60 11s 4d, after oooounting for all liabiliw ties. As for the future, they could not mm) what it had in store for them. For him* > self ho thought it would be advisable to ga on, and if they did not .do better befotW long the company ought to close dowty Their funds at present were low, as Ifo - dredge had been stopped for a fortnight fa repairs, but it was hoped that they wonli now make up tho leeway. The dredge rrm working a-quarter of a mile from tne tog of the claim and the quality of the gronn< in that distance was not known. It mips 'be good ground, and it might be otherwise The j»k»reholdeis were not so b&dlx off M

tihwreholders in many other companies. Of 4h* 3D* paid up 9s 6d had been returned to them in dividends. The dredge was in fairly good working order, barring the screen, but it was expected that the crew would be •Die to fix up the new screen by the beginning of the -week. Mr W. H. Melton seconded the motion. In reply to a question, the Chairman said the -width of the quarter-mile of maiden ground was the full width of the river — about three or four chains. ' The motion w*s agreed to. Messrs H. Adam and F. W. Mitchell were pc-elected directors. Mr G. M. M'Lean was re-elected auditor. GOLD EXPORT. AUCKLAND, March 2. The month's gold export is valued at £86,416. DUJTEDIN STOCK EXCHANGE. Following upon the big returns obtained I>y the Lady Roxburgh and Golden. Bed dredges, these companies' stocks on Monday exhibited a considerable firming tendency. Rise and Shines are also -firmer than heretofoie. In Auckland stocks, Waihis are a li-ttle better in consequence of Monday's dividend, end Talismans have firmed in sympathy. Investment stocks on Monday's market were interesting. Union Steams have been in considerable demand lor some time, and on Monday again two parcels changed hands at 355. A parcel of New Zealand Papers was sold at £1 3s 4Jd, the closing quotations being — buyers £1 '3s 3d, sellers £1 3s" 6d, which should be better. There is a close demand fox Mosgiel Woollens, buyers offering £3 Is 6d, and sellers holding out for £3 2s 3d. The following are latest quotations, subject to the usual brokerage: — Dredgihg Stocks Bignell's No Town— Sellers ss. BLackwater (contrib.)— Sellers 79 6d. Chicago — Buyers 4s, sellers 7s §d. Electric— Sellers 12s. ! Enterprise — Sellers 5s 9d. Golden Bed— Buyers 12s 9d, sellers 13s. Golden Treasuxe-^Buyers £2. Hessey — Sellers 5a 6d. Lady Roxburgh (contrib.) — Buyers Bs, sellers 8s 9d. Koputai — Buyers £2 4s, sellers £2 Bs. liastexton — Buyers £2 ss. Molyneux Kohinoor — Buyexs"7ld. New Roxburgh Jubilee — Sellers 9s. New Trafalgar— Sellers 18s. No Town Creek— Buyers 9s. Paotolus— Buyers £1 4s, sellers £1 5s 6d. Rise and Shine — Buyers £1 5s 3d. Rasing- Sun — Buyers £l-4s. Waibaka Queen— Sellers 6s. Mining Stocks. Barewood — Buyers 6s. Talisman Consolidated— Buyers £2 13s, sellers £3 14s. WaiM (ex div.) — Buyers £9, sellers £9 4s. February 25.— Golden Bed, 13s. February 26.— Electric, 10s. February 28.— Golden Bed, 12s 6d; Rising Bun, £1 4s 6d. February 29.— Talisman Consolidated, 53s 9d. February 29.— Union Steams (two parce.s), 85s. (March 2.— Golden Bed, 13s; Union Steams <two parcels), £1 15s; Paper Mills, £1 3a 4Jd. ' LONDON STOCK EXCHANGE. LONDON, March 1. Shares.— Waihi— buyers • £9, sellers £9 2s €d^ Junction — buyers 18s 9d, sellers £1 Is «d.

1 2 3 6 3 5 4 4 190?. 2CB 182 294 154 192 144 122 1907. 2 43 8 381 8 303 8 262 6 262 7 -259 6 269 6 222 2 6 8 8 7 8 10 9 .906. 28 254 873 441 282 283 805 271 19 2 13 12 17 18 20 15 15 105. 2! 40i 9ki *n\ 411 Si' 47( 1293 2022 2238 80$

J 3 L 4 28 !6 <A II »6 12 Oz. 69 242 955 87d 6SJ 930 689 961 Oz. 3 59 22 559 32 791 34 996 29 798 33 833 34 1088 35 1020 8 30 39 41 38 34 40 42 Oz. 254 991 1087 1096 1072 969 1179 1189 0%. 11 183 43 110 d 52 1857 61 1196 51 1420 52 1421 51 1337 45 1211 5407 6144 7837 9233

The Wzst Coast.

Pactolus No. 1, 128hrs Ko Town Creek, 130hrs .. S T ew Trafalgar, 122hrs .. .. Blackwater River, 117hrs Bignell'a No Town, 119hra Total .. .. > .. 53 0 0 .. 46 0 0 .. 15 13 0 .. 15 0 Q .. 14 16 0 .. 144 9 0

\j-i.. uwi ra Golden Treasure, Miller's Flat, week 97 0 Q Rise and Shine No. 2, Clutha River, 133hrs 71 17 0 Rising Sun, Cromwell, 128hrs 63 10 Q Lady Roxburgh, Roxburgh, wk 63 13 0 Mystery Flat, Waikaia, 137hrs.. 60 8 9 Koputai, Waikaia, lSlhrs f. 55 9 0 Golden Bed, Miller's Fl«t, 130hrs 53 1 0 Maat«Tton. Waikaia, 138hra 51 7 O Waikaia, Waikaia, 135 his . 46 13 0 Manuherikia, Alexandra, 131hrs 40 0 0 Waikaka Queen, Weikaka, 117hr8 35 18 Q Waikaka United No 1, Waikaka, lOOhrs 23 16 f Otago No. 1, Miller's Flat, 130hra 28 • 8 Otago No. 2, Island Block 131hrs 21 6 A Sandy Point, Alexandra .... 23 11 0 Kur*, Waikaia, 188hrs . . . . 92 £ • Electric No. 1, Cromwell, 123hrs 21 10 0 Riley's Revival, Cromwell, 112krs 20 10 d Enterprise, Alexandra, 132hrs . 18 2 0' Chicago. Alexandra, 134hr6 .. 18 2 0 Rise and Shine No. 1, Clutha River, 188hrs , 18 1 0 Punt, Clutha River, 128hrs .. 17 8 0 Waikaka United \No. 2, Waikaka, 124hrs ' . . IB 18 ft Molyneux Kohinoor, Roxburgh, 133b.rs 16 15 0 Charlton Creek, Gore .. ..- 16 5 0 Central Charlton, Gore, 134hrs 15 3 O Muddy Creek, Waikada, 123hra 14 2 0 Switzers, Waikaia, 120hrs .. 9 15 9 H*rtley and Riley, Crom-well, 120hrs 8 11 d Golden Gate, Miller's Flat, wk 616 0 Total 973 6 ft

The West Coast.