A LEVIATHAN DREDGE

Sun (Auckland), Volume 1, Issue 41, 11 May 1927, Page 3

A LEVIATHAN DREDGE

THE MOST POWERFUL IN THE WORLD A gold dredge, the largest and most powerful river dredge in the world, is being designed by Mr. R. A. McLintock, C.E.M.1., Mech.E., F.C.8.T.L., Dunedin, for a company now being formed, the Hartley and Riley Consolidated Gold Dredging Company, Limited.

The pontoons, the structure for carrying the tumbler and gearing, the gantry, screen-and tables will be constructed of steel and divided into a number of water tight compartments rendering the dredge unsinkable. The ladder, which is being equipped with 9ft. cast steel and manganese steel lipped buckets, will dredge 55ft. below the water-line, and is capable of removing upwards of 300 cubic yards of gravel an hour. This leviathan dredge is being designed to work three miles of the Molyneaux River below Cornwall, Otago, a portion of which was worked in the early days by the Old Hartley and Riley, Alpine Electric and other small dredges, whose capacity and power were quite inadequate to work the heavy and deep ground. Some of these dredges yielded enormous returns by working the shallow ground and beaches, thereby proving the richness of the river bed.

The company is being formed with a capital of £75,000, divided into One Shilling shares payable 3d per share on application, 3d per shade on allotment, 3d per share first call six months after first allotment meeting, and second and final call of 3d per .share 12 months after first allotment meeting, the minimum subscription being 400 shares (£2O worth). The members of the Vendor Syndicate are not taking any cash, but are taking the whole of their interest in fully paid-up shares, which they agree not to sell until 12 months after registration of the company. They are also applying for 100,000 (£5,000) contributing shares. A director’s qualification is £SOO (10,000) contributing shares. The names of the Provisional Directors are: —George Gladstone Marriott, merchant, Auckland; Henry James Smith, engineer, Auckland; Theodore Dufton Moffat, retired, Gore, who hold office until the statutory meeting of shareholders. The prospectus has been submitted and approved of by the Auckland Stock Exchange, one of whose members, Mr. Sidney Thorne George, is broker for the company, and application for shares may be made to any member of the Exchange. Prospectuses and Application Forms, with map of claim, may be seen at any branch of the Bank of New South Wales throughout New Zealand, or obtained from any member of the Exchange, or from A. H. Kitto, Interim Secretary, 505 Southern Cross Building, Chancery Street, Auckland.