MASTERTON GOLD DREDGING COMPANY.

Wairarapa Age, Volume XXIX, Issue 8385, 20 March 1907, Page 6

MASTERTON GOLD DREDGING COMPANY.

The following is the annual repurt to be submitted to the shareholders at the annual general meeting of the Masterton Gold Dredging Company to be held in Dunedin on April 12th: —The amount of gold won during the year was 2,9590zs ISdwts 4grs, yielding £11,698 Is 9d, and the dividends declared amounted to £8,500, or 34s per share, making with the 26s per share declared prior to January 31st last year, and the 5s per share declared since the date of the accompanying balance-sheet, a total of £3 5s per share, or £16,250. The first return from the dredge was on September 15th, 1904, and the total value of the gold won to date is close upon £25,000; the returns since operations commenced have averaged slightly over 50ozs per week, reckoning fifty weeks per year. The amount of unexpended capital, £4OO, still remains on fixed deposit with the National Bank of New Zealand, Ltd., and provision has been made for income tax to January 31st, 1907, £214 2s, leaving a credit balance at Profit and Loss Account of £3 Is lid. In accordance with the Articles of Association, Mr William Hessey retires from office, also Mr James Brown, the auditor, and both being eligible, offer themselves for re-election. ,