MINING NEWS.

Wairarapa Age, Volume XXV, Issue 10713, 6 September 1913, Page 5

MINING NEWS.

THE MASTERTON COMPANY. . LIQUIDATION APPROVED. An extraordinary general meeting of shareholders in the Masterton Gold Dredging Company was held at Dunedin on Tuesday afternoon to consider and, if thought tit, to pass a resolution favouring the voluntary liquidation of the company. Mr E. Lawson said the company had been a good friend to ihem, and' tkey ought to congratulate themselves upon the happy termination of a successful business. The directors had done their best for shareholders, who had been paid very well. Mr W..E. C. Reid (secretary) explained that they had £241 lis 6d in the hank. The unexpended capital of £4OO was slightly encroached upon during the last two or ; three weeks' dredging. It was hoped that the returns would be made to pay. The dredgemaster had been very sanguine, and had hoped that if the dredge could get . round a " certain point they would meet some better ground. As the" returns came down the directors didi not see the use of expending money, and decided to suggest liquidation. The only other asset was the claim and the dredge. There was/some talk of a syndicate at Waikaia working it._ The company' had paid £6 13s per share during its lifetime amounting to a total of £33,250. The actual amount of gold won weighed nearly half a ton. The motion providing for liquidation was carried, and Mr Reid was appointed liquidator. It was decided to offer the dredge and claim by tender.

WORKSOP DREDGE. The supervisor of the Worksop dredge, in his weekly report, stated: "I beg to report a good run 12-5 hours, again from the centre of the cut, for a return, of 128ozs 14dwts. This goes to prove that the run °f gold is getting stronger, ,and goes further out towards the river. The ground is similar in depth to last week, and has every indication of keeping the same for some time—at least next week's run on the inside section next the solid ground, which we are leaving for the return cut, and we are expecting a good return providing we get a good run. The ground is now being worked in three sections. Everything at the dredge is running in good order."

CABLE NEWS

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