MINING NEWS.

Alexandra Herald and Central Otago Gazette, Issue 352, 5 February 1903, Page 4

MINING NEWS.

The river has fallen about 18in i during the week, the height at Alex-1 andra last evening being about 6ft above the " normal" mark. The Golden Beach sank in her paddock last Saturday morning. It is thought that the hull took a list, and the water entered the pontoons through the seams that were previously above water. The manager Mr (Mr Poulter) lowered the level of the paddock, and rigged up hydraulic pipes, with a considerable pressure, by means of which the pontoons could be pumped out. The pressure was turned into the pipes yesterday afternoon, and it was expected that the dredge would be floated last night. On Thursday afternoon last, Mr E Eaton, engineer on the Perseverance No. 1 dredge, met with a rather nasty accident, that will incapacitate him for a month or six wef-ks. It appears that Mr Eaton ascended the elevator to adjust the wire connected with the electric lamp at the top of the elevator, when by some means his foot was caught by the elevator belt and jammed against the angle iron at the side. The result was a nasty flesh wound, and it was found on examination that the bone was slightly grazed. Dr Gregg dressed the wound at the dredge, and the sufferer was then taken to the Dunstan Hospital, where he is progressing satisfactorily under the care of Dr Hyde. We are glad to say that the accident 'is not so serious as was at first reported. The extraordinary general meeting of shareholders in the Old Dunstan Dredging Co., held at Clyde last Saturday evening, to consider the position of the company, resulted in the directors' proposal for reconstruction being negatived. Another meeting takes place on the 14th inst., when two proposals will be submitted l —one for liquidation, and the other to reconstruct the company with a - nominal capital of .£SOOO, the contributing shares to be placed on the open market, and each shareholder to receive one paid-up share for every contributing share subscribed—the actual capital being thus only .£2500. The Premier, speaking on the dredging industry at Westport, expressed the opinion that the industry had come to stay. It had been handicapped by the bungling of engineers, and he looked forward to the time when it would be developed in a proper manner. He also said he did not believe that the quartz deposits were confined to Reefton alone, but that private enterprise was doing nothing to develop quartz mining. It amounted to this, that in the interests of the people the State would have to do the prospecting itself. The Unity dredge resumed work on Tuesday, near the upper end of her claim.

The following items are taken from the "Cromwell Argus":—The Loch Lomond Co, has been successfully floated, and in a few days shares will be allotted. This company owns a claim on the Fraser River, and has purchased the Shepherd's Creek dredge which is well fitted to work the ground. —The Royal Maori was idle last week pending the arrival oi a new spur wheel. Advantage of the delay was taken to give the machinery a good overhaul.—The Cromwell No. 1. started dredging last week and did not bottom till the middle of the week. When she gets properly opened out, her usual returns may be looked for.— A start will soon be made with the erection of the Rise and Shine No. 2. The first load of timber from the late Arthurs' Point pontoons is expected to arrive on the building site this week.