COMPANY MEETING.

Auckland Star, Volume LXIV, Issue 73, 28 March 1933, Page 3

COMPANY MEETING.

MATAKI GOLD DREDGING. REPORT BY DREDGEMASTER. There were over thirty shareholders present to-day at tho annual meeting of the Mataki Gold Dredging, Ltd. _ Provision was made for tho election of a Hamilton director. No appointment was made, but as the chairman, secretary and dredgemaster are going to Hamilton to-morrow to meet local shareholders, an appointment will be made then. Messrs. C. L. Mahonoy and H. Curd, retiring directors, were re-elected. The dredgemaster, Mr. R. 0. Speed, gave an explanation of the working of the company's new dredge. He said the company now had a first-class plant; and though the initial cost had been somewhat heavier than was first expected, the extra outlay would be made up later, as the cost of repairs would be negligible. He stated that the dredge would be capable of turning over 20,0G7 cubic yards of dirt per week, and with that huge turnover the proposition should be a paying one. Mr. Speed then explained how the dredge worked, and said that under the system of gold saving adopted 05 per cent brought up by the buckets would be retained.