THE GOLD DREDGING BOOM.

Press, Volume LVI, Issue 10381, 26 June 1899, Page 2

THE GOLD DREDGING BOOM.

(_*B_ess iLsaocrjjnox* tct-W-um.) - ■. DUHiiDIN, June 25. Speaking' to a special. reporter of the Star - ooxweraitfg, toe Electric synC-leaWs operations at Eawarao river; Mr McsGeiiffge, one of tho party, sqys the Company |;was farmed in Jaaauary, 1895, with a capita, of -82-400, and the dredge was' hifilt by September. When a start was-made the rivet was in flood. Bad luck stuck to the ope? rations for a time. " Mr MeGreorge says';. — "There were calls to aneetj and expenses to ' qrrang-j for, and nothing in.sight. Some of our folk were more than once on the point of giving up. It would not have taken much to have made mc throw it up; but 1 wouldn't let it be.seen that I was getting dispirited. At last we' decided to slow down for a while, and wait till the river feu. When the water _ went down we had another go, aad the first week we got doz. This put us all in high spirits. From that point our prospects improved rapidly, and in -nbout seven months we. had returned to us the extra capital that had.been called up. Our best return was found just ahead of where we_ are now working, when we got the big haul two years ago last March — 6co_oz of gold for five days' work. Two hundred ounras of that -we lifted in ten hours. We arc coming to that spot again. Immediately we began to get gold, we put on another for which No. 1 paid, the cost being £5000.'." Seven,weeks after No. 2 started, she had paid for herself. In the first three days she got 112oz; this time two yeara ago wo started No. 3, tlie Lady Ranfurlv. No- 1 and No. 2 paid for her. Before her machinery was set going she w«« paid for, and*we had a dividend as well. We dec_are a dividend as soon as the returns give us £100 a share. One wf-s declared last week." ix_e Matau dredge has obtained 130oz for the wejsk. June 24. The Blue Spur Company obtained 9700_* of gold for the June quarter. (FBSSS ASSOCIATION TELEGRAMS.) REEFTON, June 24. The following are tine quotations:—Alpine Extended, 6s 6d, 7s; Big River, 12s, 13s; Cumberland Extended, 9d, Is; Keep-it-DfJrk, 24s 6d, 25s 6d; Progress Mines (paid up), 28s, <-0s; Welcome (paid up), Is od, Is 6d; Croesus (Paparoa), 2s 9d, 3s; Buller Dredge, 18s 6d, 19s 6d; Consolidated Dredge, 10s, lis; Grey River, (vendors), 18s 6d, 19s 6d; Grey River (contributing), 5s 6d, 6s; Buller Junction Dredging Company (vendors), 5s Id, 5s 6d; Buller (contributing), 2s, 2s 6d; Electric Light Company. Is 6d, Is 9d; Groymouth Gas, £8 7s bd, £8 10s; Hokitika Gas, £5 3s, £5 4s: G-rey Brewery Company, 6s, 6s 6d. GREYMOUTH, June 25.