NELSON CREEK RETURN.

Press, Volume LVIII, Issue 10887, 12 February 1901, Page 3

NELSON CREEK RETURN.

(PRESS ASSOCIATION TELEGRAM.) DUNEDIN, February 11. The return from the Nelson Creek, West Coast, amounts to 490z for 136 hours.

(SPECIAL TO "THE PRESS.") DUNEDIN, February 11. Hartley and Rilcy and Vincent have resumed work, and good things may be expected from both these dredges.

stones or buried timber being present in The report and balance sheet wero adopted. It wns decided to increase the number oi directors to six, one of tvhom is to be resident on the West Coast. Messrs G. Uowroii and C. L. Russell (the retiring directors) were re-elected, and Mr J. D. " Gillies was elected the "West Coast director. Mr R Hill-Fisher was re-appointed auditor. On the question of the remuneration of the directors, for the past year, Mr Bussell pointed out that the Chairman had done a good deal of hard work. iuad had saved the company much expense in legal Mr Acton-Adams moved that the remuneration of the. directors be £70 for the year, the Chairman's remuneration to be double that of the other directors, and the amount to be paid each director to be decided by the directors. The Chairman said that, so far Sβ he was personally concerned, he was quite wiliiog to rank with the other directors. Mr Berkley seconded the motion, which was agreed to. A shareholder asked if it were intended to enforce the penalties on the contractors for non-completion of their contract within contract tame. Mr Russell said that four months ago the machinery contractors had showed him the machinery completed. The Chairman said that the contractors had misled Mr Russell. Mr Russell said the contractors had pointed out the machinery to him in their yard, and had stated that it was complete with the exception of a few articies, but that the whole would be complete vnithin contract time. The Chairman said the directors would take the necessary steps to enforce the penalties. This closed the proceedings.