OTAGO NOTES.

Press, Volume LVIII, Issue 11154, 21 December 1901, Page 5

OTAGO NOTES.

(SPECIAL TO "THE PBESS.") DTJNEDIN, December 20. The Gold Deposit Company's dredge is •waiting for the river to go down to get a start. The Royal Maori Company's dredge will wash up this week, and then close down until January 6th. The market exhibited a steady tone this morning, which might be explained as resulting from the , almost immediate closing, of the Exchange doors for a fortnight, and. the consequent desire to get "parcels" at the lost moment. The market will not be tbe. same when members reassemble on tbe 6th prox. The Roxburgh Jubilee Company appears to be in •an awkward predicament, and unless tho shareholders rally round at the meeting on Monday it ia not unlikely that the concern will fall into a further state of despondency. The sum of £2000 is urgently dequired to finance the company through. , to a working stage. Debentures (400 of £5 each) were authorised -to. be issued,, but only £600 worth, have been applied for. . The pontoons still remain in tine same, position in which they were pulled up, but haying been repaired, directors are now awaiting the arrival of the boiler from Chrietchurch. The Kawarau Bridge Convpauyte share-, holders recently decided to go into liquidation with a view to -reconstruction on a small capital. .The' old shareholders, bowever, have not transferred their' generous affection to the- proposed ne.w company, having applied for 11C0 shares only out of 2000. Tha balance of 900 nave since been - plafced in the broken' hands to deal with, and outsiders ■ will now have a chance of coming

in. . . ■ ':-;;' The directors of the Hartley and Riley, Company have decided to suspend operß.tione.end close the dredge down until a. more favourable triver .-obtains* They' have lately been working right into the. punk at ,a -point towards the top end of the claim, and are satisfied now, that it won't pay expenses. The intension now, is to put the machinery-in. thorough wcarkizfg Order, and then drop down about 150 yards on to some maiden, ground. The dredge will .not resume till the beginning of February. ' > The Prince Albert Company's dredge.bottomed at. SOft, and had to stop' to repair a breakage to the machinery. Gold was showing on the mats when the mishap occurred;