Dredging and Mining.

Cromwell Argus, Volume XLIII, Issue 2285, 19 February 1912, Page 5

Dredging and Mining.

Favored with a low river most of the dredges are at work, but the returns are on a very low scale. The 909 has been dredging for the past ten days on maiden ground, and at times was on fair prospects on soft bottom, but patches ot hard reef with poor prospects intervened, and the return was small. As the ground was dipping ah<jad and the river rose slightly the dredge has been closed down until the river is more favorable. Shine I was on poor patchy ground during the week and the return showed a considerable decline. The Punt is expected to be in commission again during the present week. The dredge has been idle pending the arrival of some necessary gear. Electric II is still undergoing repairs, being fitted with new framing by Messrs Miller Bros. Prospects were poor with the Hart ley and there was no wash-up. The ground in the beach did not turn out up to expectations. The dredgemaster of the Rising Sun reports for the week ending 17th February as follows :—Dredged 119 bours and worked ahead 12 feet on a cut 100 yards wide Ooe day was occupied changing the bottom tumbler. No change in tbe nature of the ground or bottom. The machinery is running well. The KisG and Shine Company have decided not to purchase the Golden Sun dredge, but no information is to hand as to what steps will be taken to replace No 11. The Carrick Reefing Company is at present on .very satisfactory pros pects, having struck promising reefs in several places, and the battery will probably be at work again this week. The statement of tbe Ctewe Gold Dredging Company for the year ending 31st December, shows that the company was registered on September 1902, with a capital of 5000 shares of one pound each, of which £2OOO was paid up in cash, scrip valued at £3OOO, on which 'no cash has been paid, being given to shareholders. The number of shareholders when registered was 18, and the present number 19. Fourteen men are employed by the company, and 91840zs 3dwts 18grs of gold, value £35,379 13s Id, have been,,produced, the total for last year being 1018ozs 9dwts 9grs, value £3908 Gs sd, at an expenditure of £3609 0s 3d. The total expenditure since registration is £30,391. Dividendsdeclared since registration total £6375. Other items in the statement are : Cash in bank £516 17s 2d, on deposit £962 2s 2d; cash in hand, gold 12ozs 2dwts, value £46 8s 8d ; debts due to the company and considered good £77 ss; debts owing by the company £317 10s lid. DREDGING RHTURNS. Rising Sun . • .. 'l3 8 909 ' .. .. 2L 13 Shine I -'0 0