GOLD DREDGING

Dominion, Volume 21, Issue 290, 7 September 1928, Page 9

GOLD DREDGING

GOLDEN TERRACE COMPANY. ’ Shareholders of the Golden Terrace Extended Gold Dredging Company met on Wednesday night. Mr. J. Holloway presided. The chairman, in tracing the development of. tile company, said that everything was now going on satisfactorily. The company had had the claim tested by the expert who had bored the successful American Held at Rima Flats, and also had cheek bored it. An up-to-date dredge had been purchased. The company held 050 acres, which included 5 miles of the riverbed. ' Mr. R. T. Wilson pointed out that 250 million pounds’ worth of- gold had been mined in New Zealand, and declared that this country was on the eve of a revlvd! of gold dredging, due to the success of tlic American concern at Rimu Flats. Thirty million pounds’ worth of gold had been won from the Shotover River in the vicinity of the claim. Some years ago a 10-acre claim had returned £2 per £1 invested. with an old dredge which must have, dropped 50 per cent, of line gold.

Some New Zealand visitors have apparently been showing Australian light harness circles points at the game. Owner j.r. Young and horseman S. M. August, who recently arrived from New Zealand with a'team of horses, made a killing first up (says the Sydney “Sportsman”). It might imve seemed a bit silly to take a horse to Richmond and show him up for a paltry £l5 prize, and the books evidently thought It improbable, and took liberties accordingly. A cleverly placed commission went on Lord Lu, who tn the end went out at. a short, price. S. M. August in the saddle, jumped Lord Lu out. and that, was the end of the chapter, as he Avon pulling up, in 2.2:1.