THE WEST COAST.

Evening Post, Volume LXIII, Issue 87, 12 April 1902, Page 4 (Supplement)

THE WEST COAST.

In contrast to a good nfany' dredging companies tho record of the Ncisou ' Creek Company has -been a splendid success from the beginning of operations, while the, prospects at .present are probably brighter than ever before. The dredge commenced work in January last year, and in tho space of 15 months has paid 9s 6d dfvidends, or nearly half tho capital. Tho eighth dividend, amounting to 2s per share, has now been declared by the directors, and was payable on > Friday, 4th April. This dividend meansa distribution of £850 among shareholders, while the tofe* sum paid back this way is £4037 10s, in addition to which a debit of nearly £1000 which existeel when work was started, has been wiped • off, and a reserve fund has also been croated. The fortunate shareholders in this company will have received, when . the latest dividend is paid, 3s 6d per share ins tho last two months. The dredgemaster of tho Leviathan dredgo (Mr. Donald Sutherland) reported under date 19th March that he was very hopeful of good returns for some time He hoped to open out a face of threa chains in width, which he will follow up the two leads of gold which from here on are unworked for some 12 chains or so. Continuing, he says : — "Judging from your letter, you seem somewhat alarmed - at the prompt turning of dredge from and leaving Morice's ground, in the face of returns of 430z and 360z. It may seem strange, but the last 40 hours we worked in this direction w© would have been better lying idle. And, as explained in previous letter, the payable ground was too limited to go jiorth again." • Poctolus's 113055 for 12b" hours is most encouraging to shareholders, especially in > view of tho fact that by June tho second dredge should be at work.