MINING MATTERS.

Evening Post, Volume LXIV, Issue 119, 15 November 1902, Page 4 (Supplement)

MINING MATTERS.

OTAGO NOTES. The Kelly and Casey dredge is to wortt the Great Central ground on tribute. After payment of working expenses, twothirds of the gold will go to the Great Central, and one-third to the Keliy and Casey Company. Alexandra, Lead, Alexandra, 108oz, and Junction Electric, Cromwell, 960z, head last week's returns. The annual report of the Otago and Southland Gold Mining Industrial Union of Eniployei^s, laid beiore the union's an* nual meeting, is a colourless document. A fair quantity of work has been attempted, and little done. Not unnatu-i rally, some slight question as to th« union's raiscm d'etre was raised at the meeting by one member, who thought some companies had an impression that; the union was not of very much service. Mr. Sligo and others replied to the opposite effect, and the Secretary stated that no company had withdrawn save those that had gone into liquidation. Tk§ membership is now 68. Referring to the Arbitration Court's award in the dredgemen's dispute, the Committee reports that the only alteration m existing conditions is the fixing of 10s per shift just above Roxburgh, bridge, 9s below the bridge, and 9s at Waipori. AH overtime has to be paid for in future at the iate of time and a quarter except where the overtime U rendered necessary by breakdown of th« machinery or other special emergencies damage to property or danger to Me. The award includes an incompetent workmen's clause and th« usual .clause re no discriniina, tion against unionists. The Committea further reports that an attempt to brina rZT^WS? 8 " byb v f ° re the Arbitration^ Court failed through an informality of the citation. The President stated that the employees had not gained very much through the avoid, which effected very, little i alteration in the conditions except at Wajpori. Dredge wages are exceptional, and continue to attract a number of applicants. The union has tried, so far unsuccesafully, to induce the banks to pay more for gold and charge l ess for assaying, to induce the insurance companies gent? rally to reduce rates, and to quicken Government trains on the Otago Gentral line. It is reported that some of the restrictions of the Companies Act hamper business, and that an effort will be made to amend them. Members agreed that representation of the union, before , the Arbitration Court had been very effective. A motion was carried recommending the Executive to endeavour to institute a system of granting dis* charges to the men employed on dredges in the same. manner as obtained in shipping. The mover s.iid if this were adopted employers would have a better guide when employing men, while ife would also act as a w.aolesome check ou the men thmEeives. Matau, Electric No. 1, and Meg and Annie (repairing)* and Gentle Annie (removing to bottom of claim) did not wash up last week. A meeting of Directors of the Tinkers Gold alining Company was held at Matakanui on Saturday, Ist November, and after paying all known liabilities, a dividend of 6d per share was declared, and a sum of £230 cawied forward to th« reserve fund. T2is is the third dividend paid within the last few months (says the Otago Daily Times), and shareholders may look forward to regular dividends in future, though, of course, a good deal depends upon the water supply. Thi« is the company that was in the uniqu* position of paying a dividend prior to registration. The capital of the company is £15,000 in £1 shares. The breaking of the Endeavour's ladder is particularly unfortunate, as better ground had been struck with a prospect of further reducing liabilities. The sinking of the Inch Valley dredge was caused by a stone being jambed be-, tween the buckets and the pontoons, tha planking of which was burst asunder*' Beyond the loss of time the cost of raising the dredge will probably not be very heavy. ' The Tuapeka Dredging Company's bal-ance-sheet shows, that the year was commenced with a. debit balance of £205' 16s 8d to profit and loss, and the expenditure connected' with carrying oa operations amounted to £1516 9s for the 12 months. The gold yield repre, sented a revenue of £2307 15s 7d, s> that after providing for the foregoing' and also paying £420 jn dividends, there was a credit balance of £167 9s lid to be carried forward. Lafrancfhis Freehold won gold worth £505 6s during the half year ended 30th k September, which is £30 in excess of expenditure, and the total debt now stands at £953 6s Bd, a burden which it should not take very long to get rid of. It is claimed that the company's position has been much improved by the action of the directors in adopting water as the motive power, as by this means the construction of the dredge only cost £4477 18s 9d, while the cost of running the dredge is small as compared witS other dredges.

Concerning Golden Run Company-* whose annual meeting, also some complaint by shareholders as to delay in taking the dredge from the Golden Gate on' to the company's own ground, were lately touched on— a "Country Shareholder" writes to the Dunedin press: — "I hope that after the protests that ha.ye been, made the dredge will now be put on to work her own cEiim and get out of debt, and give us poor shareholders a little of our money back again, instead of wearing out the dredge under the present arrangement, for the benefit of the shareholders of the Golden Gate Company. lam quito sure all the Run Company is getting at present does not pay wages and wear and tear on the dredge. The Gate Company; has got all the best of the bargain."