MINING NEWS.

Evening Star, Issue 11267, 14 June 1900, Page 2

MINING NEWS.

A meeting of shareholders in the Golden Gutter Dred«ing Company was held ]ast night, in tlio board room of the Agricultural Buildings, and after discussion it was resolved -" That tbe directors, having bored and foiiud the claim unpayable, the vender be asked to further prospect the claim at his own expense under the supervision of the cnmpiny's engineer, and report within one month, failing this being done the directors take the necessary steps to liquidate the company." Mr D. G. Davidson stated that in the event of the company going into liquidation he would refund £SO of tbe commission charged for floating the company. The Alexandra Eureka report a return of 330z for the week ended June 9. During May the Whangamata (Auckland) .Gold Corporation treated 750 tons ore for bullion valued at £1.041. Mr J. F. Harper, secretary of tbe OUroa Gold Dredging Company, informs us that Barclay and Co.. contractors, have the Enterprise Gully dredge dismantled and ready for removal to thri'r claim at Otania The contractors expect to have the whole of the plant on the Otnma claim within three weeks from date, and the re-erection will take about two months from that date. The secretary of the Golden Standard Dredging Company reports that the directors have accepted tins tender of Duncan, Stewart, and Co., Glasgow, for the machinery of the dredee, and that they hope to have it in about four months' time. Tnibuilding if the pontoons is well in band, and the engina and boiler are on the way out. They expect, to have ihe dredge completed and in full working order about Christmas. Mr W. E. C. Reid (secretary of the Mikonui River Dredging Company) informs us that Mr F. W. Payne, the company's engineer, reports th .t the plans of the drerigd are practically finished. The dredge, as desijrned, will dredge to a depth of 33ft, is fitted with an elevator, and has a bucket capacity of 4} cubic fee'. The engine is a sixteen horse-power, and the furnace is suitable for burning wood. Tbe dreige will combine all the latest improvements. The directors have instructed Mr

Payne to take immediate steps to procure tenders from America for the whole of the machinery, it being understood 'hat the nccessw material can be. shipped from New York direct for Wellington "il Vi i!' r raont ' l3 fro,n acceptance of tenders. •Should the American offers pro e suitable, the dredge should he at work within nine months. Mr .lames Brown, stcretary of the Point d'Or bold Dredging Company, informs us thit the directors have succeeded in arranging the pureh se of a portion of the rive<- fronting the company s claim. This piece of river is a Uttle over fifteen chains, and has a good open the wlml- length. The directors were glad to secure tins frontage, as, in addition to being a valuable dredging property in itself, it will greatly facilitate nccess to the main ground. The claim is situated between the Royal Maori and Rise and Shine claims, and the latter company having recently bored their ground were able to prove the existence of a fine layer of payable wash on the bottom. It has also been arranged to put bores down on the Point d'Or claim in order to ascertain the depth of the wash.