MINING

Evening Star, Issue 16782, 10 July 1918, Page 3

MINING

ELECTRIC DREDGING CO. There is at pre?ent every prospect that ; tlie famous career of the Electric Gold j Ihaxbitii! Company, one of the few stir- | vivors since the davs of the boom, and one of the givat«t fold producers 0 f the Dominion, is almost at- an end (states the ■ f.-m,nv"!l Argus"). The No. 1 dredge still remains, and the directors were hopsful of having another season with this in.ich:ii-. !-at' the .ow state of the river; prevented the desired spot being reached : to undertake work for th.- present- season, i Sbareh'.kkrs 'mid now been circularised to i ,'itt'end a meeting in Dunedin to-dav. when ; a motion in the direction of voluntary liquidation would be submitted. In phcin<' the'position before sharehoHers Urdirectors state that suo-essi'id dredirmg would not- now be possible V.-fore M.w, 1919. and meantime a fair sum has to be iv.iri ammal'.v in rarctaking. <tc. On top i\f this there is now some difficulty in ob- | taink'" if en w. h-'-nce shareholders are: bfbx'Vdled together as st. ted to fully: rounder the position. Tt •s-euns reasonable \ to surmise that company will be wound j tip-

I'robablv the most interesting Mature to j shareholders of Goldsbrough, Mort, and j Co Limited, of the proceedings at the j annual meeting, held at Melbourne on i June 2-j, was the formalities in connection j with the bonus shares. The resolution relating thereto, worded as follows, was

passed without hesitation:— That it is desirablo to capitalise the sum of £70,273, part of tho sum of £77,807 mentioned in the directors' annual report of June 6, 1916, and bring also part of the undivided profits of the company accumulated prior to June 30, 1914, and accordingly that a bonus of 2s per share be declared therewith, and that in hen of such bonus being paid in -cash the same shall be satisfied bv the distribution of 70,<273 unissued shares of the company among the members in the proportion of one fullypaid up £1 share for each 10 shares held by such members respectively in accordance with their registered holdings on June 25, 1918." Needless to say, the consent of the Federal Treasurer to this operation has been obtained, and when it is completed the capital of the company will be £773,010, in shares of £1 each. Tho Talisman Quartz Mining Company report a, return for June -of £13,086 from 1,050 tons. ____________„