Pactolus Gold Dredging Coy.

Grey River Argus, 9 October 1905, Page 3

Pactolus Gold Dredging Coy.

The repnrfc of the direetorsof the Paotolus Gold Dredging Company for the half year ending September 220 d states that the gold won during the period amounted to 2,2190zs 14dwt, valued at L 8,780 8a 6d, making the total for the year 3,5660zs sd\vt, valued at L 14.076 7s Bd, Dividends to 9s per share have been dc-clareJ, making a total of 12s per share for the twelve months. The amount thus distributed totalled L 7,500 for the year. In addition L 550 has been set aside as a Eeserve Fund. To the date of the report the total yield of gold was 11,6810zs 18 dwts Sgrs, valued at 1*46,130. and divi* donds declared amount to L 12.187 10s. The area worked is about 60 acres or about one»third of the company's claims. From the returns obtained by other dedgesinthe locality the directors believe that the wholo of the top claim will yield handsome returns'for the next five years at leas'-, Both dredges are in excellent repair, having undergone complete overhauls. The directors are satisfied th.it in Mr Cowan they have a dredge • master of exceptional experience and ability.