BLACKWATER DREDGING COY.

Grey River Argus, 30 December 1914, Page 2

BLACKWATER DREDGING COY.

ANNUAL REPORT

The directors will submit the following report to the annual meeting •of shareholders : —

"The Directors submit half-yearly balance-sheet and profit and loss account to November 30th, 1914.

"After a long stoppage of work, owing to the sinking- of the dredge, operations were resumed in the beginning of June of this year, and continued until August 7th, when she again sank, this time while at work, from some unknown cause. Fearing thait some structural defect in the dredge was responsible for these accidents the Directors decided to get a report from Mr. H. F. Nees, who, after inspection of the pontoons, failed to detect anything definitely accoun ing for the trouble, but made various ( suggestions, some of which have already been carried,, out. The yo,rk of raising the dredge having -been accomplished, dredging^ started again on ! November sth, The last five weeks' dredging has given an average return of about 12 ounces per week — an amount not sufficient to cover work

ing. expenses. _^. # "The heavy expenditure caused by the two accidents followed in quick succession has .absorbed the whole of the Reserve Fund, and at the present time the cash in hand will barely meet the liabilities.

"The dredgemaster reports that ihe ground continues poor, but in view of the fact that the spot where the shaf, showing a different wash from that now being met with, was put down, lies not far ahead, there may be a prospect of improvement. At present the Dunedin Board is consulting with the Directors on the Coast as to what future steps should be taken. .

An Auckland resident, who is on a visit to London, and saw the New ?. ealandcrs now training in England pass through the city on the day of the Lod Mayor's show, has rather a good story to tell. As the New Zealanders were marching {vast he coold not resist tho temptation to give them a safutation, so he called out: "Teuakoo, kiii kaha niu Tireni, Whawhai maiea, nro to Kaianga! " To his astonishment, irom a distance of twenty yards away n: the crowd, came a voice supplementing liis salute Avith "Ake, ake, ake! " People round about stared at him, and one lady asked-: "Is, that the New Zealand language?" He replied: "It is Maori, madam.". She commented: "Dear, dear, what a pity the English Government don't arrange to teach the New Zealanders English, especially as they are such a fine, smart-looking lot of men." ,■.''. * • • =