MAORI GULLY DREDGE

Grey River Argus, 28 May 1935, Page 6

MAORI GULLY DREDGE

Meeting of Company The annual meeting of the shareholders of the Maori Gully (Kokiri) Gold Dredging Company, Ltd., was held at Greymouth last evening, the chairman of directors, Mr J. M. Bunt, presiding over an attendance of about forty shareholders. The chairman stressed the sound financial position of the company, with £-2540 in the bank, and only small commitments to be met. The estimate for the building of the dredge and incidental expenses, £14,500 had been exceeded by only £4O. The dredge had got four returns, but they had not been for full weeks. The full weeks had averaged 54 ounces of gold per week. After discussion the annual report and balance sheet (as previously published) were adopted, on the motion ■ of the chairman and Mr H. A. Martin. The election of directors resulted in the retiring directors, Messrs W. Hill and H. A. Martin, being re-elected. Mr E. Souter was re-elected as auditor. The directors 1 remuneration for the past year was fixed at £250, to be ditided among them as they may think fit. The remuneration for the ensuing year was fixed at the same amount. The chairman reported that the dredge had been taken over by the Com [any from the contractor, and that work had recommended at midnight on Sunday. At a subsequent meeting of the directors, Mr J. M. Bunt was re-elected chairman. _____