WEEKS MINING NEWS.

Lake County Press, Issue 978, 5 September 1901, Page 5

WEEKS MINING NEWS.

Eight dredging companies, representing a capital of £72,100, on the, Wast Co:tSt, are at present in liquidation. The deputy-master of the Perth mint reports that the total receipts of gold at the mint for the year 1900 was 581,200'z, and for the half year ending June 1901 it was 187,7090z. There was & steady increase in the quarterly receipts during all the period. The mint was opened to the public on 20th Jdne, 1899. The total issue for last year was £1,945,777, and for the six months of this year £612,029. Mr M'Gowan has dr fted a CNal Mines Act Amendment 15iU. In this there is a clause providing for the reduction of the royalty on coil. It provides that there shall be reserved a royalty of not less than twopence, nor more than one shil ing, per ton on the output of all marketable coal raised under the powers of the lease, and such royalty shall not be payable on any ui.saleable, waste coal, or rubbish. The right of the inspection of mines i)_\ miners is extended. In the old A;t the unions could appoint two of their osvn number to inspect a mine. Under this Bill provision is made for their appointing outsiders, if they ho desire, and such m«n an; to he at liberty to inspect every patt of the mine, its machinery, and workings once at least in every month Several important amendments have lii-en mad' l in the Companies l>ill by the Statutes Revision Committee with the indention of still further safeguarding t In- public. It. is provided ih it directors must pay up to tin allotment call befoie any shares are allotted to the public. Directors may i. u fui I'eit an} :,!.ai, ■:, c-> ~-ue i'ui uU) calls unless Ihev themselves hive paid

their cal s, and in any } rocecditigs against shareholders for payment of call, it tnuit 1> ■ a c mdition precedent to judgment b-dng given that th<' directors have duly con.plied with the provision mentioned. Wi ! h rrgnri to auditing, powi r is yiv.-n to the Audit Offiice to au lit the accounts of any company. The committee have amended the clauses referring to the wi.iJinj; up of companies 1)/ the Court by providing that the winding up shall be done by the official assignee instead of a liquidator appointed by the Court or by th" company.

DREDGING RETURNS. 07.. tlwt Electrio 204 0 Crcmwell - J97 4 Junction Electric No. 2 ... l/>7 0 Fourteen-Mile Reach ... 112 4 Junction Electric No. 1 ... 112 0 Mamihfci'ika ... ... 03 17 Clyde 88 0 Monte Christo 82 S I'ereevi. ranee .. ... 72 8 Enterprise No. 1 ... ... 62 1 Alpine Consols .. ... 48 ) E.npre 48 0 Kmiecleugh No. 2 ... 44 15 Electric Extended ... 42 10 Golden Gate 39 0 S titers Bend 38 0 Majestic 37 10 Success 36 2 Alpine No. 2 ... ... 35 2 Hartley and Riley ... 34 11 Mai an 34 0 Clia-ll.,1) Creek 33 0 Waimumu Central ... 32 1 Earnscleugh No. 1 ... 29 10 Molyueux Hydraulic ... 26 10 Otago 26 5 Teviot 25 12 Central Charlton .. ... 24 4 Waitnuinu Queen ... .. 23 0 Unity 23 0 Olrig 20 9 Gabriel 19 10 Colden Beach IS 10 Spec Gully 17 4 Central Mataura No. 2 .. 15 4 Chicago 15 0 Magnetic 15 0 First Chance 14 1 Paul's Beach 13 9 Boundary Creek, Clyde ... 13 0 Dunb.ick ... ... .. 11 7 Golden Treasure ... ... 110 Bannockburn Creek ... 9 15 Lawrence ... . . ... 9 5 White «tar 7 0 Arrow Junction ... ... 6 10 Gibb's Beach 5 0 Naumai ... .. ... 4 0 Wkst Coast. Al 35 10 Three-mi e Greenstone .. 17 10 Leviathan 15 8 Gre.-nston: Junction .. 11l Grey River 110 l'actolus 9 11 Maori Queen 9 5