WEEK'S WINING NEWS.

Lake County Press, Issue 1063, 7 May 1903, Page 5

WEEK'S WINING NEWS.

At a meeting of shareholders in L-ifr>iiciii'.-i Freehold, Cardronn, Mr S. N. Brown, chairman of directors, prvsidod, and in moving th* report and balnnc<-sheot said unavoidable delays lial pre\ented a satisfactory run being obtained from the dredgeuut.il October of last year. Since then the dredge had don* fairly veil. The returns had not been what worn expected, but this was accounted for by the fact of tin: very small portion of pround worked. Only about an acre had been worked, owing to the extreme tightness of the ground ; but for the area tho wash had boon rich, for 572 z had been won for the aero. No doubt had three times tho area been tnrnod over the returns would havo been very satisfactory indeed. When the dredge commenced work the finances of the company were in a very critical condition and numbers of companies were going into liquidation ; but the directors worked with a will, and kept the company going, with the result that they were now practically free of debt. The directors found the water power working most satisfactorily. The tight ground had been a terrible drawback, but tho directors had procured, and had fitted, a breaking-down plant, which they believed would bo an immense advantage. Some difficulty had b»en experienced with the silt, and a silt elevator had been provided, which met the trouble very well. Direct power had also been applied to the winch, and at the present time the dredge was thoroughly well equipped in every department. He trusted that the ensuing year's operations would prove very profitable to shareholders, and be believed thpy would. The following motion was carried at the meeting :—" That this meeting of shareholders express their hearty appreciation of the services rendered to the company since the inception, and particularly during a critical time in their history, by the chairmrn (Mr S. N. Brown), and authorise the director" to recognise these services in some tangible way aa soon as the finances of the company warrant this being don Q ."

DREDGING RETURNS. (>z. dwfc. Electric I ._ 133 12 Electric II 113 0 Junction Electric No. 2 ... 104 0 Hartley and Riley ... 05 9 E'irnsclough II 69 0 Otagoll 50 0 Upper Waipni ... ._ 50 0 New Roxburgh Jubilee .... 46 15 Enterprise II 46 11 Prince Arthur ... ... 4(5 10 Sandy Point 40 4 Dunstan Lead 46 0 Golden Run 44 7 Ettrick 43 10 Waikaka 40 13 Royal VVaiuiumu .. ... 38 5 Moa 37 0 Golden Gate 36 0 Cromwell 71 34 4 Lady Roxburgh ... .. 32 5 Ca : rn Trodlo SO 10 Waimumu Queen ... .. 30 0 Success 30 1 Empire I 29 0 Earnscleugh I ... ... 2S 0 Central Charlton ... ... 2S 0 Perseverance- I 27 14 Chicago ... ... ... 25 (J Waimumn 25 0 Waikaka Syndicate ... 21 0 Enterprise I 23 10 Happy Valley ... ... 22 7 Charlton Creek 22 2 Cromwell I 21 7 Waikaka Queen 21 2 Island Block 20 15 Perseverance II 20 12 Inchdalo 29 6 Endeavor 19 15 Spec Gully 99 10 MacCharlton ... ... 19 7 Enfield 19 3 Inch Valley 17 !0 New Golden Gravel .. 16 13 Gabriel 10 G Grand Junction ... ... 10 0 Golden Bed 15 17 Molvilfiux Hydraulic .„. 13 0 C.'.nt»l*lataura 12 2 Unity 11 0 Olrig ... .- .. 10 1 Golden Treasure 9 0 Ngapara HI ... ,~ 8 10 Lawrence ... ... ... 8 6 Now Teviot 7 13 Tauiwhl 6 12 West Coast. Mokoia 104 10 Leviathan 47 12 Is'o Town Creek ... .. 46 0 Kohinoor ... 40 9 Buller Junction 40 0 Nelson Creek 38 0 Three-mile Greenstone .. 37 2 Aldinga 25 2 Pactolus II 25 0 Erickaon's Reward ... 22 IS Black water River ... 22 11 Greenstone Creek... ... 22 G Feddcrson 22 0 Victory 18 4 North Beach 17 12 Reeves's Proprietary ... 17 10 Welcome ... ~ .. 10 6 Pactocus I ... ... ... 15 1 Cornwall 10 0 New Garibaldi .., ... 8 0 Wateraou'B-Ahaura ... 7 14