MINING NOTES.

Mataura Ensign, Issue 1037, 24 May 1902, Page 2

MINING NOTES.

CHARLTON CREEK GOLD DREDGING COMPANY. The directors of the Charlton Creek Gold Dredging Co. will present the following report for the year ended Apvil 30 at the annual meeting of shareholders : "In submitting the report, your diree'ors regret that the returns have not been quite so large as during the preceding year, but are hopeful of an improvement shortly. The amount of gold won was 9940z 15dwt 18gr, valued at £3870 12s 10,1, as against 1210oz Gdwt lgr, valued at £4731 0s Id for the previous year. The dividends paid during the the year amount to £IOOO, making a total of £2575 paid in dividends since the dredge started working. During the year the dredge was stopped 2b' days for repair.-, etc., exclusive of eight days' holiday at Christmas. The amount of gruund worked in 12 months is estimated by the dredgemaster as nine acres. The expenditure on fuel and wages sho .vs a saving on the iwo items of £2(10 lis 9d compared with last year's balance sheet, and the heavy expenditure on maintenance wn necessitated by having to obtain a set of new buckets, pins, and tumblers. Your directors also regret that considerable expense was incurred owing to riparian disputes being raised by landowners in the district, but are pleased to inform you that, after frequent applications to the Government, they have intervened, and a settlement of this vexed question between the landowners and mining companies interested has been arrived at, and a sludge channel is to be constructed. The retiring directors are Me.-srs C. G. V. Lcijon and T. Green, both of whom are eligible and offer themselves for re-election. The auditor, Mr A.Bartleman, also retires, but is eligible for re-election."

The year was commenced with a debit balance of £42 4a ad, and the expenditure during the 12 months reached £2902 8s 0 i, or a total of £21)94 12s lid. The gold yield was equal to £3870 12s lOd in cash, but att-r making allowance for the payment of £IOOO in dividends there was a debit balance of £124 0s Id to be carried forward. The liabilities at the time the books wore closed amounted to £320 0s -Id, against which there was £2OB lis 5d cash in the bank, and £2O in the hands of the dredgemaster.