MINING NEWS.

New Zealand Herald, Volume XLVI, Issue 13948, 2 January 1909, Page 3

MINING NEWS.

', GOLD DREDGING IN OTAGO. } THE YEAR'S REVIEW. ', A DECREASED YIELD. ["*" TELEGRAPH.— OWN CORRESPONDENT.] ", DUNEDDN, Friday. *' The year 1908 has passed without any . remarkable developments or happenings J worthy of special note in the mining in- . dustry of Otago, and as a consequence, • public indifference to mining affairs has • become more or less noticeable. There ; has been a diminution of some 7000oz or , 8000oz in the year's yield from public ' dredging companies in Otago, and while - this may support the general opinion that I many of the claims on the Mnlyne-aux River are getting worked out, it has to be remembered that gorge dredges did very little work at night, and probably would, with a good season, have swelled the total considerably. No doubt there is still a great deal of country to bo worked on the Waikaka and Upper Clutlia fields, though signs are not wanting that the Waikaia field has seen its best days. During the past year many of the companies working in that locality have been forced to go into liquidation But this was not unexpected in some cases. Others have been obtaining returns that can scarcely pay expenses, and are, therefore, not expected to continue long. On the whole, however, the Waikaia field has been, as it was last vear, most consistently remunerative and some excellent returns have been obtained. The Waikaia dredge, which secured the return ot 2480z for one week hist April, thereby established a record for land dredging in New Zealand. 6 h The past season has been a most unfortunate one for dredges in the Molyneaux River, and particularly for those situated in the two gorges. .Many are of opinion Unit it lias been the worst over experienced by dredges working in Alexandra Gorge. Throughout the year an average of about ■M dredges have been at work in Otago and Southland, or, five less than were, in operation during 1907. The, total gold Yield /7 7^ Pro -- J°' 222 °*. as against S'?«^° Z • m l i^ 7 ' 52 > 6 5 2 <« in 1906. and 77,1870z in 1905. The dividends paid by dredging companies, as recorded on.the stock list of the ?2SS 1 ,* tock Exchan ge, amounted to ioo,wu 16s, or an increase of £4080 on the corresponding amount for the previous year. It is estimated that the total amount paid in dividends by both public £100 P 000 com I ,anies mus " fc be about