MINING NEWS

New Zealand Herald, Volume LXX, Issue 21561, 4 August 1933, Page 5

MINING NEWS

OKARITO DIVIDEND [BY TELEGRAPH —OWN CmRESPONDENTI DUNEDIN, Thursday At a meeting of directors of the. Okarito Five-Mile Beach Gold Dredging Company, Limited, this evening, a dividend of -20 per cent, equal to la a share, was declared. It will be payable toward the end of September. In March the company paid a dividend of 10 per cent. This, was the thinj, dividend paid," two similar distributor© having been made in 1932. Tho company operates in South Westland. Tho company reports .that as tne dredge was stopped for general overhaul during the greater part ot lass week, no return will be issued tnia week.

bell hooper operations > Bell Hooper Cromwell Cold, Limited, reports that lloz. 3dwt. of gold was recovered during the wees ended July 28. Operations were still, confined to development work. AO-TEA-ROA GOLD LISTED The Ao-tea-roa Gold Prospecting Company, Limited, Christchurch, has been added to the official list of the Stock Exchange. The company has a capital of £IO,OOO in 200,000 shares of 13 each, subscribed to £4OOO as follows: —30,000, fully paid up to vendors 50,000, applied for by the public; 11.193, paid up to Is;' 21,500, paid to 9d; 17,305, paid to 6d. The shares have previously been quoted on the unofficial list. KUALA KAMPAR OPERATIONS The profit of £4335 of Kuala Kampar Tin Fields, Limited! for the year ended March 31, which was published in a cabled summary of the:accounts on June 14, was struck after providing JS46JI for depreciation, though no provision for amortisation was made, • Tho directors' report, now to hand, states that as the restriction scheme developed, quotas increased in value, ana it was decided to close down both dredges, and transfer the quota to other members of the group. Tho dredges will be restarted ns soon as conditions warrant resumption of pr duction. The. possible salvaging an SSwtrnction if 3 <l™. 60 electrification of No. 2 dredge aie being considered.. The objcctive is equip the property with three "»" th •* •• bo.ancc, f. l^' 974 ' debt ° r3 '*,