MINING NEWS
CLUTHA RIVER PROFIT YEAR'S EARNINGS £21.992 LONDON. June 29 V The directors of the Clutha River Gold Dredging Company, Limited, have announced a profit of £21,992. The accounts of the company are made up to March 31 and tht) last balancing date is the first since the dredga commenced operations on May 1, 1937. Returns have been consistently, good since the commencement, but at one. period they became exceptionally rich, a record yield of 4330z. for 126 hours being secured for the week ended October 1, 1937. 'The company's issued capital is £200,000, and is mainly financed by British interests. "The first dividend of lAd a share of 2s, equal to 6i per cent, was paid in February last. The company's claim extends from the junction of the Manuherikia with the Molyneux (or CI River at Alexandra (Otago) throirgnSJhe Alexandra gorge to the junction with Coal Creek, a total area of 496 acres. YIELDS OF COMPANIES Molyneux (Otago). For' period ended June 25 a total of 151oz. fop 221 hours.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/NZH19380701.2.35
Bibliographic details
New Zealand Herald, Volume LXXV, Issue 23078, 1 July 1938, Page 7
Word Count
172MINING NEWS New Zealand Herald, Volume LXXV, Issue 23078, 1 July 1938, Page 7
Using This Item
NZME is the copyright owner for the New Zealand Herald. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons New Zealand BY-NC-SA licence . This newspaper is not available for commercial use without the consent of NZME. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Acknowledgements
This newspaper was digitised in partnership with Auckland Libraries and NZME.