THE PROFITS OF DREDGING.
In a recent issue of the Alexandra "Herald" it is stated are eleven dredges working on the Clutha river within a radius of eight miles of the township. In one week they gave a total yield of over OOOoz, which was valued at £2316, or an average of £2lO lis per dredge. As £SO is more than sufficient for the week's expenses, there was a profit of £1766 on the week's operations, or an average profit of over £l6O per dredge. The total nominal capital of the above-enumerated companies is £63,500, so that the profit of the week's returns gives within a fraction of 2"£ per cent, per week, or 130 per cent, per annum. These yields are by no means phenomenal, the returns for several weeks latalv having been larger than these quoted. Had the returns from the Hartley and Riley, the Alpine, and the Magnetic been included in the foregoing; calculation the average profits would have been considerably larger over all the dredges named.
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New Zealand Mail, Issue 1440, 5 October 1899, Page 53
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170THE PROFITS OF DREDGING. New Zealand Mail, Issue 1440, 5 October 1899, Page 53
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