GOLD-DREDGING IN OTAGO.

New Zealand Times, Volume LXXI, Issue 4084, 23 June 1900, Page 2

GOLD-DREDGING IN OTAGO.

Tim VIEWS OF MR .1. .T. RAMSAY. ■A representative of the “Times” had a Conversation yesterday with Hr Ramsay, of thefirni of J..'). Ramsay and Co., sharebrokers. of Dunedin, who is on a. visit to Wellington in connection with his firm's business. Mr Ranisav was brought up on the Otago goldfields, had an intimate knowledge of the dredging industry, and is at. present engaged in connection with Messrs Barr, Leary‘and Co. in .mating the'Central Matanra Company, the. abridged prospeetus of wiiich anuears in tins issue. .Mr Ramsay, in the course of'conversation, expressed himselt as thoronghlj- satisfied that (he gold dredging industry in Otago would be a permanent one. • He states that the present return of gold from thir-ty-one dredges in Otago averages weekly over forty ounces, .which means a return equal to Cdaf djf oiie dredge per week. His firm hasfijiveii considerable attention to tho Waikaka and Matanra districts, and he informs ns that so far every dredge on Waikaka has turned out highly satisfactory. The dredges there so far are owned by private companies, but the returns have averaged from 20 to VO ounces per week, and the whole valley is auriferous. He states that on a recent visit to Waikaka lie saw prospects washed which surprised him, ami that on the Matanra river one could wash splendid prospects anywhere. The whole of this district, he says, is ideal dredging ground. There are no large stones, the wash is easily treated, there will be no stoppages by floods, the dredges can be run at very little cost, a railway runs right through the heart of the district, and coal costs from 7s to 10s per ton. Asked as to over-flotation, Mr Ramsay answered that he was not afraid of over-flotation so long as the ventures put cu tho market were genuine, and had been fairly tried before being offered to tbe public. What the public should guard against was, high falntin prospectuses issued simply on the reputation of an adjacent claim without adequate information with regard to the property itself, Oil the Molynenx river, however, it was necessary to take a lot on\trnst, and so far that trust had not been misplaced. Indeed, it had been found that wherever a dredge could bottom and work the ground good gold had been got, and people had therefore great confidence in the auriferous nature of the river. Mr Ramsay recently paid a visit to the Molynenx district and Cardfonai He says Cardrona it a very nice valley, and rich gold has been got in life various terraces and tributaries. So far as dredging is concerned, not much will lie known for a month or two yet. He is about to pay a visit to the West Coast district to see for .himself tbe various properties there, ami Mr Ramsay did not ‘care to commit himself to an opinion until lie had done so. He has with him a splendid sample of gold won by Graham's dredge on the Central Matanra claim. Mr Ramsay, while in Wellington, will In staying at ihe Empire ITotel. 1