THE AHAURA RIVER GOLD DREDGING COMPANY (LIMITED).

Otago Daily Times, Issue 11807, 9 August 1900, Page 6

THE AHAURA RIVER GOLD DREDGING COMPANY (LIMITED).

The second ordinary general meeting of the shareholders in the Ahaura. River Gold Dredging Company was held yesterday at the registered office of the company, No. 14, Bond street. There was a fair attendance of shareholders, and Mr Andrew Melville (chairman of directors) presided.

The Chairman, in niiovin-r tho adoption of tho report (already published) and balance sheet, explained that the directors employed Mr E. Roberts, C.E., to visit and report on the claim and on the class of dredge required to work the ground. The directors were unable to get local firms to tender for. the dredge, and after some delay finally accepted the tender of Mr Joseph Jay, Greymouth, for the pontoons, and that of Messrs Cable and- Co., Wellington, for the machinery. Satisfactory progress is now being made with all the contracts. The chairman explained that in order to get a suitable roadway to the claim and a building site for the dredge, the directors had found'it necessary to purchase an area of 27 acres, and this area being drcdgcable added a valuable asset to the company's property.

Mr J. Thompson asked if any provision had been made, to have the timber seasoned before building the pontoons.

The Chairman explained that the directors had authorised Mr Roberts, during his visit to the claim in October last, to order the timber required, which had been done, and the timber had been cut fully three months prior to letting of contract.

A Shareholder asked the distance of the claim from the railway station.

The Chairman replied that the 'claim was about three miles from tho Ahaura railway station. *

Another Shareholder asked what debt the company would incur before commencing work.

The Chairman replied that the whole of. the liabilities of the company were stated' in the balance sheet, with the exception of contracts not entered upon —viz., erection of machinery and cartage to the claim. In answer to further questions, the Chairman said he believed all the contracts would be/up to contract time, and the directors would use every endeavour to push on the worli as much as .possible.

Mr Jesse Tirnson moved, and Mr tT. Thompson seconded—" That the retiring directors— Messrs James Hargreaves (Ahaura), and J. L. Wilkie . (Dur.edin)—be re-elected." This was carried. Mr George Blyth was re-elected auditor. ':

A vote of thanks to the chairman terminated the proceedings. . ,■■.;