MINING

Otago Daily Times, Issue 12036, 7 May 1901, Page 6

MINING

The manager of the Champion Gold Mining Company forwarded 2Soz ldwt of gold on Saturday last, representing about 10 days' work. The high river retarded operations considerably, the drainage water being very heavy. Tho Arrow Big Beach Company report a return of 23-107, for 10 days from two shifts. The following wire is lo hr,nd from the '••reeling engineer of the First Chance Dredging Compr-ny:— "Had dredge running two hours, everything working satisfactorily, ready for official trial any time." A Wellington telgram states that the Four River Plain dredge, Buller River, reports a return of Coz l'Jdwt for 123 hours' work. Tho Kelly and Casey Beach Dmigimr Company's dredge commenced work early yesterday morning, and in the afternoon one of the directors advised the secretary by wire (hat even-thing was working fatisfactorily and that the mats were showing a little gold. Mr Donald Marshall, dredgemaster of the Earnscleugh Xo. 2 dredge, has received the appointment of drcdgfinastcr arid engineer ol the Grey Biver Consolidated Company's dredge. Mr Richard F. Kitto has beeu appointed dredgemast".- for the Sixtcen-milo Beach Molyiicuii Gold Dredging Company (Limited).

All Auckland ruesE.ige slates that the Barrier Reefs' return, IBS tons, is valued at

THE WEEK'S DREDGING RETURNS. During the week ended Monday, May G, reports have been received from tho following 43 dredges, the total yiold being llOgoz 7dwt lGgr, or an average of over 220z per dredge:— Oz. dwt. gr. Junction Electric, Cromwell .. 120 12 0 Electric, Cromwell 87 4 0 Earnscleugh No. 2, Alexandra (128 hours) 80 0 0 Golden Beach, Alexandra (118 hours) G2 0 0 Empire, Waipori (two dredges).. 40 (I 0 Charltqn Creek, near Gore (130 hours) .. .. 37 13 0 Alexandra Eureka, Alexandra .. 35 0 0 Cromwell, Cromwell (148 hours).. 33 17 0 Golden Treasure, Miller's Flat.. XI II 0 Perseverance, Alexandra .... 30 7 0 Manuhcrikia, Alexandra (122 hours) ..' 2.S 11 ID Hartley and Riley, Cromwell (100 hours) OS 10 0 Majestic, Miller's Flat .... 2G 5 O Waimumu Extended, near Gore (142 hours) 23 14 0 Waimumu, near Gore (116 hours) 23 18 0 Otago, Miller's Flat .. ~ .. 23 12 0 Golden Run, Islnnd Block .. 22 12 0 Upper Waipori,' Waipori (133 hours) 22 8 0 Ngapara No. 3, Ncvia 22 0 0 Golden Gate, Miller's Flat (5 days) 20 0 0 Inch Valley, near Palmerslon (1025 hours) 18 17 0 Evans Fkt, Tuapclta 18 G 0 Nevis, Nevis River (128 hours).. 18 0 0 Arrow Junction, Arrow .... 17 5 0 Magnetic, Cromwell 1G 0 0 Waimumu Queen, near Gore (101 hours) 1G 0 0 Reliance, Tnapeka Flat .. .. 15 1 0 Success, Waipori 14 4 18 Tnapeka, Tuapeka Flat (125 hours) 14 2 0 New Alexandra, Alexandra .. 14 0 0 Waikata Forks, Waikaka (125 hours) ' 13 2 0 Waimumu Central, near doro 123 hours) 12 7 0 Globe, Waikaka (120 hours) .. 11 1C 0 Molyneux Hydraulic, Afcxai-.dra 11 10 0 Golden Link, Alexandra (132 hours) 11 10 0 Meg and Annie, Cromwell .. 10 11 0 White Star, Cardrona (7.days).. 8 12 0 Ir.ch-holmc, near Palmerston (135 hours) 9 5 0 Gabriel, Tnapeka Flat (105 hours) 8 4 15 Central Charlton, near Gore ~ 7 15 0 Chatlo Creek, Manuhcrikia .. 7 7 12 Miller's Flat Electric, Miller's Flat (103 hours) ...... 0 2 0 Arthur's Point, Shotovcr (80 hours) 'GOO Blue Duck, Island Block'(119 houre) 5 8 0 Bald Hill Flat, near Alexandra (40 hours) 4 17 0 Moa Flat, Dumbarton Rock .. 41G 0 Vincent Extended, Clyde .. 3 5 0 Total 1103 7 1C Cordronii Xo. 1, Cardrona (amalgam) , 19 4 0 The West Coast. Oz, dwt. gr, Xclson Creek .. ... 1C 0 0 Mokoia (180 hours) 38 0 0 Greenstone Junction .... 30 4 0 Pactolus (four days) .. '.« .. QG 10 0 Buller Junction (80 hours)' .. 2G 0 0 Reeves's Proprietary (11G hours).. 22 9 0 ! Grey River (112 hours) .. .. 18 10 0 New River (91 hours) ... 1G 10 0 ; Dobson No. 2 4 0 0 I *' 1 REPORTS FROM WORKING DREDGES. :. Tho secretary ol the Gr.briel Dredging Company, Tuapclta Flot, reports a return of Boz 4dwt 15jr for 105 hours. Tho Upper Waipori Alluvial Gold Dredging Company (Limited) obtained last week 220z Bdwt of gold for 133 hours' dredging. Tho secretary of the Cardrona No. 1 Company reports a return of 19oz 4dwt amalgam for 120 hours. The secretary of the Nelson Creek Company reports a return of 4Goz for 12G hours' work. Tho dffdge is working well. The secretary reports e return of 4oz from the Dobsou No. 2 dredge for Saturday's washup. . .'■ Tho dredgemaster of tho Arthur's Point Gold Dredging Company reports 0, return of GO2 for ; 90- hours' dredging ■ • •

The dredgemaster ot the Globe Company's dredgo reports a. return of lloz lGdwt lor 120 hours. The secrcta'ry reports that the return from the Mokoin dredge wa9 :ißoz lor 180 hours. The secretary , reports Hie following Tetlirns: Evans Flat dredgo, ISor. Odwt; Reliance, 15oz ]dwt. The New Alexandra report-lloz for tlireo and a-half days' work. The. Vincent dredge started work yesterday morning. , The eecrctary of the Olrig Dredging Company has.received a telegram from the dredgcmiiflcr stating that ho started dredging yesterduy I morning. DUNEDIN STOCK EXCHANGE. On the Diuiedin Sleek Exchange yesterday Maori King shares wero sold at Is premium. The following falcs \yere also effected: Ahaur.i ltiveri Is Gd; Alpine Consols, 48a, 47s 9d, 47s Gd; Cromwell, 80s; Foufen-milc Beach, 33a; Gold King, 13s; Great Central, 32a Cd; GreenStone Junction, 225, 22b Gd,.22s 3d; Hartley and Riley, £G Bb, £G Ss Gd; Inch-holme, os; Kelly and Casey, His fld; .Nelson Creek, 60s; Pactolus, 32s p; Sailor's Bond, aCs Cd; Teviot, 18s. .... The following are yesterday's latest quolaAhaiiro- River-Sellers fis. Aldinga—Buyers par, .sellers 5s p, Alexandra Lead-Sellers £\ Vis. Alpin'e Consols—Buyers'£2 7s I'd, sellers £2 7s 9d. Alpine No. 2—Sellers £2 7s. Arrow Junction—Buyers 18s Cd, sellers £1, Arthur's Point-Sellers His Gd, Bald Hill Flat-Sellers 10s. . Bonanza—Sellers -Is dia. Buller Junction—Buyers Bs, sellers 10s 3d p. Cairnmuir—Sellers ill 10s. Callaghan's Creok—Buyers 5s 3d p\ Central Charlton-Sellers 14s. . Central Electric-Sellers £3. Clyde-Buyers £3 Is, sellers £3 10s. Cromwell—Buyers £1 2s Gd, fellers £1 10a. Davis Bend-Buyere la Gd dis. Dobson No. 2—Sellers 7s 3d: . Electric-Buyers £> 7s Gd, sellers £2 9a. Electrio Extended—Buyers XI 17s Gd, sellers £1 18s. Enterprise—Buyers £i 15s, sellers 14 18s. Ford's Creek-Sellers 10s. FQurteen-milo Beach—Buyers £1 13s, sellers 11 13s Sd. Galvanic—Buyers 8s 3d, sellers 9s Gd. Gold, King—S.cllors 15s. Golden Falls—Buyers 13s 9d, sellers Iss. ■' Golden Gate-Sellers £1 10s. , Golden Link—Buyers IGs. 4 Golden Run—Buyers £1 14sP«ellers £1 19s. Golden Standard-Sellers 8s dis. Grand Junction—Sellers p.ir. Great Central—Buyers £1 I2s, sellers ill 12s 4}d. Greenstone Junction—Buyers ill 20, sellers £\ 4s. ' • • ~ Grey River—Buyers £\ 2s Gd, sellers £1 ss. Grey River Consolidated—Buyers 9s. 9d, sellers 11s. Halfway House—Buyers £1 31s. Hartley and lliley—Buyers £G 03, sellers £6 10s. Hokitika. River-Buyers 2s 6d, sellers .7s 6d p. liichdalc-Scllers Us. Inch-holme—Buyers 4s 9d, sellers Gs 6d. Junction Elcctric-Biiycrs, £1 O3 3d, sellers £1 10s. Kelly and Casey-Buyers £ 1 lls 3d, sellers £1 12s. Leaning Itock—Buyers 10s, sellers 2s Gd dis. Leviathan-Buyers IDs Gd. • Long Valley—Buyers £ 1 4s Gd, sellers £1 7s. Magnetic—Buyers 16s, ncllersill Os-fid. Majestic-Buyers £1 Is, filers £1 Gs. ■ Maori King—Sellers Is Cd p.' Meg and Annie—Sellers £3 3s. Merrimac—Buyers 12s. Miller's Flat Kloctric—Selforn 4s 3d. Mokoin-Buyers 16s Gd, sellers £1. . Monte Chririo-Buycrs fl 6s', sellers £110s, Morning Star—Buyers 2s 7d, sellers 2s Ud. Mosquito-Buyers 3d, sellers Is p. Naumai—Buyers 12s Gd. XeUon Creek—Buyers £i 15s, sellers £3 Os Gd. ivevis—Sellers 17s. New Alexandra—Buyers 7s Gd, sellers 9s. New Hiver-Sellers 10a 3d. Oceanic—Buyers 7s, sellers 2s Gd die. Otago— Sellers 17s Gd. Pactolns—Buyers £1 lls, sellers £1 12s p. Perry's Reward—Sellers par. Reeves Proprietary—Buyers 13s 3d, sellers 13s od. Royal Maori-Sellers 2a. Gd dis. Sailor's Bend-Buyers £1 IC* 3d, sellers £1 17s. Second Magnetic—Buyers 18s, sellers £10s Gd. Smith's Creek and Bannockburn-Sellcrs 10s. Teviot—Buyers 17s Od, sellers 183 Cd. Trafalgar-Sollers Gs. Cd p. Tuapcka-Scllcrs £1 Bs. Upper Magnetic—Buyers 17s, sellers 19s Gd. Victory—Sellers 6S' p. Vincent-Buyers £\ 13s, sellers £1 16s. Vincent Extended-Sellers £1 lie Gd. Waiknka Forks-Sellers 19s Gd. . Wuiimimu-Scllers £1 8». Waimunm Extended-Buyers Bs, sellers 3s. Wnipnnn—Sellers £1. Woodstock— Buyers par, sellers -Is p.

OTAGO STOCK EXCHANGE. The following tales were effected yesterday by the Olaco Stock Exchange:— ' "Alpine Consols, ISs; Bullcr Junction. 9s p; Dobson No. :.', C 3 Gd; Electric Extended, 335; Fourteen-mile Beach, 33s Gd,.33s 3d: Golden Bed, 22s 9d; Junction Electric, 23s Gd: Kelly and Casey, 31s Gd; Sailor's Bend, 3Gs Cd; Upper Magnetic, 19s. Tho ■ following are yesterday's latest quotations : — Ahaura River—SolleH ss. AlOinsn—Sellers os p. Alpin'e Consols-Biiycrs £2 7s, sellers il 10s. Alpino No. 2-Biiyers £2 is Cd, sellers £2 Cs. Arrow Junction—Sellers £1. Beaumont Lead—Sellers £1 3s Gd. ■ Boundary Creek—Sellers 19s, Buller Junction—Buyers 8s Si, sellers 103 p. Cnirnniuir—Buyers £] Is Gd, sellers £ 1 lls. Central Electric—Buyers £2 10s, sellers £2 18s. Central Magnetic—Sellers par. Charlton Creek-Buyers £1 <0s Gd, sellers £1 13s. Cromwell-Buyers £i Gs, sellers £i 10s. Duhson No. 2—Buyers 5b Gd, sellers 7s Gd. Electric-Buyers £2 8s 3d, sellers £2 10s Gd. Electric Extended-Buyers £1 16s Cd, sellers £1 19s. Empire—Sellers £3 ss. Extended Fourteen-mile Beach—Buyers Is, sellers 2s 3d p. First Chance-Buyers il 7s, sellers £1 93. Ford's Creek—Sellers 10s. Fourteen-mile Beach—Buyers £1 13s, sellers f113»0d., Gnlvanic—Buyers Bs, sellers 10s. Gentle Annie—Sellers; £1 IGs. Gold King-Sellers 15s Cd. Gold Quem—Buyers IGs Gd, fellers £1 2s. Golden Ik'd-Huyers £l 2s, sellers .£ 1 is. Golden Link—Buyers IGs 3d, sellers 18s. Golden Rivpr-Sel'lcrs On. Golden llmi-Buycrs i'l 15s, sellers £2. Great Central—Buyers £1 lls Gd, sellers £1 Hs. Grey River Consolidated—Sellers 10s Gd. Halfway House-Buyers £1 12s Sd, sellers £1 17s Gd. Hartley and Riley—Buyers £G ss, sellers £6 8s od. Inch-holme—Sellers ss. Junction Electric—Buyers £1 9s, sellers £1 12s. Kia-Ora—Sellers 15s. Kelly and Casey-Buyers £1 lls, sellers £\ 12s 3d. • ■ * ' Leviathan-Buyers £1 Is, sellers £1 4s. Magnetic—Buyers 18s, eellcrs £1 ss. Majestic-Buyers 17s, sellers £1 3s. Manuherikia-Sellers £i 2s Gi Meg and Annie—Sellers £3. Merrimac—Buyers 12s, sellers 14s. . Mo» Flat-Sellers £1. Mokoia-Buyors 15s, sellers Jtl. Mou'te Christo—Sellers £1 10s. Morning Star—Buyers Is 3d, sellers 3s Gd. Naumai-Sellera 14s; Nelson Creek-Buyers £3 Is, sellers £3 3s. New Alexandra—Buyers 7s Cd. ■ No Town—Sellers 2s p. Otago-Sellcrs 19s. Pactolm No. 2—Sellers C<l p. Reeves's Proprietary—Sellers 14s. 9d. Richards's Brach—Buyers 3d, sellers Is. Royal Maori—Buyers Us Gd, sellers 17b Gd. Saflor's Bend—Buyers £1 15s, eellers £1 19s. Second Magnetic—Bnyers 193, sellers £1 33. Three-mile Greenstone—Buyers lCs, sellers 18s. Upper Magnetic—Buyers 17s, sellers 19s Cd. Victory—Sellers 5s Gd p. Vincent-Buyers £1 lls Gd, sellers £1 14s. Vincent Extended—Buyers £1 8s ta, sellers £\ lls Gd. Waimutnu-Scllcrs £1 7s. Wnipiina—Sellers 16s. Wareatea—Buyers Is, sellers 3s Gd p.

THE EQUITABLE STOCK EXCHANGE reports as follows: — Salcs.-Bald Hill Plat, 9s; Charllon Creek, 325; First Chance, 27s Cd; Great Central, 325; Galvanic, 9s 3d; Kelly and Casey, 325; Nelson Creek, Cls Cd. Quotations.—Ahaum River, sellers ss; Alpine No. 2, sellers -15s; Arrow Junction, sellers 22s Cd: Arthur's Point, sellers 20a; Bald Hill Flat, sellers 10s; Bondigo, Kellers, ils; Boundary Creek, buyers Ids, sellers 19s; Brood Creek, sellers par; Bullcr Junction, buyers 7s 9d, sellers 10a p; Central Electric, buyers 53s Gd, sellers 60s; Charlton Creek, buyers 3U, sellers 33s Gd; Cromwell, sellers ?0j; 'Dinger's Pride, sellers 4s dis; Electric, buyers 48s. sellers 50s; Enfield, buyers 355, sellers 503; First Chance, buyers 233, sellers 28s; Ford's Creek, buyers 103, sellers 12s Cd; Foiuleen-milo Beach, buyers 325; Galvanic, buyers 9s, sellers 10s; Gold Queen, buyers 15s, sellers 20a; Golden Bed,, buyers 01s 3d, sellers 255; Golden Link, buyers ICs, sellers 18s; Golden Kiver, sellers ss; Golden Treasure, sellers £5 7k Gd; Great Central, buyers 31s, sellers 3Js; Greenstone Creek,

A QUKSTIOr FOIt THE DOCTOR. Would it not be desirubjo to consult the doctors as to which soap commends iteelf to our uses, as so many nkine arc mined twst redemption by inferior Eoaps? Ff.abs' Soap is recommended by (ho highest «kin authorities ill the world. Dr Redwood, Ph.D., F.C.S., F.1.C., whose opinion is unimpeachable, says; "I havo nover como acrora anotlinr toilet soap which to closely comes up to my ideal of pe.-fectioa." .

sellers 27s 6d; Hartley and Riley, buyers in; Junction Electric, buyers 30s, snllcrs ,12s 6(1; Kawarau Bridgp, sellers ]2s Cd; Kelly ami Casey, buyers 31s, sellers 32s Cd; Long Valley, buyers 235, sellers 27s Cd; Lower Enficld, se'llers pnr; Magnetic, buyers 10", sellers 20s; Matan, buyers 575, sellers' GOs; Moa-Flat, buyers 18s Cd, sellers 21s; Molioia, sellers 209 Cd; Morning Star, sellers 2s Cd; iN'aumai, buyers 12s, sellers l"s Cd; Nelson Creek, buyers 645, sellers CGs; Reeves Proprietary, buyers 15s, sellers 20s; Roxburgh Jubilee, sollcvs 2s Cd p; Sailor's Bend, buyers 355, sellers 3Gs I'd; Second Mngnelic, buyers' 18a Cd, sellers 23s Cd; Tcviot, buyers 18s, sellers 20s; Upper Magnetic, buyers 17s Cd, sellcr.i 20s; Upper Waipori Alluvial, sellers 20s; Victory, sellers Is Gd p; Vincent, sellers Dos; Vincent Extended, sellers 30s Cd.

SLUICIXG.

The following are yesterday's quotations on the Duncdiu Stock Exchange: — Beop Stream Sluicing—Buyers 7s. Moonlight-Sellers J2s. , Roxburgh Amalgamated (contributil)p)—Sellers Us lid.

GREAT CENTRAL (iOLD DREDGING COMPANY.

A meeting of shareholders in the fireat Central Gold Dredging Company was held in Messrs liccves and Co.'s offices yesicrdtiy afternoon. Mr James Brown presided, and there wero about a dozen shareholders present. It was decided to increase the capital of ilie company to i'lo,ooo, by the creation of 2000 new shares of XI each, said shares to be offered pro rata to the present shareholders at par.

THE 810 FLAT DRKDGI.Vfi COMI'A.W.

The. directors will report at their annual meeting as under:—"lmmediately after the first shareholders' meeting Mr L. If. Reynolds, the company's engineer, was instructed io have tenders called for machinery, pontoons, and' other requirements, and succeeded in placing same, the principal "of which iuc as follow; Machinery, Cosscns and Black, JH225 17s; pontoons, 11. F. Nees and Co., £-037; engine anil boiler, RobeyandCo.,£G!)o ss; winch, M'C.rcgor rfiul Co., £279 ss; winch engine, Morgan mid Cable, JCIIS; elevator, M'C'.regor and Co., »5 lOs. The pontoons were finished by the contractors within contract time, but owing Io the grent amount of work that tlin manufacturers had on hand at the time of letting our machinery contract, no specific dale for completion could be fixed. The company had theroforo Io wait the contractors' convenience, consequently the starling of the dredge has been considerably delayed. jlowcver, all the machinery is now on tho claim, and the work of erection is proceeding .under the hands of Mr ]{. C. M'Phnil. and your directors anticipate that the dredge will be finished about the end of June. The total cost of the dredge will prove to be eligh'.iy over £09)0, which wlil be fully £ UOO more'than was anticipated, so that it will be necessary to increase tho capital by X 1750 to enable (lie dredge to start quite clear of debt and provide for a few sundries. Your directors are of opinion that, with the strain now on the pulilie, it is doubtful if the capital would Iμ subscribed by ordinary shares, and therefore submit the following proposal for your consideration, which proposal will be brought forward and submitted as a resolution nt (he shareholders' meetkg, and it carried will be given effect to, The proposal is—' That the capital of the company he increased by the creation of 1750 new shares at £1 each, to lie called preference shares, to which there shall be attached special rights and privileges.'"

THE ALDINGA COM DItEDGIXfi COMPANY. The directors ol the above company report: — " Your directors, in submitting this, the first annual report, do so with feelings of satisfaction. Immediately after tho first meeting of shareholders, your directors, acting in conjunction with the directors of three other companies ou the West Coast, opened up negotiations for the machinery for the dredge from New York, America, through Mr Raymond Payne, who went there in tho several companies' interests, mid alter some little delay v/erc successful in having the contract placed at a very satisfactory figure with moderately quick delivery. This was not decided by your directors until they had thoroughly tested both the local and Australian markets. Tho work of the manufacture of Ihe machinery is progressing satisfactorily, and latest advice states that the shipment will be effected early in May, thus giving two months from time of shipment to get machinery oil to the claim and reasonable time for erection; your directors hope to see the.dredgo at work in about six months ironi date. Tli'o contract for the pontoons has just been placed, to be comploted within five months from dale of signing tho contract. Your directors have kept this contract, back as long as possible, so that by the time, the pontoons will he finished the machinery will be on its way to, if not on, the claim. The engine and boiler (Rnston ami Proctor) have arrived, and have been sent forward to the Wcsl Coast, The dredgo is being equipped with every modern appliance tor gold Having; Jones's tables are also being put on, so the dredge will be thoroughly efficient (or the work to be done. The engineer estimates on the contracts already placed, together with an approximate cost of erection, etc.. that the dredge will be put to work at a total cost of il'OdO. Three of the directors retire by virtue, of the articles of association. They are Messrs J. If. Nimino, W. 11. Adams, and W. T. Wallace. All are eligible and offer themselves for reelection. Mr W. E. C. Roid retires as auditor, and offers himself for re-election."

CALEDONIA GOLD DREDGING COMPANY. Tiic first annual meeting of the Caledonia Gold Dredging Company was held in the Dunedin Stock Exchange rooms Inst night. There were 14 shareholders present. Sir J. J. Wright (chairman of directors) presided. The Chairman, in moving the adoption ot the report (already published) said he thought they would agree with him that it was entirely satisfactory. TLcy would sec that tlio company was not pressed for finance, and the directors believed there would bo no need to call up the whole of the capital. The pontoons were now in hand, and tho machinery was well forward. It would take four months altogether to build the pontoons, and it was estimated that the erection of the machinery would occupy two months. He anticipated they would bo able to make a start about August. Tho following figures showed tho state of the company at the present date. There was a credit balance at the bank of £574 8s Cd, and at tho Post .Office of £1000, The outstanding calls represented the sum of JESS 4 7s, or a total asset of £2058 8s fid, Their liabilities were—Pontoons £'1135, engine niid boiler £10, engineer's commission i'5U, making a total.of £2005, or £53 8a Cd less than tho amount of their assets. To this credit balanco there would.be added the amount of the ninth call. The only other expenses to bo met were the cost of the cartage a:ul erection of machinery, the housing of tho dredge, and any such incidental expenses as might ariee, All the outstanding calls were regarded as good, so they would tee that the company was in a vny good financial position. The prospects of the company lie considered were in every way excellent. Mr A. Sligo seconded tho motion. Tho machinery they had bought would serve their purpose well. It would dredge to a' depth of 4011, and that was more than what tho experts who reported on the claim said was required. In all that had been done, the directors had faithfully endeavoured to conserve tho interests of tho company. The Chairman mentioned that the engine and boiler were on the water, and slimitd α-rrivo almost immediately. The size of the buckets was four cubic feet, and they would turn over 120 tons per hour. All the plant that had arrived was found to bo in excellent order, r.nd their engineer was perfectly nnlisficd that tho dredge would be suitable for the claim. In regard to tho pontoons, the directors had arranged with Mr Sligo to pay a> fortnightly visit to the claim during their construction, and as. Mr Payne'e representative nlso paid fortnightly visits the shareholders could rely on the pontoons being properly constructed. The motion was carried unanimously. Messrs A. Sligo and A. Burn were re-elected directors, and Messrs Mitchell, Leslie, and Don auditors. A very hearty vote of thanks was passed to the directors and tho secretary for the able and satisfactory way they hud conducted the affairs of the company, and the meeting then closed. TIIE NEW ALEXANDRA GOLD DREDG-' ING COMPANY. TO THE V.DITOS. Sir,—lt seems to me, Sir, that far 100 much companies. Fancy the beard of the New Alexandra Dredging Company selling the company's dredge to a neighbouring company for a certain sum, and then coolly calling the shareholders together to wind up tho whole concern! But why think oi liquidating? Certainly we nre in debt; yet much of it may not be pressing. However, all will shortly no paid off, as the dredge having stripped the top stuff is now on the wash, which will yield from 40oz to 50oz a week, nnd has 10 years' work on tho claim; indeed, to use the words of an Alexandra- resident who is qualified to give an opinion on the matter, "Tho claim, now that the dredge has got into it, will turn out to be a second Perseverance." I trust this will help those who may bo misled by the interested persons who are going about seeking proxies to be on their guard, and if tlioy should have handed them over they should try and attend tho meeting themselves and vote for continuation. Having seen tho ground, the chart of work done, cte., and being a holder of the stock from the flotation of the company, I subscribe myself Duncdin, May C. Investor. ROSS DAY DAWN GOLD DREDGIXU COMPANY An adjourned general meeting of shareholders in the Rosb Day Dawn Gold Dredging Company was held in Messrs Cook and Gray's office yesterday afternoon. Mr N. Y. , A. Wales (chairman of directors) presided, and there were about a, dozen pliarcholders present. The Chairman Faid that the meeting had been adjourned from :i fortnight a«o, to continue the business then begun in connection with the Ross Day Dawn Company. They had got so far with the business as toproposc the election of a director. Then it was considered advisable io adjourn in order to give, tho Vest

Coast shareholders an opportunity of sending in their proxies, which had been delayed through the i:on-arrival of the mails. A number of proxies had been received, so that now the business could bo proceeded with. Mr Somervillc had proposed that Mr Kaslon be elected ft director. Mr F. A. Cutten: Is there only one director to be elected? . The Chairman: There is only one. In reply to further questions, the Chairman said that there were four directors—Messrs Soinerville, Wales, and Bruce were directors. Mr Cook had been a director, but had retired. Dγ Davis: How long is it since, he retired'.' The Chairman: About u month i?o. Mr Somervillo and himself (the speaker) had done the business of the company during tho past 10 months. Unfortunately, .Mr Cool:.- had been awiiy in different parts of the colony, and was not able to attend the meetings, ft was thought they should have a director on the Coii3t, and Mr Bruco was accordingly appointed. Mr Bruce and othei West Coast shareholders were deserving of thanks for the interest they had manifested in tho company. A very mcoun.ging letter hud been received from Mr liruc". Tina letter wus road at a latter stige. In it Mr Uruce 'said that he had acquired nine -.'cres (or the company after a. hard fight, with two other parties who contested the matter in the Warden's Court. Mr A. C. M'flcorge proposed, and Mr M'Kitdgcn seconded—"Thot Jlr Andrew Burns be appointed a director. Mr Somervillc considered that an additional director should be elected, and asked if Ico were in order in moving a resolution to that effect. He would move that the directors be five instead of four. l)r Davies seconded tho motion. The Chninnuii 'said that as the l.iisinnss before the meeting was the election of a director no new business could bo entertained til! thai WJI3 disposed of. Tho election of a. director must be proceeded with first. The nominations for the popition were Mr Easton and Mr Burns. Dr Dnvics: Is the company on the Stock Exchange list? The. Chairman replied that it was, notwithstanding that something recently appeared in the press to the contrary. He would take a flioiv of hands on the motion. A show of hands being taken, four were held up for Mr Burns and two for Mr Easton. The Chairman said that unless a ballot were, demanded he would declare Mr Burns elected. llv Easton demanded u ballot. Mr Somctvillo said he sent in proxies that morning, and asked if they could be accepted. ■ Mr Howes said that proxies were sent to llr Somerville under the belief that he. was chairman of the company. Mr Somerville read a letter which ho sent to tho West Coast shareholders, in which he referred to himself as being a director, and in which he stated that the would use the proxies in Mr Eaeton's favour. The Chairman said that'unfortunately the articles of association provided that proxies should be lodged 12 hours before a meeting, and proxies lodged that morning could not be entertained, lie alto thought that there had been time to receive proxies from Auckland, not alone tho West Coast. He might say that proxies had been rejected for the same reason which would havo gone against Mr Easton, co Mr Somerville was not alone in this mutter. Dγ Duvies and Mr J. Duncan were appointed Dr Davies asked if vendors who also held contributing shares upon which calls were. due. could voto in respect of their fully paid-up shares. Mr W. C. MacOregor, who a-ppearcd to adviso Mr Easton and,Mr Somervillo, observed that they could not. No shareholder .could voto who owed calls. The Secretary said that a proxy had come by telegraph. Mr MacGrcgor said that could not bo accepted. The proxy must be signed by tho shareholder and witnessed. Tho Chairman Enid it would be well to have, the company's solicitor in attendance to advise them'on these legal points. Mr Holmes, the company's solicitor, being sent for, gave an opinion similar to that given by Mr'MacGrcgor. A bnllot was then taken, with the result that 24UJ votes were, recorded lor Mr Burns and 1000 'for Mr Easton. Mr Burns was declared elected. . Tho Chairman said thut Mr Somerville's molion re the additional director could now bo brought up. Unfortunately* tho motion could not bo accepted without notice, and it would have to be discussed at a future meeting. That could be held on a- requisition being signed by a fifth of the shareholders, or the voico of the meeting could be taken, and the directors could act upon it. On the motion of Dr Davies, seconded by Mr A. P. Johnston, a resolution was carried in favour of a special meeting being held to consider a proposal to olect another director. Mr Easton aakcil bow much money had. been paid in ainco tho last meeting, and The Chairman replied about iB6O. Mr Easton desired to -viprcss bis thanks to those who had voted in hia favour, and to those on tho West Coast who had sent proxies for him. Jle had received'several letters from the West Coast expensing a. strong wish that tho numbrr of directors bu increased. They felt that had there bern more directors his letter dated the 23rd April would not. have been railed fur. Tho minute book would show that it had been decided thut proiecdini's bo taken for the rcrovtry of au calls in. arrears, and nt thai timv the directors were otviug large j hums of money. I Tho Chairman did not know M Mr Elision was in order. The matter he was bringing up was entirely outsido the business of the mtet,ing. Mr'Easton said that before he sat down he would like, it to be known that he had made publicly » chnrgo against the directors, which had not been refuted—against all the directors for neglecting their duty. Hγ Thos. Chalmer was (hen re-eiected audiTho proceedings terminated with a vole, of thanks io tho chair. NOTES FROM CROMWELTj. (Fbou Our Own Correspondent,) CROMWELL, May C. Tho Kawarau has gone down rapidly during tho last two days, and will.probably reach a very low level by tho end of the. week. Tho Alpine Consols, Alpino No. 2, and Kelly and Casey all started to-day on full shifts. , Tho Electric Extended has reached bottom now, so a return may bo expected shortly. Tho Kiso and Shine, v/ontoons aro being gradually built up; whilo the erection of machinery on tho Iloyiil Maori is progressing favourably. Tho Central Electric will start in a day or two, .provided certain machinery arrives. The Second Magnetic is pulliug up the river a, bit. Tho drift has bcou troubling the Upper Magnetic considerably, but it now settling down. Tho chiimholdcre of tho Clulha are to bo interviewed ro boring their properties. An association has been formed hero lor tho purpose. XOTES FROM ALEXANDRA. (Fbom Oua'Oww CoßnEspoNDm.) ALEXANDRA, liny C. Tho Molyncux is about lift Gin above normal. Two loads of machinery camo to hand to-day for the Fra3cr Flat dredge. The Olrig started dredging to-day, after three weeks' repairing, do. NOTES FROM ROXBURGH. (Piioa Ova Own Cohrestondent.) ROXBURGH, May G. Tho Main Lead Herculos pontoons will be ready for launching in three or four weeks Tho last load of .material for tho Toviot dredge was delivered to-day. Oir Saturday evening the ladder belt broke of tho Gold Queen dredge, and tho buckets slipped into tho river bottom. After n good deal of work thoy wcro connected a"ain last evening, and dredging was to be resumed today. THE WEST COAST. (From Our Own Correspondent.) CiREYMOUTiI, May G. During the past week returns heen reported from seven dredges, with a total yield of IKIoz lOdwl, or mi averago of 230z sdwt per dredge, or if we include the whole return from the Greenstone Junction dredge, an averaeo of 20oz 12dwt is obtained. The whole' of tho machinery for the Caledonia Gold Dredging Company's dredgo is now on tho ground at the claim. Tho machinery was made by the .'.ustral Otis Company, of Melbourne, for tho United Morvcn dredge in Otago, but as tho latter company went into liquidation, tho Caledonia Company took over its machinery contracts, and were thus able to sccuro a new and up-to-dale dredge with a considerable saving of bother and nioney. Good progress is being made with the building of the pontoons for tho above company. The contract will be finished in the stated time. Mr TUiigh, dredgomaster on tho Hokitikadredge, met with an accident while helping-to place a. heavy piece of machinery in position. His leg was much injured as to incapacitate him for a week or two. The dredges on tho Greenstone Creek have now a bright outlooK before them. Although no authorised statement as to returns from tho Totara. dredgo are made miblic it is kno\7n that they are excellent; but tho dredge is altogether too wenk for tho work, nnd repairs arc constantly demanded. The ground is the most difficult to work of any on tho Coast, boulders being heavy and thickly etrewn, while tho gravel wosliee arc very tight. Amongst the few who aro acquainted with what tho dredge is doing it is considered that if she were powerful enough to cope'with the work tho returns would be phenomenal, if not Startling.