GOLD MINING ENTERPRISE

Otago Daily Times, Issue 21987, 23 June 1933, Page 7

GOLD MINING ENTERPRISE

TO THE EDITOR.

—lt is to be hoped that the speculators and investors in mining propositions will not run mad as they did during the Hartley and Riley dredging boom, as a burst boom does more harni to mining than a dozen “wild cats.” Take the Okarito Dredging Company, one of the best producers of gold at the present time. It will take £BO,OOO in dividends to pay back the money to the present buyers. Then, take two untried mining propositions. With the Waitahu it will take £70,000 to pay back present values, and the Gillespie’s Beach Dredging Company will have to distribute £72,000 in dividends to pay back the present prices. It is a pity that the directors of the lastnamed company are so reticent as to the progress of the works and erection ot the dredge. If the rumour is correct that they are having the ground rebored, the results should be published to protect the public and present shareholders. I hope that all mining ventures will prove successful, as mining is one of the best lines to bring back prosperity to the Dominion. —I am, etc., A Wellwisheb.