MOLYNEUX DREDGES

Otago Daily Times, Issue 22825, 9 March 1936, Page 10

MOLYNEUX DREDGES

LOW LEVEL OF RIVER LAUNCHING UNLIKELY BEFORE SPRING Inquiries made by telephone to Alexandra last night show that the Molyneux River is at present three inches lower than it was on February 28. The effect of this position ie that the likelihood of launching the dredge at Alexandra in the near future is remote, and as the level of the river at Clyde is substantially the same as it is at Alexandra, the Clyde dredge is in much the same situation. The official readings of the river level on the gauge at Alexandra since February 15 are as follows: February 15 2ft lOin February 18 Oft din February 28 sft 9iri March 3 Oft llin March 0 sft 6in It is estimated unofficially, but probably with a reasonable degree of accuracy, that a reading of at least nine feet on the gauge at Alexandra is required before any hope can be entertained ot launching the dredge. Only exceptionally heavy rains on the high country ot the river watershed would produce a sufficient rise for the dredges to be floated, and there seems to be little likelihood of their launching before* next spring, when the melting of the snow may be expected to bring about the desired fresh m the river. While hopes are entertained throughout the district that the dredges will win a large quantity of gold, it is realised that substantial returns will have to be maintained before sufficient profits are earned to justify the payment of dividends.