ISLAND BLOCK EXTENDED GOLD MINING COMPANY.

Otago Witness, Issue 2171, 3 October 1895, Page 17

ISLAND BLOCK EXTENDED GOLD MINING COMPANY.

An extraordinary general meeting of the Island Block Extended Gold Mining Company was held at the Criterion Hotel last nijjht. Mr J. Hynian presided, and there were 15 shareholders present. The Chatrman moved — "That it has been proved to the satisfaction of this meeting that the company canuot, by reason of its liabilities, continue its businewj, and that it is advisable to wind up the Fame, and accordingly that tlie company be wound up voluntarily." Mr Murdoch seconded the motion. Mr J. A. Chapman asked what was the amount for which the directors were personally liable. The Chairman : About £1703— £1500 besides the Mr J. A. Chajshax said he noticed in tbe Daily Times some lime ago that there had been an offer of £1600 for the cluim. The Chairman : No such offer was ever made. • Mr J. A Chapman th m=;ht it wns a pity that the company should go into liquidation, if the directors had a property worth more than they owed. He had heard that three parties were ready to purchase the claim. He moved as an amendment—" That another attempt ba made to get the claim worked, ei'her on the lines of Mr Bawlinb's offer or on the lines of the urr.iDfiement made with the workmen previous to Mr Uawlina's offer being mad*." Mr hiir.LMKRniNK seconded the amendment, which on being put was leal, only the mover and Bocnndrr voting for it. # The motion was subsequently carried by 13 votes to two. It \va^ decided to appoint Mr Walter Hizlop as liquidator, at tbe remuneration of 2.J per cent on tho gross amount- realised from the sale of the property. It was also resolved to recommend the liquidator to sell the clvim by public auction. A shareholder moved—" That if it be possible fife directors fees' be a fmt charge on the proceeds of the Bale." Mr Sparrow seconded the motion, which was carried. On the motion of Mr John Thompson, a hearty vote of thanks was unanimously accorded to the directors for their services during the past five yea re. PRESERVATION INLET GOLDFIELDS. The Hinemoa brought to the Bluff from Preservation Inlet a nice cake of gold, weighing over 90oz, from the Morning Star Mining Company, the result of 16 days' crushing, from about 150 tons of etone. The Southland Times learns that the reef is looking very well, ami the stone now being crushed should yield a better percentage of gold than that from which ths present cake has com*. At the GoHeu Site iuiue, under Mr Lv no's management, they arc sluicing away the face on the north side of the river, in order to show the form»tiou, but it is feared the last has been seen of the gold from this claim. Mr Wilcox, the late manager, goes out by the Hinemoa, and proceeds to the Thames. At Cuttle Cove good stone has fceen taken from the winze, and Mr Bishop has Sot out two tons to be tested at the School of [ines, Thames. Trent und Williams are driving for a reef on Crayfish Island, and are making steady progress. At Sealers', Lous Longuet has ■tripped his reef, and it looks remarkably well. The alluvial digging is almost a thing of the past, t ery few doing any good at all. Mr Gow, assifltaafr.

Inspector of mines, came by thfl steamer and inspected the whole of the field. A NEW DREDGE. We have to announce the Buccesj-ful <•• mplotion of the hull of the new dredge VrUU of the tJlutha, built by Mr Willi,\m Jeukinsaud bin ussi-tiuit; Mr Jrtiues Henderson, for Mc.s-rs Pfinglu and party. This drcilge is constructed upon th • ny >st approved style to offer the least resistance to the turbulent river when in flood. Her dimensions are as follow : L-ngth over all 9Ut, breadth of beam 24ft, depth 4ft SJin, with a oft 6in wall for the ladder. The hull is constructed of kauri planking and a hardwood frame with doublu stringers below the bewns. The scaff of the stringeis having iron Straps bolted through each scat!. She is considered by all the dredge proprietor on tbe Molyneux at Miller's Flat to.' be the lust and strongest dredge ever put on the river. Thn total weight of material used in the construction of the hull alone is 68 tons sc\vt. MINING ON THE MAT AURA. Considerable interest is beinp taken in minjpg matter at Gore, tho prospect* for dredging provics a payable venture being considered by «?x])i'rts as vei7 favourable. Eight claims) are already iK'geed out on the Mataura nvor, on which it is intended to place dredgee. A current wheel dredge is at work on the. river, and tbe proprietors express themselves as being very well sitisfied with the result. Another dredgo, to be worked by steam, is being brought from Dome creek by a private syndicate, while Mr Roberts, consulting engineer, is making arrangements for constructing a new dredge for the Mataura River Steam Gold D;edging C mpany (Limited). A considerable number of men are reported to be making fair wapess by cradling on the beaches between Gore and Mandeville.