DREDGING.
■September 19.— During the past week the principal topic of conversation among dredging ! speculators has been the- quick flotation of the j Klondyke Company, in which shares were oversubscribed by 1800. The claim is located a little below the famous Blue Duck claim, at Matakanui, in olden days known as Tinkers. Having been over the ground, and noted its exact position, I am of opinion that it lias not been over praised by the experts who have reported as to its probabilities of being a paying claim. In fact, from its close contiguity to the Blue Duck claim, I »m of opinion that the gold will be found evenly distributed over +he bottom. Not only/do I base this opinion on the claim's proximity to claims the richness of which have been proved, but also to tlie fact that its location is near to the embouchure pf an ancient river that denosited its debris in the Manuherikia Lake valley. The drift, on which lies an accumulation of tailings of several feet in depth, extends to a depth of 30ft, the gold lying on what is known to miners as the Maori bottom. No doubt a little fine gold will be found in the top stuff, but not sufficient to pay, as the principal ' gold lies on the bottom. The main point the company has to keep in view is to put on a dredge strong enough and of sufficient size to attack the ground and work it to advantage. The Golden Beach washed up on Saturday 660z for the week. This dredge is now working very satisfactorily, arid the' methods of management are conducive to the best interests 6f the company, the claim being worked in a most systematic manner. The Moa got 18oz for last week. This dredge being right in the track of the drift brought down by the Manuherikia, has considerable trouble m battling' against the travelling drift, and in my opinion she will need to be moved shortly higher up the claim. The Molyneux Hydraulic won 31oz last week. 1 hear that this dredge hag been infringing on the claim held by the Eureka No. 2, and that a writ for £500 damages has been issued against the Hydraulic Company. 'At the last sitting of the Warden's Court, held at Alexandra, an interim injunction was granted, at the instanco of the Eureka Company, to restrain the Hydraulic Company from making further encroachment with their dredge on the Eureka Company's claim. I hear that the Eureka Company's dredge No. 2 is doing remarkably well. It was stated in the Dunstan Times that this company had a return last week of 2520z. .Whether this be correct or not I cannot say, as no reliable information can be obtained from any one connected with the dredge. There can bo no doubt but that the dredge holds its own as a payable one with the bast on the river. The othei private companies are also doing handsomely, especially the Ngapara. This party has lately sent to England the plans of a new steel dredge for the Nevis claim. They have also cabled to one of the partners now in England to remain and supervise the construction of the dredge. This does not appear quite fair treatment of gut New Zealand foundries, from which manufactured ironware equal to English production can be produced. In any case, one would imagine that a company earning its wealth from the public estate would have some consideration for local foundries, and give them a' chance to tender for the work. When this sort of thing goes on, no one need be surprised at manufac•turers petitioning the Government to impose proteotive duties on imported goods. The pontoons for the Matau Company are drawing near completion, and will be launched within a fortnight. Messrs Knewstubb
lent job of the pontoons, using nothing but timber of the best quality They have a reputation for good workmanship, and as they never slum their work, the company can trust them to do it well. The Nil Desperanciuin and Cambrians dredges continue to work well, but to the surprise of their owners and local dredging experts, they have not yet struck payable gold. The Island Basin Company's dredge Victoria makes a start during the week on the Ranfurly claim. The general opinion is that here she will get gold. This dredge has been most unfortunate, and all echo the wish that her luck may now change for the better.
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Bibliographic details
Otago Witness, Issue 2325, 22 September 1898, Page 29
Word Count
748DREDGING. Otago Witness, Issue 2325, 22 September 1898, Page 29
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