LATE MINING.

Otago Witness, Issue 2387, 30 November 1899, Page 38

LATE MINING.

(Contimtnl from woe £7.}

A veiy largely attended meeting of the Golden Run Dredging Company was hold at "Wood's Hotel on Tuesday for the purpose of reconsidering the allotment of the 2000 additional shares which it was decided to issue at the annual meeting. Mr Hart occupied the chair. The former decision aliotting the shares among the 6000 original shareholders was rescinded, and it was decided to issue the shares at a premium, of 108 per share to the 9000 shareholders of the company, any 6f the new shares not applied for to be sold for the benefit of ■the compauy. The offer to purchase the company by a local syndicate for flotation in the ' English market was then considered, but .is the offer y/as a , somewhat, indefinite one, it was decided to take no steps in the matter at present. Five 'shareholders were appointed for the purpose of considering, in conjunction with the directors, any definite offer -that might be made prior to submitting any such proposal to tho shareholders. It was mentioned that the drodgc was in a sufficiently forward state to warrant the hone that sho would be working at the time originally stated — namely, in March, next. The dredge will be an exceedingly powerful one, and is estimated to cost about £10,000. At a meeting" of shareholders of the Otago Gold Dredging Company, held on Tnesday, and called for the purpose of considering the'advisability of selling their property to an English syndicate, it was unanimously resolved that it would not be in the interests of shareholders to dispose of their properly at the present time. A statutory general meeting of shareholders in the Junction Electric Gold Dredging Company will be held in the Chamber of Commerce on Tuesday, December 12, at 4 p.m. The Woolshed dredge washed up for the week ending Friday, 24th inst.,.39oz 17idwt. The return from the Bengerburn dredge last week was 12oz 16dwt.