ARROW JUNCTION GOLD DREDGING COMPANY.

Otago Witness, Issue 2430, 10 October 1900, Page 20

ARROW JUNCTION GOLD DREDGING COMPANY.

The following is the iirs'fc Annual repoit to be submitted at the meeting of shareholders to be held on the 19th inst. . — T " Your directors have much pleasure m subrmuting to the shareholders the balance sheet for the ten months ending 31st August, 1900. Immediately upon their appointment the directors lost no time m placing contracts with Messrs Cossens and Black for the machinery, Messrs Nees and Co. for the »pontoons, Messrs Marshall and Sons for the boiler and engine, and Messrs M'Giegor and Co. for the winches. The report oi the engineer, Mr Leslie H. Reynolds, which is attached, shows that the contractors for the machinery have done splendid work and lost no tune, while the- contractors for the pontoons have given every satisfaction. The boiler and engine have been forwarded to the claim some time since, and the machinery ,is now being all forwarded. Contracts have been let for the carriage to the claim, and the engineer is making arrangements to start erecting the machinery immediately. The dredge is, by the permission of the Morven Ferry Company, being built on tho latter company's claim. The directors of the latter company have approached this companji- with the view 'of having their claim prospected with our dredge for one month. The terms offered are £50 per week, and all gold won over 12oz in each week. Your directors feel that this is <a> .matter for the shareholders to decide, and you will be asked to vote either for or against the proposal. The retiring directors are Messrs T. Johnsto:io and T. Smith, and both are eligible and offer themselves for re-election. The auditors, Messrs Mitchell, Leslie, and Don, also retire, and offer themselves for re-election.. Our engineer, Mr Leslie H. Reynolds, leports, September 26, as follows: ' I have to-day inspected the following portions of the machinery for the Arrow Junction dredge which have been completed by Messrs Cossens and Black, and I am 'pleased at the really excellent quality of the work and the piogress made by the firm. The following portions leave to-day or to-morrow: Ladder, buckets, gantry, scieeu, and pump. The gearing and balance of the contract leave next week. lam endeavouring to arrange with a suitable man to take chaige of the erection, and will advise you in the course-of next week if he is fiee to fill the position.' "