SMITH'S CREEK AND BANNOCKBURN COMPANY.
The first annual meeting of shareholders in the Smith's Creek and Bannockburn Deep Lead Gold Dredging Company (Limited) was held in the boa,rd room, Agricultural Hall, on Friday afternoon. Mr John Moloney (chairman of directors) presided, and there were a number of shareholders present. The Chairman, in moving the adoption of the annual report, which has already been published, said that considerable delay had been experienced at the outset in getting the dredge put in hand, owing to the company requiring a special kind of dredge fo^ their claim. However, these difficulties were now being got over, and the report of the engineer (Mr F. W. Payne) set forth the progress of the work : — Ladder and buckets, tables, machinery, and boiler (J. Sparrow and Sons) : Ladder and buckets — Material for ladder on hand; buckets all' cut ready for bending. Tables finished. Shoots, pipe 3, etc., under construction. Machinery — All cast-iron castings nearly com' pletcd ; steel castings bsingr done in Melbourne ; inlet valves finished ; condenser halffiiiished; most of the forgings done. Boilei — Material on hand for construction. Elevator and winch (J. M'Gregor and Co.) : Winch iiames finished, castings n.ll ready and being JMachined; shaft 9 for drums, etc., cut. Elevator buckets cut and being bent, and all patterns for gearing finished. Wood for framing expected daily. Pontoons : Moat of the timber on the ground. Dam nearly finished. Mr D'Arcy Haggitt seconded the adoption of the report. Mr Harty said lie had recently paid a visit
to the claim. As they knew, he had doubts at first whether the claim was dredgeable, but from what he saw on his last visit, the dredge which had been designed for the company should work it easily. He had evidence of the richness of the claim by obtaining samples of gold from prospects which he had made. It would take six or eight years, in hia opinion, before the dredge got to the deep lead.
In reply to a question, the Chairman said that the directors would begin to make calls next month.
The motion for the adoption of the report was carried nem dis.
On the motion of Mr Keith Ramsay, the retiring directors (Messrs J. Horn and J. H. Morrison)'?vere re-elected, and Mr W. T. Monkman was re-elected auditor.
SMITH'S CREEK AND BANNOCKBURN COMPANY.
Otago Witness, Issue 2433, 31 October 1900, Page 21
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