EXPORT OF GOLD.

Otago Witness, Issue 2456, 10 April 1901, Page 20

EXPORT OF GOLD.

WELLINGTON, April 4.

Returns show that during the month of March. 40,0020z gold, of the value of £157,159 were exported, as against 39,1560z, of the value of £152,980 for the corresponding month of last year. The quantity of silver entered for export was 35,2050z, of the value of £3599, as against 2^,2240z, of the value of £2394. The gold returns for the first quarter of thapresent year were 115,2990z, of the value of £445,119. For the first quarter of last year thequantity was 95,9230z, of the value of £373,220. The increase for the quarter is 19,3760z, and in, value of £71,899.

TRAFALGAR GOLD DREDGING COMPANY. The following is the fir3t annual report o£ the Trafalgar Gold Dredging Company: — "Your directors have pleasure in presentingthe first annual balance sheet- of the company to the. shareholders, together with the report of progress made since the first statutory meeting, held on Tuesday, March 6, 1900. Immediately after their election, your directors--appointed Mr E. Roberts engineer to the company, and instructed him to prepare -plans and call for tenders for machinery. This wast done, and after considerable trouble and negotiations the contract for the machinery (including boiler) was let to the Despatch Foundry, Grey^mouth; price £4600, delivery by May 1, 1901, and the engineer is confident that it will be finished to contract time, judging from his last report. A contract for building the pontoonswas let to Mr G. Erickson for the sum of £868, and they are now almost completed. The engine has been delivered on the claim, and all other work in. connection with the company's dredge is proceeding satisfactorily, and if no unforeseen difficulty arises it should be working by the end of June. Mr Ackroyd, one of your directors, visited the claim at a recent date, and was highly pleased with the prospects of the company. He also interviewed the manager of the Despatch Foundry, who assured him the machinery would be finished to contract time. The retiring directors are Messrs W. R. Frost and James H. Nimmo, who offer themselves for re-election. The auditor (Mr Powell) also offers himself for re-election."

GOLCONDA GOLD DREDGING COMPANY.

The first annual report of the directors of the Golconda Gold Dredging Company, to be presented at the annual meeting of shareholders, states: — "Your directors regret to state that so far no contracts for the dredge have been let, although the matter has been in, the hands of the consulting engineer since the company was registered. The plans and specifications, accompanied by tenders, only came to hand in October last, but your directors were not satisfied with either, the tenders being too high, and to build a dredge from the plans submitted would necessitate either borrowing or increasing the capital, and your directors were very much averse to both, especially as it was their firm opinion that by waiting a little while a suitable dredge could be procured without interfering with the capital or borrowing in any way. The class of dredge reqiiired to work your company's claim is similar to that of^the Leviathan, on which you are no doubt aware mang and. expensive alterations had to to

effected. These facts were noted by some of your directors when on a visit to the West Coast just when the Leviathan started, and they were of the opinion it would be better to await results from that dredge before ordering yours. Another cause of delay was the nonarrival of tenders from America, which your directors were led to believe would be much below any other, but results pioved the Teverse. The consulting engineer advises that amended and modified plans are now completed, and tenders are expected in a few days.