Notes from Greymouth. (From Our Own Correspondent.) GREYMOUTH, July IG.

Otago Witness, Issue 2471, 24 July 1901, Page 21

Notes from Greymouth. (From Our Own Correspondent.) GREYMOUTH, July IG.

The Mokoia dredge was stopped part o ! . the week for boiler inspection. The wash is 1111pioving. Perry's Rewaid dredge cleaned up en Satuiday, getting a little gold. The actual amount is not definitely given. The diedge started yesteiday morning, working thiee shifts a. day. so that by the end of the week -a leturn shou'd be given. The Cornwall (late Fotey's Creek) Company have finished removing the Brandy Jack's plant to their new claim, near Mai«den. The pontoons are almost finished, and will be launched aboiit, the end of the -neo".. The m.iclnneiy is now being carted. Good progress is being made with the erection 01 the machmeiy on the Mar&den No. 1 diedge. The woik in connection with the erection ot machinery on the Maibden No. 3 dredge is progressing favourably. The dredge is expected to have a tual run in a fortnight.

Messrs Hill and Trent, directors of the Waiwhera Sluicing Company, arrive overland tomorrow. They proceed to Barxytown in company with the engineer on Thursday to inspect the newly-constructed water race The Greenstone Junction dredge, which = tarted yesterday, is working smoothly. July 18. The Greenstone Three-mile dredge" has been working in solid ground since Monday. The manager of the Reefton United Company has received a wire from Mr Maynard, manager of the Keystone borer, stating that ha had bottomed at 33ft, with moderate prospects. The Rocklands Beach Company s dredge is expected to commence dredging again in a fortnight. The Kelson Creek Company's dredge is undergoing- an overhaul, and will be ready to resume operations about the end of next week. The contractor for the Ruby Creek Company's dredge expects to complete his work in about a week. The dredge will then be floated down to the lower boundary of the claim, where she will start operations. The Mosquito Company intend building their dredge by day labour, as well as other works in connection with the property, the whole being tinder the chaige of Mr Fleming. The timbar for the pontoons has been all fitted beforehand on the site, and is ready for building.' Mr Fache, who was for some time dredgemaster of the Waipuna, dredge, has been appointed to a similar position on the !North Besch dredge. The contractor for the erection of the machinery of the Orwell Creek dredge expects to have the contract completed withm four weeks' time. The contractor for building the Piince of Wales pontoons expects to have them afloat early next week. The boiler and engine have been forwaiiled to the building site. The contractor for the Caledonia pontoon launched the same yesterday. The whole of the company's machinery is on the claim. The Periy's Reward dredge is getting bottom at 18ft, which is rather unexpected, considering that prospecting holes about two chains ahead bottomed at 25ft. 6m and 27ft 6in respectively. Ihe diedge is at present working through silt, and there are only a few inches ot waehdirt. The Grey Ri'-er dredge broke her spmdie last night. The local foundry is effecting repairs, and the dredge is expected, to commence again to-morrow. A meeting of West Coast shareholders in the Teremakau Gold Dredging Company was held last evening to consider the financial position of the company, when 10,000 shares were represented. The following resolutions were unanimously carried — " (1) That the dnectois be requested to obtain payment of all calls immediately, and, failing such payment, that shares be forfeited, and revert to the company. (2) That the directors be- recommended to issue 300 £1 redeemable debentures, bearing interest at 25 per cent., to be secured by mortgage over the dredge and claim, such debentures to be issued to shareholders pro rata." The No Town Cieek pontoons were launched yesterday. The Reefton United duectors have selected a site for the election of the pontoons. July 19. The New River dredge is not working this week. Advantage was taken oi the stoppage to thoroughly overhaul the machinery, which is now in first-class order. The dredge will resume work on Monday morning. Payable gold is expected to be struck during the week. The Giey River dredge, after having the spindle repanecl, commenced woiking again last night. The Maori Gully pontoons framing is finished. The timber for the planking is now oil the claim, but it is thought desirable to let the frame stand for a while beiore proceeding with the planking. The timber foi the pontoojs for the Shellback Company is being carted to the claim. As soon as sufficient is on the claim a slart will be made to build. The Giey River Consolidated dredge woiked steadily during the week About 20oz is expected. It is understood that the directois of the No TOW2I Xo 2 Gold Dredging Company do not intend to accept tenders Tor the construction oi the pontoons until the results oi the No Town Creek dredge are known. This, oi course, mei'iis a further delay of at least 10 weeks. The Pactolus return should show an lmpiovement on last week A peculiar incident has occurred in connection with the Greenstone Creek dredge. It appears that the dredge dossed the creek just out from the end of a tailrace owned and worked by a paity of Chinese sluicers. The Celestials lesented this by pouring a flood of Mudge and tailings into the dam where the dndge was woiking. The move was met by J 'nc dredgemaster turning his elevator on to J'- -, boxes and dumping tailings therein, l! checked the progress of the enemy for a t...iL, but it was only for a time, as John's u'^uiue-. were by no meaiis exhausted. Gather 'ng io:ces he rushed to the conflict this time by adding seveial new boxes and extending the tailrace into the dredge buckets, wheie it poured such a torrent ot missiles as forced the dredgemaster to seek the good office of Mr Warden M'Farlane £>s mediatoi m the dispute. July 21. The week just concluded has been veiy favourable foi dredging, and, as a consequence, the returns m mo=t cases show an increase. The Maori Queen dredge, with lloz for 107 hours, shows a slight improvement. During the week patent grab hooks were fixed on the ladder, and aie working satisfactorily. The wash is getting looser. Tho dredge is running steadily. The Reeved Picprirtary leturn of 260z for 101 hours is =lightly above the averse. The wash is impiowng, but 13 difficult ox treatment. The Buller Junction diedge, with 270z 13dwt for 124 houis, is again up to the average. The dredge had a steady run during the week. There are duplicate parts of machinery on the claim m case ot a bieakdown, the diedge being 75 miles from the nearest foundry. As piedicted, the return from the Pactolus diedge, which gave 3ooz 17dwt tor the week, showed an increase. Improving wash was stinck during the week, while on the other hand a difficulty was expenenced 111 treating the tailings. This week the dredge should give an increased yield, as theie are indications of the tailings lessening. The Al dredge leturn of 17oz show* a marked mipiovement compared with the previous re-

turn of lloz. This dredge ought to be shortly on the list of dividend-payers. The Grey Eiver dredge, with 18oz for 101 hours, shows a slight falling oft. It must, however, be remembered that considerable difficulty was experienced with the machinery. Ift is a pity the directors do not follow the exampls of the Ford's Creek Company by lengthening the ladder. The Leviathan return is Boz 12dwt for U0 hours. This is explained by the lact that the reef rose right to the surface during the week, necessitating the abandoning of half the paddock. The reef may dip at any time. The New River dredge will resume operation* on Monday. The Ford's Creek dredge, which had tht ladder lengthened, is likely to resume working on Monday. An extraordinary general meeting of shareholders in the Waipuna Company will be held here on August 16 The directors report says • Following the advice of dredgemasters, wa have done all in our power to keep the dredg« in operation with the hope that payable grouno might be met. So far our efforts have not been attended with success. The directors have reason to beheve that the property is worthy o further efforts being made. With this objeci in view, they suggest that new capital b« created, and applied as follows : —(1) To paymem of the company's overdraft of £1800; (2) tc putting m hand some systematic prospecting either by shafts or bores, or both, estimatec to cost £200; (3) overhauling the dredge anc effecting necessary repairs or damage caused by wear and tear, estimated to cost £300. The expenditure on the renovation of the dredgev/ill be done only if a continuance of operations is warranted by prospecting. It is proposed to increase the capital of the company to £9030 by the issue of 3000 preference shares of SX each, the holders of such shares to be entitled to preferential dividends to the extent of 10 per cent in addition to the dividend tlvir may be paid for ordinary shares. In the e\ ent of the liquidation of the company, holders o. preference shares -would be entitled to have their capital returned to them before any diviciend is paid on ordmaiy shares. The preference shares will be offeied to members 311 piopcrtion to existing shaies, held, but if not applied for on or before the 3Gth September the directors may dispose of the same :n such a manner as they think most beneficial to the company. July 22. All the working dredges commenced operations again this forenoon. The New River dredge, however, will not commence working till to-moi row*. This further delay was caused by repairs to the wiuch taking longer than was expected. The contractor for the construction of the tramway fiom the- railway line to the building site for the Leviathan Freehold Company have made a start. Most of tlie timber for the pontoons is on the ground, and a start with their constiuction will be made shortly. In regaid to the No Town No. 2 pontoons there is a general feeling of regret amongst local shareholders that it has been deeded tc delay the work. A delay of thiee months is ceitain, as the Xo Town Creek pontoons were only launched a few days ago. Old miners in the locality declare that the giound will be highly payable, while prospecting proved it to be so. This company was registered on April 24 of last year, and so far the only contracts that have been let are for the machinery and timber for the pontoons. The engineer has passed the pontoons for the Ross Day Dawn Company. The work o\ constructing the dam is being pushed on, and another week should see it completed. A quantity of machinery 13 on the claim The Greenstone Junction dredge is still cladi ing her paddocks out. The Three-mile Greenstone's return of 30oz 15dwt is considered highly satisfactoiv. Ihe company being out of debt, this rlredj:o ought to bs soon oil the list of dividend-paytis.