UPPER CLUTHA GOLD DREDGING COMPANY.
An extraordinary general meeting of shareholders in the Upper Clutha Gold Dredging Company was convened for Thursday afternoon for the purpose of considering a resolution that the company cannot by reason of its liabilities continu 0 its business, and that it is advisable that it ba wound up, and that a liquidator be appointed for such winding \jy. As there was not a sufficient number of shareholders present to form a quorum, the meeting had to be adjourned for a week. The history of the working of the dredge briefly is that aijcut two months' work was done, during which time nearly half the claim was prospected. Some fair returns were obtamed, but on the whole the yields did not suffice to cover working expenses, and as the n'orjey gradually becpme exhausted there was nothin? left but to suspend operations. At a meeting of the debenture-holders on Wednesday it was decided that they had iio proposition to make in connection with carrying on th»> operations of the company.
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Bibliographic details
Otago Witness, Issue 2507, 9 April 1902, Page 23
Word Count
173UPPER CLUTHA GOLD DREDGING COMPANY. Otago Witness, Issue 2507, 9 April 1902, Page 23
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