THE WEEK'S MINING NEWS

Otago Witness, Issue 2509, 16 April 1902, Page 22

THE WEEK'S MINING NEWS

Mr William White ha= disoo\eietl an iron ''blow*' at Moke Creek which he believes is of the greatest importance to the district and the colony generally. Mr White states that the iron " blow " will " last fcr centuries and will give employment to more men and boys than all the quartz reefs iv> Otago pit together."" Mr White has forwarded the following application to the Minister of Mines, Wellington: — "I beg to bring under your notice the great mineral wealth that is undeveloped at Moke Creek. I bagged one ton of ore, which was sent to the smelters and sold for £6 10s per ton for the crude ore. I have lately found the greatest and most wonderful lode that it has been my lot to see. In my opinion it will become a greater benefit to the country than the alluvial gold when ifc has been opened up and worked, and will be classed as one of the great mines of the world. I should be very thankful indeed if you would kindly send an expert to report on this fin 3."' The directors of the Old Dunvtan Gold Dredging Company have addressed a circular to the shareholders informing them that arrangements have now been made for the full equipment of the dredge so a 1 } to take advantage of the coming wiutci's low level, and advising that, as the funds available will be ?om: £300 to £400 short, it is proposed to make a call of one shilling per share, repayable out of the first available money, together with a bonus of one shilling for every shilling so contributed. The arrangement thet has b«eu made is to give a joirft mortgage over the dredge and plant to the chief creditors of the company and to the contractors for the erection of the machinery, etc. — in all some £1000. The dredgemasteT of the Central Electric thedge -wiied oy> the Btb that he xestraied dredging at 10 o'clcfck on MomUpy morning, the r.ver being favourable. The Mount Benger Mail states that Mr Donald, the contractor, has made good progress in getting the "Roxburgh Jubilee pon.toons ready for removal to the claim, as everything is now in position. The new dredge for the Jutland Hydraulic Dredging Company, which bought the property of the late Jutland Plat Company at Waipori, is getting well on towards completion, and ifc is anticipated that it will bo ready for work by the end of the present month. All the machinery except the elrctric lighting plant and the rippk-s has br.en despatched to the claim, nr.d most of it is already in position. The remainder is expected to bs sent forward this week, and will be erected as soon as possible. The dredge will be driven by water power, and the work of laying the pipes for carrying the watar is progressing steadily, and another week or so will probably see it completed. The Ladysmith Company washed up on the 27th ult. for 220z 17dwt. Although it is six weeks since the last wash up, only a very small portion of that time ha 3 been epent in gold-getting, as the manager has been engaged in stripping. The Mount Benger Mail understands that he has about enough ground stripped for another month's sluicing. The liquidator of the Tersmakau Gold Dredging Company lias decided io accept lh~ tender of Mr "William O'Kane, of (Jreymouth, for the purchase of the company's claim, pontoons, and machinery, the price being £2000. This sum will suffice to pay all the creditors of the company in full and leave a surplus of between £400 and £500 for distribution amongst the ali«rcliolcl.er3, wlio Trill probably receive about threepence per share back when everything is settled. The action of the liquidator in disposing of the assets in preference to reconstruction will no doubt be appreciated by those shareholders who would have been unable or unwilling to take up shares under the scheme for reconstruction, as they wHI now receive something back, though the amount » small, while otherwise they would have lost all the money they put into the company, in addition to which it was always open to those shareholders who wished to see the company carry on. to .join together and attempt reconstruction. The directors of the Enterprise Gold Dredging Company have declared a dividend (the fifty-first) of 2s per share, payable on the 14th inst. The dredgemaater of the New Halfway House dredge reported on Monday, 7th, that he got all the lines clear after the flood, and started work on the sth inst. Everything is running well. The dredgemaster of the Happy Valley dredge (Mr A. N. Wakefield) reports that the dredge is running well. One of the boiler tubes burst on Saturday evening, but he got it stopped up without any loss of time. He has some very bad clay to contend with, but a& he sweeps the face around he will work out of it. He thinks about a fortnight ought to see him through it and back upon the ground where he got the good returns. He is working every foot of the claim as he proceeds, and three months ought to see him with a straight face right across the claim. He doe-3 not think the returns for a week or two will be very satisfactory, but as soon as he ploughs through this heavy seam she will come out all right again. Shareholders in the Dunback Dredging Company having raised enough money to give the company a new lease of life, the dredge has made another start to prove the value of the claim. Work was resumed about a week ago, and the dredgemaster expects to be able to report favourably in another week or so. The dredge is working well. Satisfactory progress is "being made towards getting the Lower Enfield dredge completed, and a, start should be made within a reasonable lapse of time. The contractors .are getting en very well with the construction of the Pelton machinery, some of which has already -bedn despatched to the claim, and the work of erection is being proceeded with as fast as the material is received. The dredgemaster of the Central Electric dredge reported on the sth inst. that the river wa« only a few inches higher than at the beginning of last week, and he does not think he will he troubled by any more drift. Wliau ha

____ l fc stopped dredging the ground wa? getting depp% and the bottom a little softer, so he thinks in will get on some good wash soon. Dredging was resumed on the 7th. The dredgemaster of the Rankleburn Arnalga* mated Companies' dredge (Mr Ivie Templeton) Teport3 under date April 4 that last week'si run was a very broken one, with the broken sole-plate of top tumbler plumber block. The timber is also very troublesome on the* inside cut, where the best prospects are, bu.» if he can get a steady run for this week ha thinka the return will be a little better than any he has had. Including last week's, the total returns received from the Lioness claim have been 48oz lldwt 2gr for 934 hours' dredging, and of this quantity 230z lCdwt has been won during the last 230 hours' dredging. The dredge has to be removed up to the Great Beach Company's claim, and the steamer from. Balclutha will tow her up whe-n. she goes up with the next load of coal. The return this week will be from the Lioness claim, but dredging will probably be resumed on the Great Beach claim on Monday next. The dredgeniaster of the Gold Deposit dredge (Mr Matthew Harliwick) reports under date 7tk inst. that the river is falling fast, and it is a pity to loso the opportunity of dredging. The dredge is complete, ready waiting for the goods ordered. He thinks the place where he has got the dredge is likely to be a good one, as old diggers have told him that they have got good gold there in the early days. He has «. good crew together, but if a start is not made"they will leave him. The position of the company is that the interest on the debentures is due, and the directors wish to have a satisfactory arrangement made with the dobentureholders as to the use to be made of the levy of Is per share, which is now being subscribed by the shareholders. Bo3id?s providing for a portion of the interest now clue, the directors have been asked to become personally responsible for. the amount of wa;»c-s jir cessnry to run, the dredge for the time- allowed to teat the cla ; m ; but shareholders cannot expect the directors to accept this responsibility unless sufficient funds are provided for that purpose, and it is hoped that the shareholders v?iil be " sufficiently alive to the position to assist the directors by subscribing the levy of Is per share i now made. There should be very little risk of j the dredge- not obtaining paynblo returr.s from I the start, as both the dredge above (Long j Valley) and the one be'.ov (Molyneux Kohinoor) j ohtainod gold right away, and the liver being I now favourable, theTe should be little fear • about getting good returns from the Dej posit. It is. however, a matter for the sbarej holders or that company to see that the direcI tors are provided with eumeieni funds to mak3 j a start, and that without further delay. [ The dredgemasfcer of the Point dOr Gold • Dredging Company in his report for last week states that his time for working was very broken, owing to the leader rollers having crrried away on Monday morning. The valvo spindle also broke, and six hours were lont in effecting repairs to it; -while after this ihe thunderstorm caused him eonsiilerabfT- iosi of time, as the well v.-as filled with drift timber and the water pip* in the ucreen was blocked. The cup on which he was working was also filUd with drift, lull? & day being ocpupifeA in clearing it again. . The ground continue* much, the same- as previously, and if the dredgemaster gets a steady run he expects a fair return this week. ' As shareholders in the Electric Extsndecl Gold Dredging Company do not seem to be disposed to tale up- the necessary debentures to tide the company over its financial troubles, or to find the additional capital required to enable the company to carry on, the- directors hare been forced to call an extraordinary general meeting, when a resolution in favour of voluntary liquidation will be consid2red. Though this fjtsp has been taken, shareholders will still have a chance to save their properly, as afc ths meeting an opportunity will be afforded them to bring forward proposals for reconstruction or for providing the necessary capital in some other wsy. As the poitoons of the New Nevis Company's dredge show signs of leaking, the directors have decided to discontinue dredging for the present, and have the machinery removed to allow the pontoons to be repaired and strengthened. The work, which will be put in hand without any delay, will be done tirder the supervision of Messrs Xees anil Co. The dredge will nofc resume work until after the winter is over, but in any case dredging could only have been carried on for about another month, as operations are always suspended during the_ winter in this district, where the prevailing influences are the reverse of those applying on the Molyneux. The K"ew Nevis dredge gets her work in the summer, when most of the others are handicapped on accotint of the high river, but has to close down in the winter while the severe frosts prevail. The secretary reports that the return from. the Chicago dredge for the -week ending April 5 was Boz 3dwt for four days. The secretary repots that the return from the Ngapara No. 3 dredge for the week ending 29th March was 9oz Gdwt for 135 hours, and for the week ending sth inst. lOoz 16dwt for 135 hours. The Diuutan Lead dredge made a fresh start at 5 o'clock on Tuesday afternoon. The dredgemaster of the Hise and Shine diedge reports that he resumed work pt 4 o'clock on Wednesday afternoon. Everything is running v/el!. The dredgemaster of the Central Charlton dredge wires the secretary that the pinion, stripped on Thursday morning. He got'a duplicate at Mataura, and expects to have e%-ery-thir.g right again by Saturday night. The dredgemaster of the Saiior's Bend dredge reports that (1 the river continues to fall as it is doing at present he expects to be able to make * start next week. He has been instructed to shift the dredge down to the point where he intend^ coramer.'jing work in order to take advantage of the low river as soon as possible. The dredgemaster of the Hartley and Rilcy dredge has made preparations for an early resumption of work, but he may not get a start for a while yet. He started to shift the dredge on April 2, but was delayed considerably by, the heavy thunderstorm which visited the Cromwell district that night. In a report to the secretary on the 4th inst. he stated that he had got down past the worst place in the claim. While shifting he let the ladder down as far as it would go, but coiild uot get bottom, and he then put out a weight and line and found that the depth was 47ft, which was much too deep to allow work to be carried on. He expected to get down aa far as he wanted to go (just above the big rock in front of the brewery) on the sth inst., and it was his intention to discharge the crew till the river is suitable. The shallow ground in the claim . has all been worked, and the remainder is a. good deal deeper than that worked previously, . hence the river- will reqnire to be at a lower level to enable dredging to be. carried on to advantage, and there is no alternative but to wait in enforced idleness in the meantime. One of Messrs Payne and Peck's centrifugal elevators has just been turned out at the Otago Foundry (Messrs J. M'Gregor and Co.) for use on the Sandy Point Company's dredge. ' This elevator has been constructed on the same principle as that now working on the Ngapara. No. 3 dredge, but is much larger, and is expected to be able to stack tailings to a height of 45ft. The diameter over all is 7ft, and the distance across to the outside of the beaters is sft 6ia. while the width across the face of

the beaters is 2ft 7in. The beaters will make about 240 revolutions per minute, and -will be able to deal -with irom 120 to 150 tons per hour. The elevator, which weighs some six tons, will bs driven by a separate engine, a small vertical one of Marshall's make, and will be fitted with a friction clutch. It will be sent away to the claim this morning, and will probably be ready for work in about a fortztight's time after reaching its destination. The elevator now in use on the Ngapara Ko. 3 dredge has given every satisfaction so far, and has proved conclusively its suitability for ordinary claims, but the working of the one on the Sandy Point dredge will be watched ■with a good deal of interest, as it 13 considered by men qualified tc express an opinion that if it is a success it can be worked to advantage on any dredging claim. The Sandy Point dredge is working close to the bank where the "tailings will require to be .stacked ,at a greater height than is generally required. Elevators, similar to that for the Sandy Point dredge, are now in course of construction at the Otaeo , Foundry for the Earnscleugh Ko. 1 and Island Block dredges, while if the results turn out satisfactory there is a probability that a good many other compamc-s will follow suit. The Meg and Annie Gold Dredging Company have declared a dividend of 2s per share, ps>able on Monday last This makes the 'ixth dividend declaied by the company, totalling to date 12s per shaie. The thirtieth dividend (Is per share) has just been declared by the Empire Gold Dredging Company, which has pa:d 40s 6d m dividends to date. Th-» secretary of {he Fourteen-mile Beach Gold Dredging Company leportb that the dredge is now workirg. Mr M'L:ntock, who is well known in jnimrg circles in Dunedm, and who has been in the service of Mr F. W. Payne (consulting engineer) for the past three years, ha" been appointed to The position of manager of the Gore Engineering Company's establishment. The drsdererna-eter of the Happy Valley dredg" (Mr A. X. Wakeneld) repoits that some of the boiler lubes having again given out, he has found it necessary to have them renewed. There was therefore no v - 3 s !i-up last week. Occasionally -when secretaries of dredging companies receive wires fioni the dredrtmasters with rej.orJ 1 o the prospects (the condition of the mats or the nature of the wash) they are no: disposed to makr the contents public, their re-i=on for so doir.g being that they are under toe inipressio.i that should the forecasts contained in the messages not prove correct shareholders who might buy or sell shares on the strength of surh information would be disappointed, and probably endeavour to associate those concerned with some underhsnd business. Vl I these telegrams should, however, wo think, be made public through' the press, as shareholders are entit'cd lo be acquainted with their contents, and to keep them in the dark as to the operations of any particular dredge is giving an unfair advantage to a few who would no doubt become possessed of the information. If shareholders decided to operate on the strength of sulli information they would, of course, ha\ c to undertake a certain amount of nsk, and they could jiot reasonably blame the directors or drcd^eniasier. as the news is invariably sent in good faith, ard for the benefit of tho bhaieholdeis. The diedgera, stcr of the Leviathan dredge •wired on tii_> b.h -" Started dredging 10 /clock th:- inorniiig, cverythirj* going well." An A'.i.i.li"(l tcl^qTam c:i> - — Sirce the "pubhcat on oi the gold returns for the three ■weeks ending Apri' 3 additional returns have rome to hand fiom other mines in the Auckland district. These show a steady increase m the present year's output. The fiist quarter of 1901 yielded a total of £146,686, and, notwithstanding that the fir^t quarter of the present year, so i?r as the returns are concerned, is not yet completed, the total output for the perud to date a!readv amounts to £177,812, or an increase of £31,126 oveT the first three months of last yeai. Messrs Park, Reynolds, and Co. ae!l the Gold Quocn d.edge and c'-Min on May 9. There w'J l.c* no wash-up horn ihe laoljneux Kohmoor dredge tins wee!: owing to the breakdown. The mi&li.'p :icc-s-<nat ">cl the eoi struction of a new- piuuimer b.ock in Dunedin. but this was p'nt forward on Tkui'-ciay, and .c!. c ! ould ba fitted up by now. Dredging will probably be lesumed almost immediately The direciors of the Victory Gold Dredping Company have bee'i able to borrow the =urn of £1250 on the deben'ure is«ue, f.nd with their finances thus anang^d will be er.ab'ed to give the claim a thorough t--t. 1 b.f dredge i= now 2>caring completion, and is expected to be at woik early m May. The dredcemnstrr of tho Central Klectiio dredge wired on Friday that lie had bottomed j at 40ft oa a hard le-ef bittern. There will be iio wash-up this week. The dredge la work.ng stsadilv As th* r'ver is going do*n t'lf E.truk Cnnpany*-. ch«Jge is bp -ig -W ftrcl to lljc de -|> ground u-ai'i m th<- i n*ro of the i'\oi. :u.d was expected 1o co.rMiiPi _ n diojgn g m* Friday or Saturday. The nidi v\e:e washed tlowii and 9cz of god were obtaiiied as the result of the few hours' dredging iv fohd wash prior to the liver rising. An interim report received b> wne from the secretary cf the Orwe'l Cicek Dredging Company (Mr J. A. Shgo) shows thut the dredge mccceJed in bottoming on the nch lead before Ihe breakage to tlie elector bh«it occurred. Mr Khgo states that from a piece of ground measuring 12 square feet Coz 2dul Itigr were c-btampd ou the bottom, and 19d-.vt from the top wash. This result is coiisideicd \ cry eatisfactoiy. A good deal of interest attaches to tho Ticfalgai, Victory, and Aldinga Companjcs -it the present time, owing to the £-nccc-=s of tlip Xplson Creek and Pnctolus drcclgcs, and the conircencemeut of operations 1 y thr three 'oraor dredges is awaited with expoctancv All the machinrs are well on towards completion, and tho Tmfalgai and Victoiy should pei a >-lart in about three weeks' time, while die Aldmga will ho ready about a fortnight after them The dredgemastcr of tho Thiee-mile (Greenstone Crcr>k) dredge reported on the sth mst ihit he tcok ad\.>ntage of the holidays on Haste. Monday and the following d«y to lcpair the winch, put so.ne rnets m the screen, ard e'.cai ay.ay the timber. The south coiner of the face is well over to the chff, and up to the time of wntmg the dicdgema^tci had not j-truck a»y old workings, but he expected to <!o so at any time. The ground was very shallow, and the wash very pool. The bottom v.ps getting more regular, but there wap no improvement m the wash or prospect, lie expected the timber to give him a lot of trouble, though it might run out at any tim", and h" wa? of opinion that he was p.ist the v.orst of it for a whi'«? The buried timber tear= the Ltuket^ badly, and is very rough on the machine. Ho will rpqu'ie to rivet the whole screen shortly, as the p'a'os are getting thin and the mcU .re bc^; nmr.g to get slack. The sudden f.ood in Hi" Molvnran en Wednesday week was one of the wir-t m i\<c expedience oi the dredgemastei of tho Lear. re Bock diedge, and he had rii ai.xicus time io r a while When the liver commenced _ lo n=e he pot tho full crow together and shifted i\f dredge to a place of safety. The pip"-s and condenser were blocked with weeds, and the force of the water was such thai when it Whs going over the bows bags of coal v. ere swent overboard. He also stn'c-i in his report that ho •would require to blew the boJcr (?o\vn when ihe river was clear again, as he expected it to bo half full of silt. Out of 120 hours pi^or to Jfcst Saturday ths dredse was workuu for only

!37 hours. He made a fresh start on Saturday morning, however, when everything was running -well. The river was falling fast, and the nights were getting cold. A wire received Ly the secretary yesterday stated that he 3topped dredging on Thursday owing to something going amiss with the main engine, and it is not likely there will be any wash-up this week, owing to the stoppage. It is fully expected that the levy of Is per share in the Gold Deposit will be sufficient to enable the shareholders of that company to see a rua for their money. Over ±112 has now been promised, and as the debenture-holders have agreed to accept part pnyment of interest if the amount of wages to run the dredge for six weeks is guaranteed, there should be htt'e difficulty in obtaining the amcimt required The dredgemaster of "the company is very anxious and persistent in his inquiries as to when he can start. The rivci is now favourable, the dredge is ready and on a like'y spot to obtiuii gold, but is only waiting fo: an e::i.:.i boat, some expanded metal, and a few yaids of matting It is astonishing to what lengths shareholders of gold dredging companies now let matters duft. Here is a compar.y with c-very thing ready to make a start under favourable ocditiou=, and only waiting for a matter of about a couple of hundred pounds, find a'though there are over 1-7J shaieholdcis on tho company's register, ojly 36 shaieholdcrs haveas yet subscribed to the appeal maele b.' the secietary. It is not 12 months ago since vendors, directors, aud shareholders hurried, worried, and pushjed to get things ready all at once, and now when a feiv pounds are required lo give the company a show of recovering itself vendors, cLrectors, and shareholders all try to put the responsibility of raising funds on somebody else's shoulders. Il the sharelioldeis of the Gold Deposit wish to save their company going by default they will have to put ar other £3 or £2 each into the concern, and save the position themselves. The amount of levy called will at once have to be forwarded in order that the dredge may 'ake full advantage of the present low river and test tlip claim thoroughly. The c-Ja^ni is well situated, the Coal Creek Flat dredge which adjoins getting fair returns, and there >s evc-rv reason to anticipate e atisfacto~v loiults fiom the Gold Deposit. llip ca!! made ot fchareholders is not heavy, and it is surely v.oit'i r.n effort to prevent liquidation, which is the only ccuise open if the money is net forthco.iv ing. The Grey River Consolidated D: edging Company ha\o arrangements to re=umc dredging almost completed. The debentures to the e^tcn' of £]500 at 25 per cent, are subscribed, and the legal documents are in course of prepiiation. Anticipating the issue being subscribed, propr.rat'ons were maele to have the diedge put into working ordei, and Mr John C. Riy w,i? appointed dredgemaster. Mr Ray reports th it the winch"3 hpve been thoroughly overhauled a.id it-paired, the friction gear and band jiveted, a bearing put under the second motion sh..ft, the hanging blocks of the laddei- shifted, fair leads and pump looked into tables alleicd, Imps all run out, and mooring put in. He has mzde a sUu-t diedging, but things are not lunning quite too Finoothly, though he expects siiortly to have evcythiiig m gooct running ordci. The depth of ground is 14ft from the water level and 6ft above water, and the width of the cut is about 25 yards. Hi James Hargreaves, the loc.il dnector, unt^tr date- 6th April, wntcs - "" J Msitocl tho dir-dge ca T'uirsdaj, the 3rd inst., when 1 found tho hands busily employed vi feliorteniiig the eccer.*r!C rods in coincchon with the pui»2:>. These have appaientlj been too 10-:{c from ths first, and have m consequence been bumping on the pump. Mr Ray has made some alterations in connection with the pulleys working the ladder, which will save the cGLppany'p ropes. The dredge has worked two six-hour shifts, two seven-hour shifts, and one four-hour shift, making a total of 30 hours, and thca dredgemaster tells me he had Z\oz for that time This would be obtained in cleaning up the face left, and should prove, when the dredge is working well, 20-ounce ground. As the dredge wvs i:ot at work, I cannot say how the alterations to the tables are going to work, but that wo shall get a. much better distribution of spoil is certain. There exists a notion that a great deal of the company's ground is very shallow, Biid Ih.<= idea arises from the fact that a bump of tho bottom can be seen under the water when standing on the bank. The area of such is very small, us can be seen now, inasmuch as the river opposite the dredge has cut dorm \cry deep and shows no bottom." Another effort is to be made to resuscitate the Ford's Creek Gold Dredging Company, which recently went into liquidation. ai:el "a pioposal has been set on foot by the guarantors for the formation of a new company with a capital of £M(K) in bhnrei of £1 each, ih-tri-Irjled in the following proportion —Guarantors' shares, £1250, contributing shares, £]250, and reserved or tut-t (fu'ly pud', £500. The proposed le uscitation of the company i-, in«dispecifically to pay of! all debts for which the laismg imd equipping the diedge. It is iiiithci piopo-ci, as a. solatium foi th*- lo^ <-us t-iined by the preference shareholder-, mi tho old company, to give them the " priority of right" to apply for th" ordinary shares, "and for every three contributing shares so applied for to give them one fully paid-up share out of the reserve or trust paid-up shares. With a capital of £3000, as against £8840 m the old company, and being free from the incubus of debt which embarrassed the o'd company, it is considered thpt this offers a rare opportunity to investors, judging from the fact that at the time the dredge accidental ly sank she was getting gold at the rate of 250z per werk , and this highly payable yield was obtained at what is considered by experts ps an " unworkable angle " for properly cle:tmne; the bottom, a« the buckets weto merely touching the bottom. The late dredgemaster (Mr Diiucnd) has a high opinion of the claim, and thinks that good uturns should be got a little higher up the creel:. S!'ar.fho'ideis who desire to do so will have an opportunity of standing in jointly and severally with the guarantors in the habihtv to the bank amount about £1250), by doing which they will jret ihe same Lei: "lts as are co^ferre'i on the latter under the schom- for reconstruction. The directors, of the ... -erpri=ie Cold Dwdg n.g Co-npany ha\e cleclarc-d a dividend nt tbn rat.o of 2s per °hare. pavab'e on tl.e 1 Uh m«i The return from the HokiUka dicc>f i>- 1507 for 124 hours. A meeting of landowners ou the Charlton Creek and representatives of mining comrmnirs carrying on dr-edging operation* in the same locality was held in the Goie Com ilio\i=e on Wednesday to elect a boaid to conduct the construction and maintenance of a tail i;oe m rccoidance with the terms oi the agreement between the lanrlo-.vrc-i--, nv'ng con>panic-=, j and tlie Government. Mr G. CruicWiaiik, Waiden, presided. Af; n r clihcu-Sioii Me -s>-s John A->icler=oi a"J G Fk-tcher v.<.re o!ec!e-d to renrc-cut the 1- ido CT1 ici->. and Mr T. Gieen u'ld T)i IV'Kilu-on to itpresiiit the tin. dec cum 11-l'ie1 Il'ie deed pic Air** -'or the appo mnient n a lfp'efo.ilitp'e of ih* Ho f'-mTi'. but i o .ti Ipoiniinent lias as yet been lTiat'e. A Hokiiika tcleer?m <-U'c* t 1 ■( t1!"t 1 !" Rr -s United G.M Comi">R"v'< (v.( v . ni m, ; i ut'ai'uni was sold by auction for £I7si' A s'hareho'd'-r at a :"i«.iw inp"{ ng o-. Fi i (iv.y movc-d a lectuct on of the di r ec'ors' for* Tlie compn'iy's solicitor rnnd v hilc-;'".! tint as nothing had been voted to the dij^'nrs, t'^h might be a ense of trying to cut den thr irreducible rrncimum. The erectio'i of the machinr-iy on tbc Oaii baldi drecLre is comnleted. with th« exccptiou

of the tabes, which are well in hand. The dredgemaster (Mr M'Donald) has gone round to the dredge, and it is expected that everything will be ready for him to take the machine over very shortK. Arrangements have been made for a supply of coal, to be delivered at the dredge. The secietary of the Chicago Dredsring Company lepoits that the d.cage is undergoing repairs. The secretary reports that the Staffoid Waimea dredge will picuably stait woik tomorrow . T : ie secr p +aiy o ; the Moh neux Kohmoor Corrany i-oportb that the diedge returned work i»t 2 o'clock on Friday afterroou. Thciv was re wash-up from tie Charlton Creek dredge last week, as woTk was only resumed ai 5 o'clock on Tuesday aftsruoon The diedgema^tcr of the Rise and yhine Compan\'& dredge, which lesumcd work o.i Wednesday afternoon, advised the secretaiy on SaU'rclsu that he would not Wiish-up for .i wck, and thut the machmciv nas lUiimng wp!! Tile Pnnce A!b°rt drerlrro h.'s been stopnCvl for rc».:Mii '■iikc Tve c ciri\. Pt'i, aiid consequently theie w<"s ro wash-up la-t week There w. i! < no wash-up la=t week from the Happy Va.lev dredge owing to some oi ttie ti.be-i cf the boiler giving cut , nor fioii; the Central Chaiiton dri-dpc ovn g to the snipping 01 the heNCi-pinio-M. .Both dredges were to re sunic work on Monda\. The secretary o! the Caliaghan's Cr°ek Dreclgin? Company advices the Dunedm Stock Escha^gc that there was no wash-up last week. The (tredgre resumed work on Wednesaay Ths -,h\it of the top tumbler which was sent down ficm the Inchdalc drocige for repair was found to be fiactnred, and a new one \>f.s thriefcre required. This has CTiiscd o little extra cieiay, Lvt all is expected to be completed by Mon'i^v, and the dredge will probabiy be at ucrk again during the week. The secret-aj v oi the Ri'e-y's Beach Company lepoits tha* ihr dredgemaster v. .red on Friday to jay ih;it lie had 1 ottcmccl on Wednesdtu nt 45ft, but as the duft was l>aci he v.ould not wash-up till Friday, 18th mst On Satuidav morning he sent a further w:ie to =ay that he had palled ahead one dredge lencjth o.i Friday, and struck good wash duri'ig the morning shirt carrying fairly coarse gold. Ihe dredgemaster of the Uold Depo-it Comiuny's dredge (Mi Mathcw Harlewick) repoits that the nvei has fallen .Tit sirce lh=t Saturday, and is s'lil going down steadily, and is in every. way suuab'e for dredging. This company i-, waiting for the irspoiise fiom sliareho.'deis as to wli'thcr they are going to pay up the Is p«r share le^ \ or no. The drodgemastT of the Ceutral Matauia Xo 2 dredge lepor'.ed on the 11th inst. that he got o.u to very wash towards the end of the week, ai.d it is looking very well at pie=cvt. He has about 150 yards to go before he get? to the pace wii°ie the joiospectmg dredge was wo; king The face s about 150 yards wide, and the depth oi the giound is from 10ft to lGft. The dredgema<:t o i oi" the Rankleburn Amalgamated Companies' chedge (Mi I\ie Templeton) reported on thp 11th mst that the coal supply lan out on Tuesday mo'iiin?, and as the steamer had not arrived he was putting on all hands to cut firewood, when he received instructions to shift the dredge up to Ihe Oreut Beach claim. The steamer amved on the rnorring of the 11th, when everything was leacly for her. but she could not tow the dredge up She is, lioweicr. running l)>e linos for tho dicdgemastci. and he expected to get on to the clpim on Monday. He ha= not vi'<-!ied up for the last three day?, but will do so when he is settled on the new claim. The dredgemaster of the Gabriel dredge reports that he stopped work oil Tue=day, Bth, in oider to bush the bottom tumbler and to put sn a lot of new links and pm=. He wired on Saturday that he resumed dredging on Thursday night, everything being m good «orkmg order. The dredge is now working right into the creek, where good returns wre obtained previously. There was no \\a%h-up 'ast week owing to the stoppage. The engmeei of the Cioniwell d l- edpe (Mr Williams), who armed in DuncJin on Friday night, ad\ices the secretary of the < omi>*i:t.\ that he does not consider that the dredge is in an> way damaged, and he is confident thaf with a sand pump the ladder will be cleared and vised sufelv. A pump has l>ce:i oh tJinecl, and it is now in the hands; of Mcfora A. a/id T. Buit, who are making some rieces c aiy aiteiations and rrpans, and adding tome piping. This work will be completed veiy shoitly, and Mr Wihams will take the pump up 1o the dredgo by special conveyance Mr Williams also reports that Mr K'oogh (the d:cdgema a tei) i 1 - lecovering fiom his accident, and will be ?b!e to auiiei\ise the woik of clearing the ladder. As the hna.ieial diffn u'ty of the Britai"na Gold Dredging Compan> has not i o fai Ik m sati-iai lorii\ solved, the diipdou have dci idi rl to cill «n cxtiaoiclmai _, pci:":^! 111cci1.11; til 'harcholdrr- to consider the qne-tion oi voliu - taiv liquiddtion. It is evidently mterded, however, to make an attempt to rcconstiuct the company. The directors, in a cncular issued to sharcholdeis, state that they forbear laying out a scheme of reronsi ruction until the shareholders hr.ye con^idcied the question, but their idea is that a new company should be formed to buy the assets of the i>iesent company at a price fcufficn nt to pay its debts and to provide capital ior lumuug the dredge to thoroughly test the c!«im The amount inquired i= £225 | > The shares in the proposed new company are to be offered m the lir=t instance to the shaioho'deis in the p'esiiit rempany, but n they do not take them up the outside public may be allowed to come in. Should th» scheme foi reconstruction prjve Micee-,-fui the diedge will be enabled to te c t the clainn, wliuh h.is not bfm tested at all yet The dr"il{;ema-ttr who w u s appointed ad">i-oh that iif 1 as ko c'i.u'jl w to the value of tho propel 1v Ml W. Patton, nianagor c,' the Indian Giei. io^k (W^naad) Coiujjiny (L.mv' ti), Macctown r< ports thpt this con' Win c lo^ii'tl li|j fen tlimeiith of March and obtained 11 jO^; Idv.t Tgi fioin ]70 toiia cru-hc-d He 11 now eu^a^ed i>i opening up .stoping {:: n cip d, l>ut i'o 1 * progrp°is innde cwn.g to the extremely h.iid n«tui r oi the ccuntiv TiK l'ef iu'i« ncn 2 f t to Jft in .-ld'h, ai d althou^l' ici * r niiillu' k> m phucs. is go'd-beain'g Mr .) . II Da\ s. mahagpr <•[ the Shotc\er Quail-/ Mm ng Company rcjcTt- 1 that Ihf> la^t letmi' f.oni the mine va 1 - -Vlov c' retorted gold fie in IHi ton-. (Mushed Tins is the la-t cruf-hinp that will be put through Iv the old battery. a= npi ation 1 - will be <-ton>>c>'l ll i, til the new balteiv. wliuli will ha\f 10 fa'amp'-i he. d= , i- ircrt r d Hit v ork or get' 1 V. int '■tore will, oi ttnrie, st'll go on M r Da\is -.iv.^ th.-t ho w'll be able to t-o.i 1 wth fi,t or <-i\ time- 1 - the am' unt '>l =tufl t',.it tho 'Id batteiv did, aid i th' sum Ici t.-;n of timr -Lake Wakatip Mai) An Auckland teleg'.aiii tn.it to Ciown lliirn - i. turn t'ir M.tu'i 'ioiu J4ts lont v.a1 ullion \ali.c-d >it i."j'JJj Tlk Hftlcv a- cl K:i'v C'.nipan- 's dredge st.iitcd dicdgiiiq on Mfnid.ty morning. The d'en^enja«'r-i oi the ('.c'cltii Ri\n d.edge ad\i-Od thai he lc -.Hired dredji"g at 3 o'clock on Mcnti^y nKii"n^. Applieatiu'i-- arc nnit'd for V.)o pr,-il on of ci sino:i on the Da i-'i Bend clredgi r lh3 ec-iv turio'ior for tho Golden Bed dredge 1,-is annul at Lawrence, mid will bo put in position a= -'.in as possible The dredge wa~ <.:nccte-d to ji-vnu- work on Tuesday night. lucre v,.3 l o wash-up from ih" Gentle Annie dicdise last week. Tiie dredac is eiuSt-

ing higher up the river, towards the Meg and Annie boundary. The Clyde Company's dredgemaster reports that there are now lo men employed on the new dredge, and he expects her to be finished and ready for work by the first week in May. Arrangements have bsen ma.de for the Morning Star dredge, which is now m the hauds of a syndicate, to work the Manorburn Company's claim on tribute. The dredge is now working towards the clmm, winch she is expected to reach bliortiy. The directors of the Manorburn Company have disposed of the old dredge to the Oceanic Company. At the beginning of their last financial year the Oceanic Steaai Gold Dredging Company had a debit balance of ,£-142 Is 3d, while at the close (February '28) it had increased to £2432 19s 9d, though tins position is chiefly accounted for by the tact that the company pa:d Messrs Moiean and Cable £1500 to cancel the contract for the dredge at C^rdrona. The cost of p:o6>pecting the new chrni was -£172 Is Gd, while the vendors received ±'100 ior lchnquishmg 2000 shares against the old ctairn. The uirrar-. on call-,, wh.-n tli^ books were closed, amounted to Ss'67 Is 0-1, and there are sundry ci editor- to the extent of £16 5s There are 50!) fulK -paid-up shares held in trust for the company, and the cash in hand is £30 5s Sd. Ihe \alue of the gold wen by the Golden Treasure dredge during the six months ended January 31 last exceeded the expenses for the same per.ocl by £328 i7s, which, considering the smil! capital, niu-t be considered veiy satisfactory. A half-yearly balance s'.iect issued by the Etirick Gold Sto,"m Dredging Company for the period ended February 23 shows that the actual working expenses exceeded the value of tiu gold returns by £22 lls Id. The gold won represented the sum ot £6&3 (is Od, a;id the company received £3 Ss Id in levenue from sundry receipts, so that the debit balance with which to commence the new term was £1U76 lls jc'. The wcik of prosnecting the Goldci 1 Vein Company's claim with the Kai-Ora dredge has baer proceeding for the last month, but up to Sdtmoay. April 5, tha date of the last report from the dredgemaster, the results had not been veiy satisfac toiy, though he expected to be in r position to know shortly whether the propci ly was worj.h dredging or not. In his lepoit on the abo\ e-mentioned date he stated that he staited on April 1, two or three chains sbo\e the old Wakatipu paddock, and on the following Thursday the top dirt got rougher, and he got on to lose wash canying very fine gold, lie woiked practically to the boundary the) a, but- the prospects were not satisfactory, ■-o he wr.s opening out again mere to the rivei. On tlie sth the bottom began lo rise slightly rsain, as he worked out tcw.uds the river. The probpects were a httb more satisfactory here. His intention was to open out towards th" river in the hopes that the prospects would lr.ipiovo. The tables were vorkmg very well, and the dredge v/t>s working steadi'y. An Auckland telegram states that for the foui-weekly period ended April 2. the Kauri Fieeho'.d Gold Estates Company's ciushing g?\e a return valued at £2222. A Greymouii'i telegram states that Mr Daiziel, who h«s been appointed drc-dgemaster of I he Trafalgar dredge, will gave the Caledonia claim a trial while awaiting the completion of the Trafa'gar diedge. A Westport telegram says — The Westport Coal Company's output last week wuo 5785 tons 7cwt. Sluicing and crushing opoiations at a numbei oi mines in the district have h"cn suspended owing to the leiigthy spell of fi>io weather, but heavy iain= fell last e\en.ng, nnpicving the condition for the lumeis. The directors of the VV.uniumu Cential Gold Diedging Company have declared a dividend of Is pei share, payable on the IGth irst. Messrs Quick and Sivth rotify th»t there aie p*i\l 300 shares to be had in the Grand Junction Gold Dredgirg Compain, and that e\ erv two contributing shares allotted will carry ore r ully paid up shaie.