WAIORA GOLD DREDGING COMPANY.

Otago Witness, Issue 2520, 2 July 1902, Page 36

WAIORA GOLD DREDGING COMPANY.

The following leport, for the year ended March 31, has been issued by the directors of the Waiora Gold Dredging Company.— " In accordance with the desire of shareholders generally, the directors have been using every endeavour to liquidate the affaiTS of the cempany, and now beg to report that they have at last "succeeded in finding a buyer for the irschmery as it lies in the works in Melbourne. Terms have had to be given, and it will be thiee or four months before the whole will be paid for. The boiler and wire rope in Dunedm have alto been sold, and there remains in hand th? engine, which will be sold as soon a-, possible. A contract was entered into for building pontoons, and the contractor forwarded to the claim timber and other materials, but the construction was not proceeded with. The matter of a Esttlenient for non-completion of contract has been undpr discussion for some time, but your directors have not yet been able to come to any saiisfp.ctory arrangement with the contractors. They hope, however, to have the matter settled socn."

At the commencement of the financial year the profit and loss account showed a debit balance of £462 4s id, and the expenditure during the 12 months brought that cum up to £1934 15s Id. There wa-* a loss of £1367 3s lid on the sale of the machinery, but otherwise tli? expenses were very ligh r . At the time of closing the books the arrears of calls amounted to £1846 ss, but £163 IDs has been paid since. There are creditors to the pxter.t of £379 12? Bd, and the contingent liabilities leach an aggregate of £809 5s Id.