MEG AND ANNIE GOLD DREDGING COMPANY.

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

MEG AND ANNIE GOLD DREDGING COMPANY.

The directors of the Meg and Annie G.D. Company will submit the following report to shareholders at the fourth annual general meeting — " Your directors, in submitting their annual

leport lor the- year ended 31st May, have pleasure in drawing attention to the accompanying balance sheet, which shows that 7s per share have been paid in dividends during the year, making 133 per share to date. The dredge, which is in good working order, recently underwent an extensive overhaul, apcl has just been removed to the top end of the original claim, setting in to work on the ground formerly held as a special claim, some 16 chains dn length. There is a considerable area of ground from the bottom boundary up stream Jet to work. The retiring director is Mr Adam Aitken, who, being eligible, offers himself for re-election. The audi+or (Mr A. M'Lean) also retires, ar:d offers himself for re-election." The balance sheet reveals a most satisfactory financial position. At the beginning of the year there was a credit balance of £650 18s 4d to profit and loss, and the dredge won gold to the value of £6770 16s lid, in addition to which £500 was received as premium on the sale of 500 shares. The working expenses reached an aggregate of £3443 IKs lid, the sum of £2625 was paid in dividends, and £J3ll 18s 3d was written off the dredge, leaving a credit balance of £540 18s id at the close of the year. The company has sundry creditors to the extent of £377 Os 6d, but agpinst this there is a reserve fund of £300, and £617 18s 7d cash in the bank.