THE WEEK'S MIXING NEWS

Otago Witness, Issue 2524, 30 July 1902, Page 23

THE WEEK'S MIXING NEWS

The Waikaka United No. 2 dredge is now "working full time, but up to the present has only been making her way out of the dam in •which she was built. It is expected that she •will have a fu.l-sized paddock opened up in about a fortnight, after wh:ch good returns are expected.

Ihe dredgemaster of the Happy Yal'ey d-odge reports that he worked Tight acoss the face last week. The ground consists of about 3ft of clay and some 6fi of gTavel and sa

Mr Sidney C. Fache, who has occupied the position of dredgema.ster on the .North Beach dredge since operations were commenced, has resigned m order to take charge of a diedge in Burraah.

The secretary of the Garibaldi Company has received a wire from the dredgemaster stating that he got the new wheel, but there hara evidently been some rmstpke in the casting, as it Jias had to be relumed to the 'ou^diy. This ■will unfortunately mean a further delay in getting the dredge restarted.

The Sheddan's Freeho'd dredge, wh eh has

been working for a considerable time without any lengthy stopprt6<", has ccig d work for a Sew dayß "to enable tin? machinery to be thoroughly overhau'.cd. There was, therefore, no wash-up last week.

As the second motion sha.'t on the. Truf.dgar dredge is evidently too weak, it ha 3 been decided to repla-ce it with a heavier one, wh.ci is now in course of contraction, and will pro-

"bably bo fitted up in a few dajs. The !ate=t icport from the dredgema-sier states that ths gold is getting coarser, and ha has every hope that payable god will be obtained when the "bottom is reached.

Messrs Mac George Bros.' dredge, which is to work the claim adjoining the Paterson'a Freehold claim- at Waikaka, was expected to be launched last week. Messrs Lee and party's steel dredge, situated «t Waikaka, about a mile below Lilhesleaf, «ud about three miles above Sheddan's Freehold dredge, is finished, and work will probably be commenced this week. The drecgema-ster of the Goiden Glen dredge reported on the 19th inst. that there was no

improvement in the wash during the week,

Some small patches of soft bottom have be-en struck, carrying only a few fine co'ours. At present the dredge is stopped for want of coal, there being only one waggon on supplying

them, and that is not enough to keep thorn

going. The dredgemaster made use of the stoppage to wash up the matb, but, as stated, the wash is poor.

The Three-mile (Greenstone Creek) dredge

has low been supplied with a. iiew screen and a new chute. As the dredge tw-3 on goo'l ■wash when operations were .'v = pe:ided, good returns are looked for. The ground is, however, very rough. The dredgpinasteT of the Mo=quito dredge ■was occupied in giving thr machine an overihaul during four days la^t week, and consequently there was no wash-up. Th-e dredgem&ster of the Itla^d Block dredge reported on Saturday, 19th, that e\ cry' h ing was .'^rorking very satisfactorily, and that the elevator was doing its work well. As he was on the extreme edge of the tuu of gold, he was edging €he dredge to get into the open face, and this he expects to accomplish in about 10 or 12 days. The gold louts well on *h« mats, but weighs light. The dredgemaster , expects to get better returns when the dredge leaches the open face. The tributers, who ihave about 12ft to go before they reach bottom, ■washed up their boxes last week, as they axe putting in their elevatirg plant. The dredgemaster of the Molyneux KohiScor dredge reports that the small return hut

tveek was not due to the poorness of the gronrd, but was cau=ed by the short time worked (9S hours) and the difficulties connected With v.orkii!?. I/i order to kiep the dredce clear of the tailings he had to work further out into th* river than would otlirrw.se have been necessar} 7 . He found the wash on the we3t side of the cut solid, but the prospects were very pcor, the best grcurd b:irg in the centre of the cut. He had plenty cf room for the tailings last week, having raised tho water 2/t. The Ford's Creek dredge, which was stopped recently owing to a broken tumbler, has r.ow resumed work, and the machinery is running splendidly. The dredge has been shifted from her old position to a place of safety, and the dredgemaster is now trying to bottom. He has struck go.d at a- depth of 24ft, or about 6ft or Bft from the bo'tcrm, and all the intervening wash is expeced to prove auriferous. With prox-sr development the claim is expected to give good returns in the future, and the owners have evciy confidence that the property will be a good investment.

Though the Waikika field has not attained prominence like the Central Otago district for sensational returrs, the steady s>nd consistent yields from the dredges there have attracted a, good deal of notice, and have given that portion of the colony a sound reputation as a goldproducing centre. The gold is an excellent sample, and probably commands a higher price than any other. The value of the field having been ascertained, enterprise has not been lacking in its development, and at the present time no less than 17 dredge 9 are at work or on the point of commencing operations.

The dredgemaster of the First Chance dredge v.-ires that ho washed up on the 22rd inst. for a return of 117oz, obtained since Friday last. This is an excellent return for the time worked, and gives promise of a very good result for the week's work. Shareholders who came into the new company will now have an opportunity of retrieving their loss in the company, while those who did not take up the new shares will doubtless be disappointed at the chance they have lost. The financial position of tha company is very satisfactory, and, if all goes well, a dividend will probably be declared very soon. Already tr,?re is fSOO in hai d, received in calls, in addition to which the gold returns up to Saturday last have provided a credit balance of £600. The dredgemaster reported on Saturday that he was working on a soft bottom, which was 3ft shallower than where he was working before shifting down. The drift was, however, very heavy. All the marhirieTy necessary to put the Bendigo dredge into workirg order again has now been despatched to the claim, and portion of it has already arrived at the dredge. A man has set out to put the parts together, and, all going well, the dredge should be ready to start again in aboat a week. Shareholders should, however, bear in mind that if they wish to see the dredge at work again without delay they must lospond, and that immediately, to the directors' lequcst for a levy of Is Gd per share. The response so far has rot been genera], oily about a quarter of the shares being represented in the replies received by the secretary-, a:id as the time expires on the 26th inst shareholders will probably be called upon to consider the question of liquidation if they do not rouse themselves and endea\our to save their property. The results from the First Chauce dredge should be sufficient to inspire them with enough enterprise to consent to the directors' request, and a3 the above-named dredpe is working but a short distance above the boundary of the jßendigo claim there 13 every probability that the run of gold extends into the latter claim.

Our Reofton correspondent telegraphs that the Alpine Extended return is 74ioz retorted gold from 203 tons clean-up. The directors of the Molyneux Hjdrauho Dredging Company have declared a dividend (the ninth) of Is per share. The directors of the Alexandra Eureka Gold BiTdjrini? Comrany have declared a dividend of 6U »cr &hare.

An Auckland telegram states that durmg the six wecko ending July 12, whe*i the final cleanud, prior to closing down the battery, took place, the Waitekauri Gold Mining Company treated Jllß tons for bullion valued at .£2820.

Ihe Alexandra Lead dredge nude another start at midnight on the ±md, all the machinery milling v.cli. Tlip dredgvmasLr of the Voltau dredge wires that he resumed work at noon on the 2.3rd.

The dredgemastpr of the Cromwell dredge wired on the 23rd that he is working hteadi y, and making fair progress He is now getting into the river.

The dredgemaster of the C.o'.d K.ng dredge itl-crts that he has worked to a depth of 34ft, but, has not yet readied bottom. The dredge can, however, work to a depth of 45ft, which is expected to prove sufficient for any part of the claim.

At the adjourned meeting of shareholders in the Gabriel Gold Dredging Company (Limited), held on the 23rd, it wat. rcso.vtd to nccept as a recommendation the strongly exr>rc=scd wish of the shareholders not to fill the vacancy on the directorate, conscqi ently the number of directors for the current year will be three lEstead of four, as previously. The Dunstan Times says that the Old Dunstan dredge is now practically completed, and will probably be taken to her claim tins week. Some trouble was experienced with the ejector, tho one originally made for the diedge having been appropriated by someone* in the neighbourhood, and an old one had to be brought into requisition. The dredgemapter of tho Rise ard Shine dredge reports that he worked 7ft ahead last week, the depth of gTonnd being up to 38ft. The pold was a fine even sample, similar to what has been obtained for several weeks past. The bottom in the greater part of the cut was soft pu^, and the best gold was still between tho centre and the west side, where good prospects can be got. The dredscmaciter. of tho Central Electric expects the ground to get very hea\y ahead of Vihert; the dredge is at present. Th» dredgem a <tcr of the Unity dredge reports thai he expects to run into an old paddock in the cours? of a. week, as a result of which the returns will doubtless be affected for a time.

The directors of the Great Central Dredging Company have decided not to do any dredging until the obstructions in the ri\ er are removed, as there is one barrier just ahead of where the dredge is at present, and thi piece of ground that could be worked ia scarcely worth treating h.y itaelL The dredge is oloaed down in tho

meantime, and the only expense being incurred is that of a carets he-.

The diedgemaster of the New Halfway House dredge reported on Saturday tha* he was working in ths same kind of ground as he was treating previously. Ha stopped on Saturday to shift the headlines, and as he was just o,i the bend of the river he would require to shift them again about the middle of this week. Ho wared on the 23rd that he. had stopped dredging in. order to repair the ..übes in the boiler.

The dredgemaster of the AUinga dredge wired on the 23rd that he had had to stop work in order to slacken the bottom tumbler, but resumed dredging oa Tuesday afternoon, all the machinery running well. A^ soon as the dredge is clear of the dam a stoppage will be made to ei<able some odd work to ba completed and the dredge to be ballasted.

Since the adjournment cE the meeting of the Duke of Wellington Go"d Dredging Company the directors have endeavoured to make arrangements with contractors to erect the machinery large'y on debentures, as they had hoped if this could have been done to have considerabH' reduced tho amount that *he shareholders would require to subscribe, and so have got the dredge started. These negotiations have so far not been successful, and it will remain with the shareholders to decide what shall be done. A notice of a reso'ution in favour of liquidation hr.s been sent to shareholders, who may, however, devise some means for getting the dredge to vork. If satisfactory arrangements are made for cprrylng on the dredge fehotild bs at work m about three months or so.

At a meeting of the directors of the Great Central, Kelly and Casey Beach, Almne Xo. 2, New Alpine Coi sols, and Rilpv's Beach Companies, all of which are affected by the obstiuctions in the Molyneux River, below Cromwell, it was decided to submit proposals to the Government for the removal of these obstructions by blasting. The proposed terms arc that tho companies interested sunplv the labour, boats, and ropes, and that the Government furnish the experts and blasting material. No reply has bee.i received from the Government so far.

The dredgemaster of the Point dOr dredge reports that the working time was very b~oken last week owing to the rough nature of the ground, and the necessity for shifting the line 3 and T/ulling the dredge r.hcad. He worked where he was jpreviously, dredgirg until Wednesday, but as the ground was so rough that a lot of links and pins \\CT3 broken he deemed it advisable to shift. He pulled about a dredge length ahead, ard at the end of ihe week was engaged in openirg out hrwhat is called Chinaman's Beach. Thi3 ha 3 proved better dredtnng ground, but a fe>v more days xnust elapse before an estimate of its value can be formed. There will be a wash up on Friday as usual.

The dredgemaster of the Golden River dredge ri-p oiled on Saturday, 19th, that he had fitted the guiae on the winch, and ran the beaiings up with metal. He found that it wanted bushing all over, but states that he will let it lun vntil tie f-nd of the seasoi. He also lined up the tail cnut,p, effected some small repairs to the buck°t be'f, and pu + a new bolt on the pump. He intended to resum.* wrrk on Wrdnesdav week, but found h.p oould not do =o He shifted half a length ahead on Friday, and intended to start that afternoon, but fou"<3 that the pump was not throwing enough water. The pulley was out of line, and this defect was remedied, but there was still something wrong, and he stated that he would have to take things to peice-3 on Monday A wire was received on the 23rd stating that dredging was resumed at noon oi Tuesday.

About half of the issue of preference tbares in the Moonlight Gold Dredging Company have been applied for, and as the engineer has not submitted tenders for the erection of the machinery to the directors, the;, will not al'ot the shares for a frw days yet These shareholders who have ljot yet lesponJul have sti'l an opportunity of dopijr -o, and by taking up their quota they ire real'y further. ng their mvn interests, as if al! tho shares arc subscibcd for the financial position wi'l u~ sue h t'lpt the claim can be c-xhaustively testc-d, wliprei* if there is only a tmill balai.co when the dr^rl^e gets to work ths eomparv may be forced into liquid.it. on befoie a true e 3 timaie tan be formed of the value of the nrone/ty.

The directors of the Nelson Creek Gold Tlredping Company have declarpd a dividend (the twelfth) of Is per share. In whirling this dividend, the company has paid 18^ during tho past 18 months. The Tapanui Courier heais that thp Grcr-v-\ale dredge will Teceive anotl'er trial she>rtly by a woikivg synd cat. 1 , wLo na.e >-c ured the dredge and flam. Messrs S.eswn^ht Bros a\il Co. will sell, at ti.e>r rooms, o" August 6, the R»\"i Mc'\r.fii\: dicdge anri cl">ini. Mr George Fivigatt will s»U. at Tnv.'-ca-sill, on August 8. the Midas (Jo'd iin.ing Company's s!u:ci r ig .-laim Particulars of claims asaii't'. the Lr-nvni 1 " Rock Gold Dredging Comnanv (Limited) must bs in the hands of the liquidator (Mr R. A MathewKO i) o'i or before thj 23rd pro.:.

A!! claims against the River Molvrnix Gold Dredging Company must be forwi.rdcd to the liquidator John B. Brugh; before September 1.

The Lraiiina Hoik dredge and c'aim ,= advertised for sale by tender Tender'! uill be received ur> to the- Bth prox The dredgemaster of the New Alpine Con = els diedge reported on the 19th mst. that ov Monday week the ground m the aeepe=t part of the cut in th 2 middle of ihp rr-rr was very soft, but since the following day it had been g7?dual!y getting harder, narrower, ard deeper, until on Saturday morning the soft bottom gr. .•<> cut., and he struck a haid reef r-.pht across the cut, which was about 12ft wide in the deepe&t part. It was possible to gpt three or four inches into ihe bottom in the deepest part, but the giound on either side was much harder, and consequently more severe on the bucket hp«. The 'grodiid' got a little deeper a!' the week, and if the river hrd not fallen 6in ;t would have taken the dredge all her time to bottom, the depth being 39ft. He lifted the mats on Monday week, and from the indications expected" to get lOOoz, but on Wednesday the mats were not looking nearly so well aB he expected, the gTound being, however, poor then. The wash was rather patchy, but he was if opinion that the hard bar wouid not last long, and he expected to sinks soft bottom at any time. The dredge was getting close up to

where he expected the lead to open cut, and he looks forward to getting good returns fiom this part if he is able to bottom. The mats looked very fair on Saturday, considering the .nature of the bottom, nr>d the dred^ernaster -estimated that he had 15oz for 35 hours' dredging since he wasc-d up on Friday morning. He stated that if the ground continued deep this week he would be unable to bottom unless the liver favoured him ag°.in. The ground being so good oi Monday week he commenced pulling ahead 2ft at a time instead of 3ft as previously, so that though more dredging time had been put in the dredge had not gone so far ahead. A v wne was received on the 23rd inst. stating that the dredge was working o,i a soft pug bottom, and wash had been struck showing good prospects. The width of the cut is 40ft and the depth of the ground 39ft.

Mr A. C. PeTkins has been appointed engineer ori the Dunstan Lead dredge.

The Thames Advertiser says that mining has received a great set-back at Wa.tekauri, due to the closing down of the parent company. The outlook in that district is a gloomy one.

The Golden Glen dredge has been closed dem'n for the present, pending the meeting of shareholders next week, when the future of the company will be decided upon.

Mr Steel, dredgemaster of the Gibbston dredge, is at present making arrangements for securing a crew, and expects to start dredging early next week.

The dredgemaster of the Central Electric dredge wires that he resumed work on Wednesday night, all the machinery running well.

The Cromwell Argus states that Mr "Win. Kitto has been appointed dredgemaster of the Golden Bay dredge, Nelson. He is a man oi great experience in dredging matters, and the company has secured a. first-clas9 man.

The dredgeinaster of the Ld«y Charlton dredge reported under date July 22 that he has had a little trouble fitting the new tumbler, but it is all right now, and he started dredging that day. He is working 12-hour shifts, and will get to the shaft as soon as he possibly can.

The secretary of the Golden United Gold Dredging Company reports that the company ha 3 purchased the pontoons, machinery, engine, pump, ropes, and boats belonging to the Golden Horseshoe Company. Tenders are now being called for the removal of the property to the Golden United Company's claim, and no time will be lost in getting the dredge to work. As the funds of the Excelsior Go.d Dredging Company are not in a position to enrb'e work to be carried on any longer, a meeting of shaieholders has been called for the purpose of considering the advisability of voluntary liquidation. The bottom- half of the claim has been tested, with rather disappointing results, but the top portion has, owing to lack of funds, not been tried at all.

The Gibbston correspondent of the Cromwell Argus says. — "Mr Spain and his energetic staff are beginning to- get the Merrima-c to pieces, ready tc go farther down the river. They have got the ladder and buckets all ready to load, and it is to be hoped that she will make a name for herself when she starts work again." We learn on good authority that th? directors of the New Alpine Consols Dredging Company contemplate declaring » d vidend of Is per share next wesk in the event of the dred«re securing a return of 450z or 50oz this week. They are also contemplating the advisability of lengthening the ladder of the dredge without delay, but this will probably depend on the result of the trial of the extended ladder of the Alpine No. 2 dredge this week. The ladder will, it is expectad, be lengthened by some 10ft or 12ft, so that work can be carr.ed on when the river is a good deal higher than at present.

The provisional directors of the Britannia Gold Dredging Company have called a meeting of sharoholders for next week, for the purpose of electing directors and a secretary, and in the meantime are pushing on all the preliminary details, such as registration, etc., in order that the dredge may bs got to work without any unnecessary de'ay. They expect to have everything completed by the time the. shareholders meet, so that operations should bs started very soon.

Up to the present 57 shareholders in th" 1 Bend'g-o Gold Dredging Comn.'ny, ho'ding ebout 3800 "hares, have responded favourably to the directors' request to consent to a levy of Is Cd pi r "-harp, but f the remainder do rot nsoovd w ih-n t'u- next few d.cjs the directors will be comKf!'«l io corjidcr the question of liquidation. If this course is rendered necessary an endeavour will probably be made to lecor-srruot, but this will necessitate ni>dirg a capital of at least £2000 or £"?000, whereas by a subscription of Is Gd per si. are the finances ccu'd be put on a pati»facloiy fooiiiig.

An pxtraordmaiy g»i;eri>l m« i p'ini» of shareholders in the Kia-Ora Cold Dridg n«,' Comoany lia n been convened for next week io order that the present position and the future moceed'ngs of the company m?y b? diTussed The dredge vas working on h<-r own clmm for 'omc little time, but the results were not very encouraging, and latterly she has been engaged in tcstirg the t 'aims of the Go'd'n Vein and Horseshoe B<»nd Companies. Hie drrdpe is tit present moored on the latter conipanv's claim.

The engineer to the Lower Enfield company, i\ko returned from a. visit to the claim a few d&}s i«o:o, reports that the machinery does not run satisfactorily with the pelton wheel, although thc-rf is a sufficiency of water power. The contractor foi the flection oi the machinery paid a \ i sit to Dunedin and had a confeience wilh the engineer and the direetcrs. the result of wlikli was that the contractor, at h's own request, is be, rig allowed to put v :.ew sef of cups on the uelton wheel and also make a few minor aiterat.ons. He expects to got th«> necessary material by the beginning of nc-xt week, and as the fitting up will not take long the dredge should be ready foT work by the end of the week. Mr YV. E. Potts, of "VVaipori, has been appointed to the position of dredgemaster. The Rankleburn Amalgamated Companies' dredge, which has been prospeetirg the Lioness and Great Beach claims, is offered for sale. Full particulars will be found m our advertising columns.

Mr David A. Jolly, Cromwell, advertises for sale a winch engine and ai«o a coi! of steel wire rcpe.

Tenders are invited for the removal of dredge pot toons from the West Coast to Waikaia. The prospectus of the New River Molyneux Gold Dredging Company has been issued, and already promises have been received to take up some 1100 contributing shares. The capital has been fixed at £6000 in £1 share*, of which 4000

are to be treated as fully paid, leaving onty 2000 to be subscribed. For every contributing share taken up holders will be entitled to tico fully-paid shares, and the provisional directors: may proceed to allotment when 1500 contributing shares are. applied for. The capital of the new company will prove sufficient to discharges all liabilities and leave a good balance to exploit the claim. Applications close on Augusi 4, so that shareholders must reply promptly it they wish to conserve their own interests.

Tenders are invited for the taking down, and removal of pontoons from the Golden Horseshoe Company's claim, on the Molyneux, and erection of same on the Golden United Company's West Coast claim. All claims against the Leaning Rock Gold Di edging Company should be forwarded to the liotudator (Mr R A. Mathewson) bsfore August 23^

Messrs Sievwright and Co. will sell at their rooms on August 6 the Orwell Creek dredge and claim.

Creditors of the Golden Vein Gold Dredging Company should forward particulars of their claims, etc.. to the liquidator (Mr J. A. Hopcraft) on or before August 30.

The directors of tho Electric ar.d Junction' Electric G.D. Companie.9 met on Friday for the purpose of appointing a secretary in succession to the late Mr Thomas Callender. There were a very large number of applicants, and Mr R. T. Wheeler, jun., was chosen to fill the position. Each company carries a salary of £100 per annum.

The dredgemaster of the North BeacJi dredge (Mr Sidney C. Fache) reported on July 20 that last week's run of 133 hours was froni the hill side of the cut, and the return showecj an improvement. The machinery was working well, and was in good order. This week's return was from both sides of the cut, half the week on hili side and the remainder of the week on sea side, so that this should givei an idea of what the ground is worth. Ha fully expected an improvement, as the face looked very promising, and felt confident in predicting a substantial improvement in the returns before long. A wire was received yest«rday stating that thp return was 40oi; Sdwt for 133 hours' dredging. The secretary of the New Roxburgh Jubilea Dredging Company reports receipt of advice from the dredgemaster that the first week' 9 operations chiefly consisted of opening out/ He washed up for a result of Soz 6dwt ISgr for tho week. He is shifting the dredge ahead*

The dredgemaster of the First Chance dredge reported on the 23rd mst. that the mata looked very popr that morning, but he thought he would soon get on the gold again. If the gTOtind got much poorer, however, he stated that he would drop back to the bottom of the claim, in order to take full advantage of tho low river. A wire was received on Friday afternoon stating that the return was 171oz for 146 hours' dredging. The dredgemaster of tha Leviathan dredge wires that the repairs are completed, and he resumed drodgir-g on Friday. Tho secretary of the L.adv Roxburgh Gold Dredging Company is in receipt of a wire frorr tho dredgemaster stating ttiat he is still opening out, and that the machinery is running well The dredgemaster of the Golden Eiver dredg< wired as follows on Friday — "No prospects; no wash-up.' The dregemaster of the Upper Magnetio Company reports that throughout last week th« proapects were poor. He was dredging at a depth of 50ft, and the machinery was running splendidly. He wired on Friday that he had a slight breakdown on Thursday, and thcio will be no wash-up thi3 week. The dredgemaster of the Aldinga dredge wir?s that he hr.s succeeded in opening out sufficiently to avoid any danger from floods. Ho states that he will reach tho company's own, ground in seven d-ays. In hi 3 last report he stated that the gear was Teally first-class, pj:d he anticipates a steady run, with but few breakages. The dredgemaster of the Trafalgar dredge Teporta that dredging is stopped pending the putting in of a new second-motion shaft and a new crown pinion. In the meantime the hands have been " knocked off." When dredging was suspended they were working at a depth of 33f0 without having bottomed. The dredgemaster i<» confident that aa soon as the machinery ia fixed up the ground will prove payable, as the go.d is becoming rougher. The dredgemaster of the Erickson's Reward dredge reports that last week the dredge wan working in the south corner of the paddock and; had a good face to work on. The poM is making better towards tho high reef. There is some difficulty in opening up owing to the small amount of water comintj into the paddock, caused by the frosts of the !ast three weeks. The new boiler has been cleaned out after a three-weeks' run, and is in excellent conditior, there being no sediment inside. The firewood is not giving satisfaction, being unsuitable for steaming purposes. A balance sheet has been issued by the Upper "vVfiipori Alluvial Gold Dredging Company for the half-year ended June 30, a perusal of which shows that the company has made steady headway. On December 31. 190), the profit and loss account showed a credit balance of £419 2s, and since that time gold has been won to thp valueof £2203 19s. The expenditure during the six: morths amounted to £ 1602 Is 7d, in addition to u'-nch £430 was distributed in dividends, and £i&& 19s 5d Iras been carried forward to urofife and loss. The nominal capital is only X'4ooo, of ■A.ncii dEIOoO has been uncalled. The cpmprny is free from liability, and there is £169 0s 8d in the bank. ifessrs Knewstubb Bros, .ire pushipg on tho woi-k of erecting the machinery on the Golden Cham Company's n^w claim (formerly owned) l,y tho Goldfn Standard Company). Nearly all the machinery is now in position, and a few we>=ks should see the dredge ready for work. The claim, whiuh was worked in the early daya by a current-wheel dr°dfre, is reported to be a. gi.o'l one, ard as the dredge is a powerful machine she "bould do full mslice to it. Ur,ike the dredges on the Molyneux- Elver, tho Golden Chain dreck'e <-hould b« able to work mi ntorruptedly in both summer 2nd winter. Now that operations are »o far advanced it only remains f or shareholders to pay up their arrears and enable work to be started under the most favourable conditions po<=sib:P. If this is dopo the finjncps will be put ir a sound position, and shareholcle'V own interests will be couj,&rved to the fullfst '•xlrJ't At tlie meeting of the C!yd« Compary's dive tors, held ci Friday afternoon, a dividend ol 3s ,>'er bhaJt "ft.!- de. la^ed, payab't next Tuesday. The sum of £-20) v.<i= a< 7 dcd to the lesei.-e fund, whuli now stn"t"ls at i^o.

A \YMlintjfon lei 'gram states tha 1 th» Paparoa S'.vicirg ('ompai.y washed up 25Goz. A Masterton telegram save — " J. Hcs-ey, promoter oi the Mytery Flat Gold Mining Company, was present-xl with a handsome gold watch, suitably engraved, by Masterton shareholders, as .=howing the confidence the public have in Mr Hessey. A new company bearing his nti me has heeii formed Th» £3000 of tr>« capital was subscribed :n 24 hours in Masterton alone." All claims, etc., against the Eclip?e Gold Dredging Company should b; forwarded to the liquidator (Mr Alexander M'Lcan) on or before August 30. Mr David Larnatb lins received ths» following telegTam from the dTedgemaster of \he C~c" - well dredge — "Got dredge into n\er, ••'. ' opening out." The New Vincent d:cd.->e wo:ked 40 lie i> * only last week owing to the screen :'{jain breaking down, the i.ctuia fur that time bdiia

£3oz, with good prospects. The dredge is now being dismantled preparatory to the a» rival of the new screen, which should reach the- claim in a few days.

The secretary of the Lady Charlton Company reports having received a telegram from the dredgemaster stating that one of the cheeks of the new top tumbler has broken in two pieces. The dredgemaster of the Three-mile (Greenstone Creek) dredge reports that there was no Wash-up last week.

The alterations to the Alpine Xo. 9 dredge have been completed, and the dredgemaster .reports that he resumed work on Saturday oaorning. Mr J. Gilroy, who has been employed on the (North Beach diedge since work was commenced, has been .appointed dredgemaster in ■uccesaion to Mr Sidney Fache. f The dredgemaster of the Gibbston dredge reports that he has got his crew together, /and tarill commence work as Boon as the boats arrive. .The boats left Dunedin on Friday, and are expected to reach the claim early this week. f 1 The dredgemaster of the Mokoia dredge wired bn Saturday stating that the elevator tray parted on Thursday night and carried away some of the wheel. He expected to be able to start on Sunday night. , The secretary of the Stafford Waimea Gold Dredging Company informs us that the statement made by our Gifyinouth,corre. a pondent m our issue of the 23rd inst. to the effect that the dredge was unable to bottom is incorrect, as the dredgemaster advises that he la getting bottom at 18ft right across the cut. •" The dredgemaster of the First Chance dredge wired on Saturday that he would not shift the dredge in the meantime, as the weather wa3 threatening, and there was a possibility of a rise in the river. ' Applications far shares in the New Vincent Extended Company are coming in steadily, and '£t is hoped 1 that by the end of the month, prhen the list closes, the required number will have been taken up. Those shareholders who Wish to retain their interest in the company should therefore send in their applications without delay. The New Elcc'nc Extended Company's dredge and claim were submitted to auction by Messrs iSievwrigbt Bros, and Co. at their rooms on Bfttnrday, when there was a large attendance of tho3e interested in diedgu'g. Bidding started at £500, ar.d rapidly advanced to £1130, at which figure the property was passed in, as ■the reserve was £1500. The dredge is now for ea!e privately at the reserve uifi.tioned. The Tuapeka Times states that v.o less than 40oz of gold weie obtained by Mr J. H. Jack=on 3rom the crevices of a number of boxes which piad been in use for eight or nine years in the (Consolidated Company's claim. Blue Spur. The sides were taken off the boxes and the whole ■craped and washed, tbe bottoms being sound '■enough to be p\it into a nesv Una of boxes, now ■ bout completed. A Greymouth message states that the Stafford (Waimea dredge during eight months has (treated about two and a-half acres of ground, getting 3130z lOdwt ol gold. The actual time ■worked was 17 weeks. The loss of time was owing to the bottom wash being cementeel ifcightly. The dredge is now 30 yards from where a prospecting shaft put down gave 16gr to the cubic yard. When the Dunback Company was forced into liquidation through financial difficulties a number of shareholders decided, with a determination worthy of success, to find sufficient money to give the claim a further test, as they were not" convinced that the claim was unpayable. The hopes entertained by them, however, when they subscribed the money have, unfortunately, not been realised, and further working proves fchat tho claim is patchy, and not likely to be -oayable. The funds, too, have become exfatiisted, and at a meeting of the trustees for shose who subscribed the extra money it was decided to close the dredge duwn, which has taow been done by the dredgemaster. The machine will probably pass into the hands of -the mortgagee. A Westport telegram states that the Westport •Coal Company's outpvt for the past week was 31,640 tons 16cwt. The Gramty mine put out 13,221 tons 9cwt for the fortnight — a record. The Brunner Company lust week shipped Irom Greymouth 2146 tons coal and 32 tons coke, while the Blackball Company shipped 1317 tons coal.

Tenders are invitod for the removal and reeraction of tho Golden Liuk dredge on the Karamea Company's claim neac Colhngwood. - Particulars of all claims against the Gunion's Beach Amalgamated G.D. Company should bs forwarded to Mr *?. T. Miranis, liquidator, on or before August l'J. The secretary of the NeUou Creek Gold TOredging Company reports a return of 5907. ior 79 hours' dredging. The dredge was stopped in the early part of last week to enable repairs to be effected to the screen.

The secretary of the Enheld Gold Dredging Company reports a return of 220z lOdwt 12gr :Tor 133 hours' woik. The dredgemaster state? that the dredge is working well, but the giound is getting very hard. The dredgemaster of the Garibaldi dredge wires that he received the new spur-wheel from ■aie foundry and had it fitted on, but 011 Saturday morning both elevator tumblers broke. He uas altered the elevator, snd will have two new •jumblera fitted on at once, and get started again immediately. The dredgemaster of the Voltaic di-'dge wived on Saturday that operations had been suspended again as it was found necessary, ownia; :.o: .o the very low river, to blast more lock away (n order to enable the dredge to get ahetid. Another wire was received on Monduy stating that work had been resumed, and that the prospects were good. The liquidator of tho Golden Banner Company (Mr R. A Mathewson) received a viro on Monday from one of tho directors of the Pride of Marloorough Compuiiy, stating that the dredge ha-d started work, and that the machinery was running well. Shrreholder-s in Ihe Golden Banner Coiup'iny still have an interest in the Pr.de of Marlborough Company, as according to the terms of the agreement the former company received 1500 shares besides cash when they sold the dredge to the latter company. The results from the dredge are uwaited with a good deal of interest, as the value of the field iv which she is working is practically untried as yet so fir as dredging is concerned. The dTedgemaster of the Success Gold Dredging Company ads-ises the secretary that he was ci gaged till Saturday repairing the winch pear, which gave"Vay on Wednesday last. On resuming dredging on Monday the gear a^ain collapsed, so he will be stopped for a few days repairing it. The last of the machinery necessary for the repairs to the Bendigo dredge arrived at Alexandra on Thuradav. and was -»ent down to the claim on Friday. The dredge will probab'y be ready <for work again in a few dsys, but unfortunately operations cannot be resumed until Hie finances 01 the company are put on a satisfactory footing. In this connection it may be yemted out to those shareholders who have iiot subscribed to the le\y icqucsted by the directors *h.at unless th c y do so, a>.d that withi nt <la!ay, the compa-iy will assuredly Ije forced rate liquidation, the result of whuh will be that even if the company .s reconstructed they wiil have to incur further expense if they wish to retain their interest in the concern. ]f it is found necessary to lecotis-.rti^t there will be * considerable delay, a-, the dr.d^e will not be able to make another start until the .-ucces.-ful -: flotation of the new company is assured, and coi'sequently the season will be very much cur- ■ tailed. Sonit fit )ba *a»ll shareholder* asseu

to be of opinion that the position will not be affected to any material extent if they do not subscribe their proportion of the levy, but when a number of them fc-.ka up this attitude it is not difficult to recognise that there will be a considerable shortage of the sum lequired to save the company.

The operations of the Teviot dredge on the Roxburgh Lead claim have been attended, with such a large measure of success that the greater portion of the liabilities with which the company was hampered six mouths ago ha\e been, wiped off, and if the returns keep up ior a few weeks longer there is every likelihood that the company will be free from debt and in a fair way to declare a dividend. A balance sheet has just been issued for the half-year ended July 14, from which shareholders will see for themselves the gieat strides made. On January 10 there was an overdraft of £539 Is Id a-t the bank, but this has been wiped off, and in addition to meeting current expenses the half-year's work shows a credit balance of £102 3s. The dredge won gold to the value of JE229 9s 4d on the company's own claim, while the yield from the Roxburgh Lead c'aim \\ as worth £1878 Us lid, of which the holders o c '.he latter claim received £393 63 lid. The s. vi of £17 10s was received in calls dining i''o period under review. The nominal ca,pit?l :s £9750, but 250 shares, on which £17 10s hss been paid, ha\e been forf-ited When the books were closed the arreais stood at the figure of £42 10=, and at that time there was a total liability of £'1054 6s Id, against the hank balar.ee of £102 3s. The last two rrtuiMs, however, have reduced the deficiency to about £500, which at the present rate of pr^ress shcu'.d be dischaiged within the next month.