LORD NELSON GOLD DREDGING COMPANY.

Otago Witness, Issue 2524, 30 July 1902, Page 25

LORD NELSON GOLD DREDGING COMPANY.

The fo^owi-ng report for the year ended June 30 -will be prc s ei.ted to shareholders in the Lord Nelson G.D. Company at the tccop.d annual genera' meeting — " In presenting to you the second m:nui.l report and balance sheet, your dirccors need only remind the shareholders of the endeavour tc arrange an amalgamation with the Major Robin and Duke of Wellington Companies fcr the i^urpose of having the dredge in course of construction for the Duke of Wellington Compauy to test the three claims. As the shareholders know, this proposal was rejected by this company, and the directors requested^ to await the results of the adjacent dredges beiore gonig on with a dredge to work this company's claim. The shareholders will have the opportunity nt the meeting to express their opinion as to what shall now be do:ie in the interests of the company. Mcssis H. Crubt and A. Crow are the retiring directors, and, being eligible, offer themselves for re-election. Mr M. H. Scott retires as auditor, and offeio himself for re-election.

At the beginning of the year the profit and loss account showed a debit balance of £4GO 15s lQd, mnat whiflh. tjm« £&7 6» lOd ha* b*£n

expended, making a total of £548 4s 8d; but against this £12 18s 4d was received in interest, le-aving a debit balance of £535 6s 4d to be carried forward. The unpaid calls amount to £257 15s, and there are sundry creditors to the extent of £28 13s lOd, while there is £391 12s 6d in the bank.