SIGNELL'S NO TOWN GOLD DREDGING COMPANY.

Otago Witness, Issue 2561, 6 May 1903, Page 26

SIGNELL'S NO TOWN GOLD DREDGING COMPANY.

The Bignell's Xo Town Gold Dredging Company, the prospects ahead of which were at one time anything but bught, has apparent'y a new ieasc of life, and there is now eveiv likelihood that the claim, which has remained untried since the formation of the company, •some three yeais ago, will be submitted to a test within the next few utosUis. The directors, who have been negotiating for a dredge for some, little time, have purchased the machine owned by the Grey Extended Syndicale, and formerly the property of the Grey Extended Dredging Company. The price paid for the dredge, which is at present lying on the Grey Kiver, near WalUend, is £250 in cash and 1600 [ully paid-up shares. The complete dredge was bought, including all boats, tools, aaid Btores, and the latest advice from the West Coast stated thai she was in good working order. Delivery of the machine was -given yesterday, and a wire was despatched to Mr Hargreaves asking him to take possession. The machinery was originally designed by Mr Payne, and the directors are approaching him with a view to having plans prepared for the construction of new pontoons. The company faa3 a sufficient quantity of blupgum and red cine en the claim for the construction of pontoons, and when this timber was recently inspected by Mr Guthrie, o!*e of the directois. it was in good condition. The dredge is fitted with an engine of 16 h.« and a boiler of 20 h.p., both being of Marshall's make. The buckets »re of 4J cubic feet capacity, and the dredge can work to a depth of moo than 30ft. The directors intend to lose, no time in having the •iredge dismantled and removed to the Bignell'a No Town claim, a distance of seven or eight miles, and arrangements hsve boen made with Mr William Wyll :s U.t the supervision •f the work Mr Wyl...< ; 't>d as Mr Payne's representative on tho V/e;i Const for some years, and is spoken of rs a very cmable man. Iha diedse, it may b? ment oncd, wjs r/orknig

steadily until a few weeks ago, and the <-uspriisio.i of operations was entirely due to the dnpsyable nature of the ground. Ttie financial ].o.sition of the company is pvajtica'ly assured, aud if those shaieho'de^s who=e ciIU are in arrear will pay up promptly the diedge should get a good inn. At the directors' meeting yesterday morning a Luge uumbei of shares were forfeited, ai a the solici'ol9 have been instructed ti press for the payment of all ariears. It is intended to commence operations at the lower end of the claim, which i-> only d sliort distar.ee away fiom wheie the Xo Town Cieek Company's dredge is woikni^ at piescnt.