ALPINE No. 2 GOLD DREDGING COMPANY.

Otago Witness, Issue 2571, 24 June 1903, Page 24

ALPINE No. 2 GOLD DREDGING COMPANY.

Th« following report will be presented to shareholders in th© Alpine No. 2 Gold Dredging Company at the next annual general meeting : — " The directors have pleasure in placing before shareholders the fourth annual balance sheet to April 30, 1903. It wop found necessary to lengthen the ladder, and in July last an additional Bft was added, thus allowing the dredge to work to a depth of about 46ft. The extension has proved to work very satisfactorily, antl dredging operations are carried on for a longer period than formerly. During the year 1088oz ldwt 13gr oi gold, to the value of £4202 8s lOd, has been won, which has enabled your directors to pay two dividends, amounting to 5s per share, and to place the sum of £500 to a reserve fund. The total gold returns since the dredge started work in March, 1901, to the 30th April last, are 17690z Bdwt 4gr, amounting to £6836 4s lOd, and 6s per share in dividends, amounting to £1860 15s, have been paid. Our dredgemaater (Mr Ales. Johnston) reports that the dredge is in good order, and the machinery running well."

On April 30 the company had a bank balance of £131 18s 4d, in addition to the reserve fund mentioned above; while tho liabilities amounted to £49 8s Id. Since the close of the financial year, however, tho dredge has won three handsome returns of 560z lldwt, 660z 3dwt 12gr, and 113oz 14dwt 13gr respectively; or an aggregate of 2360z 9dwt lgr, so that the financial position will be better at present than it was when the balance was made out.