Notes from Reefton. (From Our Own Correspondent.)

Otago Witness, Issue 2578, 12 August 1903, Page 24

Notes from Reefton. (From Our Own Correspondent.)

REEFTON, August 10. I The manager of the Alpine Extended Com- ' piny reports for the v/eek: — No. 12 level has been extended pouth 16ft, and the north 16ft for tho week. The south faca continued v«Ty ha*d. The stone in the north end has be-en stripped for 12ft. It is 3ft wide, of poor quality. The manager of the Industry Company reports: — The winze has baen sunk 12ft, making a. total distance of 52ft. The reef got smaller and .a little broken. There is a foot of stone in the bottom of the winze, carrying a little gold. The manager of the New Scotia Co. reports for the week:— The crosscut in No. 1 Level lias been driven 10ft, making 21ft. There is no change to speak of. We have cleaned down the stopes, and sent all tho stone to the alvaft. AYe are now putting a crosscut into tho west side of No. 3 stope. To-day there is 2ft Cm of stone here. I would recommend driving further in this direction. WAIKAKA QUEEN GOLD DREDGINGCOMPANY. The annual meeting of the above company wa3 held on Tuesday, August 4, at the office of the secretary, Mr J. A. Yule, Gore. About a dozen shareholders were present, the chairman of directois John Turubull) ingThe B'Snual report (already published) and "balance sheet were adopted, on the motion of the Chairman and Dr Donaldson. Messrs p. R. Buchanan and W. H. Peterson were elected d.rectors. The directors' fees were fixed at £50. Tho secretary was compMmentcd on the manner in which the books of the company were kept. It was resolved that tho -adjoining ground) under option to the company be puichased. Mr B. J. Faitt was re-elected auditor. WAIKAKA GOLD DREDGING COMPAXY. The annual meeting of the above company was held on Tuesday, August 4, at the office iof the secretary, Mr J. A. Yule, Goie. There were 12 shareholders present, Mr J. Turnbull (chairman of directors) presiding. Tha report (already published) and balance sheet were adopted, oi the motion of the Chairman and Mr C. Steans, the former congratulating shareholders on the gratifying success that had attended tho year's operati ons. It was resolved that the items " dam" and " preliminary expenses" be written off. Messrs TaLboys and W. H. Pa'tc-rson wcie re-elected directors. The directors' fees were fixed at £65. Mr B. J. Faitt was re-elected auditor at a fee of £5 ss. As in tho case of the Waikaka Queen Coni-ipa-ny, the se.-retaiy was complimented on the manner in which he kept the company's books. RISING SUN GOLD DREDGING COMPANY. The following report for the year erded 30lh June will be presented to shareholders in the Rifing Sun Gold Dredging Company at the fiist annual general meeting' — "Tho circu'ar issued to sharehoMeis in April last fu'ly exp'air.ed the firane a! position. of the company, and in particular the arrnpgenients which have been made for overdraft when required. Your directors are high'y .pleased to have to leport that so far the bark account has been always in crcd.it, and there has been no necessity to o\erdraw— thanks to the promptitude and regularity with which calls have been pa'»d. The dredge is now \cry nearly competed, and is expected to be early at work. The coaitractor is at piescnt waiting for a load which tho bad weather has delayed. Mr W. Kane was appointed diedgemaster, and is at present working on the dredgo for the contractor, Mr Donald. It is intended a3 soon as possible to take advantage of the high river and drop tho dredge down to tho foot of the claim, and let it commence at the lower boundary, where the Rise and Shine touches the Sun claim. A toad became necessary for the u=e of the dredge, and lias been constructed, the County Council paying porkou of tho Co3t/' PRINCE ARTHUR GOLD DREDGING COMPANY. The master of tho Prince Arthur dredge wired on Saturday that, he anticipated no difficulty in raising the Ireclge, but it would be necessary to have the assistance of divers to do it. The climatic conditions since the dredgemaster was in Dunedin at the annual meeting of the company have been of almost unprecedented severity, nd in consequence the- work of refloating the dredge has been considerably more expensive than would have been the case if tho weather had been favourable. This, together with tho fact that some of the claims of the creditors arc pressing, may necessitate the msilnnt; of fi--""io] arr •• i-o^.rjif 15 pending the lesunipUoa oi opeuiUons. Any, such

arrangements will, however, be in the directioi of fully conserving the interests cf all creditor and also those of the shareholders. The direc tors wish, to impress upon shareholders th advisableness of not parting with their share until they are taken into the full confidence o the directors, which will be within tho nex day or two. DREDGEMASTERS' CERTIFICATES. The following candidates have successful!; passed their examinations for dredgemaster'; certificates: — Francis "Woodhouse, Cromwell D. O. Hepburn, Alexandra; J. B. Rooney, Rox burgh; William Linney, Island Block; AVillian Brnigans, Alexandra; Robert Borthwick, Alex ar.dra; William Kane, "Cromwell; W. Poppel we'!. Alexandra; Matthew Harliwick, Rox j burgh; Jamsa Wathew, Miller's Flat; H. B Murray, Cromwell; C. B. Curno, Alexandra; John Paterson, Alexandra; Ja.mes E. Carrol! Alexandra ; John Watt, Roxburgh ; James Sav.'le, Cromwell ; J. F. Ray, Bannockburn ; John M'Lean, Roxburgh ; D. D. Elder, Rox burgh; William Orr, Cromwell; George Wilson Marsden; T. E. K. French, Three-channe. Fiat; L. H. Motel, Inangahur.. .Function ; E. H WaTson, of Collingwood, Nelson (late of Clyde) also passed the examination. DUNSTAN LEAD GOLD DREDGINGCOMPANY. The following report for the year ended June 30 will be submitted to the shareholders in the Dunstan Lead Gold Dredging Company at the fifth annual geneial meeting: — " The directors are naiurally very pleased at being abb to •congiatuhle shateho'.deis on the gieatly improved position of the company's affair? during the 12 months covered by this report and balance sheet. It will be admitted that events have proved that your directors v/eio not too sanguinely optimistic in theii ntleranco in last year's repdrt when they said f they believed ' the company would justify its | existence and pass into the dividend-paying list.' On the 30th June, 1902, we lipd liabilities hanging over us to an amount exceeding £1600 beyond our 'liquid asssts, and the debit balance of the profit .and loss ncctnint was £760 3s Cd. On the 30th Junp of this year we had liquid peseta beyond liabilities to the amount of, saj', £930, out of which a dividend of Is per shara has since bsen paid; -while- the balance at credit of profit and loss account was £1352 15s lOd. The amount of gold obtained during the 12 months was 1809bz 7dwt 6gr, to tho value of £699-1 2s lOd; while the gross expenditure was £3476 16s Id, this being a, return on the year's working of £3517 63 9d over expenditure. The amount of gold obtained was equal to 340z lodwt 22gr for the 52 weeks of a year, and to an average of about 490z per week for the time actually diedged. The dredge woikmg expenses amounted to £3058 14s Bd, boing at the 1 rate of £55 163 5d per week — equal to looz 4dwfc Bgr, reckoning go!d at £3 17s 4d per ounce. The gToss expenditure avenges J£6S 17s 3d per week —equal to I7oz sdwt 20gr. It will be noticed that the property and plant asset has increased since tho previous aunuaj statement by £103 2s 9d. This anse3 from the fact that in January last -we purchased from the holders an area of 19 acres of ground on the east bank of the river, part of which was at one time held by tho New Alexandra Compauy, a-ucl in which they got fair returns while working under difficulties. Their experience, coupled with our own, In working into that bank appeared to justify your directors in making this purchase, and the more so in view of the fact that we now have it in our power to relinquish a portion of our original claim and thereby save tho rent entailed by holding the acquired ground, which is conveniently situated and desirable for aclsMJntvgoous y working oui claim. Last October the dredgo i\as visited by Messrs S'igo and Nee=, and tliei 1 * report was printed and circulated to shareho'dcrs. Messis J. C. Thomson and the secretary visited the rlredge in November last, ?nd during t 1 c year Mr H. F. Nces has visited tho c-kim som« half dozen tunes. To thai gentleuau the dneciors feel they are laigoly indebted for much valuable assistance and advice. They can assure shareho'deia that the company lias been much b .nefitcd thereby. On tlie 29th JL>rch tho diedgo was =tjitod for the bottom bourdarv of the claim, which, however, she did not quito succeed 111 teaching owing to insufficient depth of water. Goo'l ground wa<j left when this move was made (590z sdut for the la^.t eight flays sho worked on the western side, well up the claim), but the move was made in pursuance of a carefully-considered scheme of working — uver conditions being taken into account,— and the first return after shifting was 70oz, and the nrxt 90oz, aftpr which less of solid ground was met with, although the returns havo bern well maintained, and by this tuna our credit balance wa3 well up to £1000 Tho dredge has certainly not had more than the usual mrffiber of breakages and stoppagrs. -\o diedging, however, was done from the 22nd December to tho 12th Febiuary, during which time a thorough oveihaul wa3 given, this being the fust lengthened stop for an overhaul since phe started. The dradgo is working a face of between four and five chains wide, taking all before her. Much better returns could bsjput up by picking the ground, but that policy 50e3 not commend itself to ycur ditectors. We are quite satisfied -with tho present and future prospects of the company. AYe bellevo that tho company has a long iife before it, and wo trust it will be a successful one. It will bo noted that a reserve fund of £500 hap been put aside, vhich wo trust shareholders will consider a wise prevision. Yout directors have pleasure to. testifying to tho skilful and energetic management of our dredgemaster (Mr Duncan Bringans), to whom thanks are laigely duo for the present satisfactory position of tho company." NEW ALPINE CONSOLS GOLD DREDGING COMPANY. The first annual general meeting of shareholder in the New Alpine Consols Company

was held at the company's registered office at

p.m. on Eriday. Mr Jonathan Rhodes, chairman of directors, presided, and there were four other shareholders present.

The Chairman, in moving the adoption of the report (already published) and balance sheet, said that shareholders would see that 7360z sdwfc 14gr of gold had been won during the yea*. The present season had been disastrous for dredging, but the weather now seemed settled, and if good luck continued dredging might be carried on till the end of November. Two directors had been out on a visit to the claim, and they and the engineer considered that the dredge would shortly again be working to profit.

Mr Harraway said "that some months ago information was given to the Otago Daily Times that the ladder had been lengthened 12ft, and it was said that this would enable the dredge to work during p, flcoJ; yet when the river rose to 4ft Gin the dredge could not work. It had beeu said that the ladder had not been lengthened, and he (Mr Harraway) would like an explanation of the matter.

The Chairman said that he was not awar3 of the circumstance, but promised to have the matter investigated. The master had been mistaken in the ground, which got deeper farther up the river.

On the motion of Mr Harraway, seconded by Mr Stokes, it was decided that the retiring directors (Messrs J. Solomon and W. Foreman) be re-elected.

On the motion of Mr Stokes, seconded by Mr M'Cracken. Messrs Garrow and Stewa.t were reappointed auditors.

TIIE NEW GOLDEN GRAVEL GOLD DREDGING COMPANY.

An extraordinary meeting of shareholders in the New Golden Gravel Company was hed in tho company's office on Friday, to consider what steps should bo taken to put the dredgo in working order again. It will be remembered that on the evening of July 11 the lines holding the ladder gave way. The ladder recently got silted up, and all efforts to raise it since have been unsuccessful. Some half a score of shareholders attended the meeting last night, and Mr C. E. Keast, chairman of directors, presided.

The Chaiiman stated that he and Messrs Cotton and Phillips, sen., 'two of the other directors, had been up to the claim and had endeavouied to get the ladder raised by means of a block and tackle, but tho lines had always parted, and all their efforts had been unsuccessful. They tried to mako arrangements with the Champion Company to come alongside and dredge the ladder out. That company asked for £100, all expenses, tho manning of their dredge by their crew, and_a personal guarantee for the return of their dredge. The directors, however, could not see their way to accept these terms. They had made a counterproposal 10 the Champion Company, but so far had not got any reply. -

In reply to questions, it was stated that tha company at present had a debit balance of £S2. About £51 63 4d of that had gone in repairs to the ladder before it went down. The directors had endeavoured to get a traction engine in the district, on the chance that it would bo of use, but had failed. They would save perhaps 16 of the buckets and three rollers; but to get a new ladder, even minus these things, would cost £800.

Captain Hodge, who had visited the claim, stilted that in his opinion it would take twice the strength of the Great Eastern's tackle to lift the ladder now, as it was silted up 20ft. If they could not get the Champion dredge to assist them, the other alternative was to rais3 £1000, abandon tho present ladder, and get a new one. Everything had been done that could )j2 done.

Mr Cotton, who now entered, made a statement endorsing what had been said in regard to the negotiations with the Champion Cornpanv, and said he also considered the demands cf that company not reasonable.

After further discussion it was decided that the directors should make further inquiries as to the matter of getting the ladder lifted and leport to a further meeting of the sharcho!deis.

NEW GIBBSTON GOLD DREDGING COMPANY.

Though the New Gibbston dredge has been closed -clowirin the meantime, the dredgemaster still takes a hopeful view of the situation, a..d considers that gold will yet be struck if 1h? directors can mako arrangements to continue operations for two or three weeks more. The machinery has gone without a break from tlio commencement of opeiations, and the patent elevator has given every satisfaction. The diedgo commenced operations at the top of tho Galvanic claim on June 12, bottoming at a. depth of 40ft on a scaly reef. The proipecfs wore poor. On June 29 the dredge was shifted to the bottom end of the Galvanic claim near Green's Point, where work was lcsumed on July 6, tho dredge bottoming at a depth of 32ft. Here, with tho exception of a week during the snow, work went on steadily until August 1, when the dredge was closed down, as the prospects were poor. Last week the dredge was pulled ahead a distance of 9ft, but when she bottomed again the prospects were still poor, though the bottom was soft. A meeting of shareholders will be held shortly, when those interested will be called upon to decide whether it is advisable to prospect the claim ■further or whether the company suould bo wound up voluntarily.

FEDDERSEN'S GOLD DREDGING COM-

A meeting of the shareholders of the FcdderE^n's Gold Dredging Company was held on Monday afternoon at Mr R. T. Wheeler's office to cc.ii.sidor whether tho company should proceed to taise funds to continue dredging operatious or acceut an offer from Ike Mokoia Com-

pany to purchase tha dredge and claim ab

£4000. Mr T. A. Hunter, chairman of the direc-

torate, presided, and, in opening the meeting, said ho was sorry to call shareholders together to consider the position, but tho directors thought it^was forced upon them. The oper*tions of tlie dredge did not com© up to expectations, and every part had been tried where tl-ero was reason to expect good returns. An offer had been made by the Mokoia Company, and it was one the directors thought should nob be missed, as in a short time the company would have to face the position whether it would still carry on and raise hinds by debentures or preference shares or wind up affairs. The company might have carried on a. little longeT if the offer had not been made. It waa a veiy good offer— namely, £4000,— and the ground had been tested practica'ly over twothirds of its extent. Soma shareholders on tho West Coast thought the ground was very rich, but ho might say they were confident also of the ground worked, which did not turn out to bo rich. The terms of tho offer provided that if tho remainder of the ground did turn out rich the company would receive part of the profit at least. It seemed to tho directors

that if they accepted the offer of £4000 the would ba in a better position than ij it continued operations. The shareholders in Dunedin were willing to accept tho offer, but some of tho West Coast shareholders were not, except upon certain conditions.

Mr A. G. Fenwick said he Lad been asked to represent the West Coast shareholders, and they hnd forwarded their proxies in favour of a eale upon certain conditions. The difference between their conditions and the Mokoia Company's terms of offer was as to the amount of working expenses. If tho purchasing company found tho ground payable after two months it v.as to continue for 12 months, but tho difficulty was to arrive at what was or was not payable. He would like to ask Mr M'Vickar if thogrouad) the dredge had been over was well tried.

Mr M'Vickar said ho considered it had been been well tried. In reply to further questions, the dredgemaster sa-fd it was a question whether there would be room to work the remainder of the giound vathoufc a silt elevator. Tho ground was rough on top, and it was a .question whether it would not require fully 20oz a week for w orkiicg expenses to carry the dredge through. Tho lead of gold seemed to have gone into Feddersen's Freehold. The dredge worked close on three weeks for 50oz, and it was then pulled up 300 yards, and a jut taken right across tho river; but the prospect's were very poor until it reached the beach, where tho lead) ran into private property. The ground adjoining New Creek was very tough, and it was a question whether tho dredge could work it. Mr Fenwick said the question was whether the directors hsd any data to go upon to recommend tho shareholders to put out their money. If there had been no chance of selling the dredge there would have been nothing further except to try the ground a little more. It was questionable, even if good gold were obtained, whether it would be possible to get a profit to the extent of the offer. Tho shareholders had sent in proxies in favour of a sale, but the Recfton and Westport shareholders opposed a sale except upon their conditions.

In reply to a Shareholder, the Chairman said tho Mokoia, Company's offer was £1000 cash and £3000 payable on terms.

Mr Fenwick said the West Coast shareholders ■wanted the ground tested for tovo months. If it was found payable the purchasing company was to work for 32 months. The Mokoia Company could not be expected to go on for 12 months on a 20oz return per week. The Chairman said the shareholders on tho Coast considered the ground was very rich. Possibly it was, but it waa dJso very rough, and unless the dredge obtained something 'iko 50oz per week there was nothing much in it. Mr Fenwick said it wou'd ba freely acknowledged that the dredgemaster had dono all that could possibly be done for the company to make the operations a success, but tho gold was not there.

Several other shareholders expressed tho same sentiment in regard to the dredgemaster's zeal in the company's interest.".

After ftirthei discussion, if was decided to adjourn the meeting till Friday next at 4 p.m. to give shareholders a further cv>v>ortunity to consider the Mokoia Company's offer.

THE MONTE CHRTSTO DREDGING COMPANY (LIMITED).

TJio fourth annual meeting of shareholders was held at Clyde on Friday, 31st July, when Eoina seven shareholders were present, representing, with proxies, 2650 shares.

Di John G. Hyde wa3 elected chairman

The Chaiiman said they were met for tlio purpose of considering the report and ba'ance sh"et for the year just ended, r.nd to elect directors to fill the place 3of himself and Mr Bodkin, who retired. With them, he regre'tcd the prospects of tho company were < ot brighter, but ho hoped, if the riv»r continued favourable, tho company viou"d again come to the frout. The position of the company at present was, that after all debts were pad, including £50 purchase money for tho Vincent Exterded claim, but r.ot pioviding for the »xpMi"e oF lengthening the ladder, iho-re would only be £5 cr £6 left. It wi<s found that tho dredge coulct not bottom right across the rivei on the Old Dunstan claim, and the question of lengthening the ladder was considered. To put a, new section in the ladder would cost £250 at least, and in the present position of the company this was too big an undertakirg. The directors had therefore decided to lower the ladder shaft in tho same way as was done on the Vincent Extpnded dredge, and tho dredge would then be able to work to an increased depth of Cft or 7ft. and it was estimated that the cost would ~ofc exceed £60. The directors had endeavoured to. get the work carried out as cheapiy as possible, and had secured tho necessary material, including buckets, which cost £5, at a very reasonable figure, and the work '^a° "ow under way, and the dredge v.-ou'd >i nbab'y g=t to work in a wet-k's lime. When v.oik was sioppci

the dredge was 0:1 fairly good ground, having •obtained 9oz for two days' work, and this wa=» ,at a time when the centre of the river could not be bottomed. With regard to finance, if the dredge got gold, no assistance would be required, but in case it was fee thought the directors would bs prepared tc give the bank a guarantee for an amount sufficient to test the claims. Mr Pitches proposed, and Mr T. Wilkinson seconded — " That, the report and balance shest as read be adopted."— Carried. ■Mr Pitches proposed, and Mr Waddell seconded— " That Messrs Hyde and Bodkin be re-elected directors for the ensuing term." — OiTried.

Mir Wilkinson proposed, and Mr Bodkin seconded—" That Messrs Stevens and Hutton "be re-elected auditors for the coming year. — Carried. Mr Bodkin thought they cou'd not do better, in the present position of the company, than to reduce the cost of management, and he ■would propose — " That Ilie directors' fee 3, auditors' fees, and secretary's salary bo reduced by one half — the directors to receive £30, to be divided between them, the auditors £3, and the secretary to be p*id at the rate of £30 per nnnum." This was seconded by Dr J. G. Hyde, and carried.

The meeting then concluded

GOLDEN RUN DREDGING COMPANY.

The following report for the year ended Juno •30 will be placed before shareholders in the ■Golden Run Dredging Company at the next ennnal general meeting- — " The sluicing claim and plant have been let on tribute on very satisfactory terms. The protection for thfc dredging claim having expired, jthe dredge was taken down the river, and commenced work on the dredging claim in Apiil last. The dredge- had to work a good deal of old ground to open up a face and take in the a-iver, as it is impossible to work tho banks ta advantage without using a. stream of clear witer from the river. In accordance with the rrticles of association, the local director and the auditor retire and, both being eligible, offer themselves for re-election." When the liooks were closed the company hud a balance of £63 18s 4d at the bank a.nd geld ©a*liß.nd to the value of £70 2s 3d, and also «. sum of £20 16s 3d representing the value of gold on hand from the tnbuters. There was also a sum of £100 due by sundry debtors as rent for water. As against this there were sundry c-editors representing a sum of £659 19s 6d. The value of the go.A won during the year was £5906 0s 6d, and other receipts brought the total revenue up to £6067 7s 9d. THE WEEK'S DREDGING RETURNS. "■•during the week ended Monday, August 10 returns were reported from the following 63 dredges, the total yield being 25320z 7dwt 22gr, or an average of 41oz per dredge: — Oz. dwt. gr. Hartley Mid Rilev, Crenive'l. 136hrs 558 0 ? Mar.uherikia, Alexandra. 142'nrs 244 4 0 Cromwell No. 2, Cromwell, 136hrs 102 6 0 Electric No. 2, Cromwell, 3 days 88 5 Earnscleugh No. 2, Alexandra, 131hrs £0 G Alpine No. 2, Cromwell, 194hrs 72 1 10 Dunstan Lead, Alexandra, wk „ .61 0 0 Perseverance No. 1, Alexandra .. 57 3 12 New Roxburgh Jubilee, Roxburgh, 138hrs «2 Waimuniu Queen, near Mataura, 180hrs 1 Sailor's Becd, bolow Alexandra, - 7 days 46 "* 0 Sheddon'* Freehold, Waikaka .. 46 0 0 Enterprise No. 2, Alexandra, wk 45 Jj6 0 Electric No. 1, Cromwell, 51 days 43 0 0 Golden Run, Miller's "Flat, ,137 his 41 0 0 Enterprise No. 1, Alexandra, wk 40 5 0 Central Charllon, nr Gore, 169hrs 40 2 0 Hessey's, Waikaia, 120hrs . . . . 39 12 0 Molyneux Kchinoor. Roxburgh, 8 days _. . 39 10 0 Junction Electric No. 1, Crc"mwell, ,114hrs 38 3 0 Waikaka, Quean, Waikaki, 159nrs 35 3 0 Davis's Bend No. 2, abovt Clyde, 145hrs ... 33 0 0 First Chance, Id.ow Alexandra, 93hrs ..... . 15 0 Otnpo No. 2, island Block, litehrs ........ . . 31 0 0 Waikaka United No. 1, Waikaka, week 29 1 0 Upper Waipori, Waipori. 1401ns 23 0 0 Waikaka Syndicate, Waikaka .. 28 0 0 llatau, Clyde. 10 days . 28 0 0 Charlton Creek, nr Gore, fortnight 28 0 0 Riley's Beach, Cromwell, wk . 27 10 0 Rise and Shine, Upper Clutha, llShrs 27 1 0 Junction Electric No. 2, Cromwell 27 0 0 Majestic, Miller's Fiat .... 2<j 14 0 New Paul's Beach, Beaumont, weok 26 32 0 Unity, Clyde, o doys 25 0 0 Happy Valley, Tuapeka Flat, 12Sbr8 21 0 0 Success, Waipori, 135hrs .. .. 20 10 0 Inch Valley, nr Palmerston, 134hrs 20 6 0 Tuapeka. Tuapeka Flat, wk .. 20 2 0 Golden Gate, Miller's Flat, week 19 4 0 Empire, Waipori. wk . . .. 18 11 0 Waikaka United No. 2, Waikaka, week 18 2 S M-acCharlton, nr Gore, 130hrs . 18 0 0 Lady Roxburgh, Roxburgh, wk 17 7 0 Central Mataura, nr Gore, 127hrs 16 13 0 Inchdale, nr Palmerston, 13Shra 15 15 0 Golden Bad, Miller's Flat. 105hrs 15 11 0 Royal Waimuniu, near Mataura, 130hrs 14 19 0 Enfiekl, Waipori .. 14 10 12 Taniwha, Tuapeka River .. 14 0 0 Otago No. 1, Miller's F!at .. 14 0 0 Ettnck, Roxburgh, 127hrs .. 13 0 0 Lawrence, Tuapeka Flat .... 13 0 0 Island Block, Beaumont, 114hrs 12 4 0 Spec Gully, nr Mataura, 12'hra 11 15 0 Muddy Creek, Waikaia, 2 days .. 11 0 0 Gabriel. Tuaneka Flat. 3 days .. 10 3 G Lower Enfield, Waipori, wk .. 10 0 0 Grand Junction No. 1, Nevis River, 80hrs 9 0 0 Wainiuinu Extended, nr Malaura, 71hrB 7 12 0 Olrig, Manuherikia, 130hra .* 7 11 0 Globe, Waikaka, 135brs .. . 7 4 0 Reliance, Tuapeka Flat, 3 days . . 7 0 0 Molyneux Hydraulic, Alexandra, 135krs 5 15 0 Total 2G32 7 22 Tite West Coast. No Town Creek, 120hrs .., .. 76 0 0 Blackwater River, week .« •- 53 0 0 Nelson Creek, UShis ; . ,-.. 45 0 0 Mosquito, 115hrs •-• c\ ;>. i 0 0 0 Totara Flat \ ,-, 23 11 0 Prince of Wales, 84hrs r m •» -1 21 14 0 Buller Junction, 70hra „ 21 0 0 Cornwall, lOohrg .. „,,.»►. 20 9 0 Kohinoor, HOhrs .. . = , ,» 19 0 0 Golden United, lOOhrs K » c * 17 6 0 Mokoia :~ 16 7 0 Blackwater Lagoons, 95hrs .« 13 5 O Erickson's Reward, 200hra \. 10 8 0 Greenstone Creek, 135hra ... .. 10 8 0 Leviathan, week 9 0 0 Greenstone Junction, broken wk 8 7 0 New Garibaldi 6 0 0

REPORTS FROM WORKING DREDGES. The master of the Hartley and Riley dredge t reports that he has washed up for a return of I 3S9oz. I The return from the Waikaka United No. . 2 lor the loth inst. was 21oz, not 9Joz, the secretary having understood the dredgemaster's wire "giving the return as 21oz to hnve indicated that amount of pmalgam instead cf gold. The master of the Mar.uherikia dredge wired a return of 1270z 4dwt on Tluirsday, after working up till Wednesday morrxng. The prospects were still good, but the drift was troublesome. The secretary of the Alpine No. 2 Gold Dredging Company reports a return of 51oz for a mid"-week wash-up. The master stated that th& Hartley and R,;ley dredge was work- j ing on the boundary of the claim. j The secretary of the Cromwe'.l Gold Dredging Company reports a. return of 102oz 6dwt for 136 hours' work. The master stated that tha I piospects were fair. ~ I

The secretary of the Hes3ey's Gold Dredging Company reports a return of 390z 12dwt for 120 hours' work. The master stated that the prospects were good, but he had net bottomed yet. Mr D. A. Jolly,- the local director of the Riley's Beach Gold Dredging Company, wired on Frifay thftt the return was 270z lOdwt for the week's work. This v:as obtainfd from goodlooking wash, and a better return is expected this week.

The secretary of the Junction Electric Gold Dredging Company reports a return of 3Soz 3dwt'for 114 hours' work from the No. 1 dredge. The master stated that the ground was improving right across the cut. A return of 270z is reported from the No. 2 dredge. The secretary of the Enrnscleugh Gold Dredging Company reports a return of 80oz 6dwt~ for 131 hours' work from the No. 3 dredge. Tho master of the No. 1 dredge wired that operatioDß were resumed on Thursday njght. The secretary of the No Town Creek Gold Dredging Company reports a return of 78oz for 129 hours' work. The master stated that everything was running well. The directors have declared a dividend (the tenth) of Is per share, payable on the 11th inst. The sum of £100 had been added to the reserve fund.

The secretaiy of the Sailor's Bend dredge reports a return of 460z for seven days' work. The master stated that a thaw had set in.

The secretary of the Davis's Bend Gold Dredging Company reports a return of 350z for 145 boms' work from the No. 2 dredge. The master stated that the prospects were good.

The secretary of the Rise and Shine Gold Dredging Company reports a return of 270z ldwt for 118 hours' work. The master stated that the indications pointed to an early improvement in the wash. The machinery web luuning well. The secretary of the Golden Gate Gold Dredging Company reports a return of 19oz 4dwt for the week's work. The master stated that the river was steady.

The master of the Muddy Creek dredge reports a return of lloz for two days' work. Operations were suspended! on the 3rd for' a •week to effect some repairs, the dredge having run continuously smce the New Year without a breakdown. The secretary of tho Gabriel Go.d Dredging Company reports a return of lOoz 3dwt fcr about three days' work. The master, who reported that everything was working well, intended to dredge out the dam on ijatardcy, after which he would have the whole face clear again. The secretary of the New Alpine Consols Gold Dredging Company reports that theie was no wash-up last week. The master of the Golden Treasure dredge reports that there was' no wash-up last week. Mr L. Ryan, Alexandra, reports a return of 570z 3dwt 12gr from the Perseverance No. 1 dredge. The No. 2 dredge will probably be able to resume operations early next week. The master of the Garibaldi dredge reports a return of 6oz for opsning out. A good deal of silt had been encountered.

The secretary of the Happy Valley Gold Dredging Company reports a return of 21oz for 125 hours' work. The groand was getting deeper la-st week, but a lot of pug had to bo contended with. The dredge was working most o' the time "on Cranley's side of the cut.

The secretaiy of ths Prince of Wales Gold Dredging Company repoi-ts a return of 21oz 14dwt for S4 hours' work. The dredge has been shifted to iEe Robertson's Creek side of tho dam, where the wash is much softer, and better returns may be expected

DUNEDIN STOCK EXCHANGE

August 4. — Hartley and Riley, 47s 6d and 50s; Manuhcrikia, 335. August 5. — Hartley ■and Riley, 50s; Maiiuherikia, 31s; Monte Christo, 4s 9d to ss.

August 6.— Alpine No. 2, 18s and 19s Cd ; Bignell's No Town, 10s^9d; Hartley and Riley, Gas, 665, 67s 6d, 68s, 695, and 70s; Manuherikia, 31s 3d, Monte Ohristo, 5s and 5s -3d ; New Roxburgh Jubilee, 19s and 19s Gd, Traflagar, Is 3d. August 7.— Alpine No. 2, 19s 9d, 20s, and 20s 3d ; Golden Run, 13s ; Grand Junction, Is Gd ; Hartley and Riley, 73s 6d, 745, and 755; New Alpine Consols, 14s; Prince Arthur, 6s 6d; Rise and Shine, Z6<s. August B.— Alpine No. 2, 19s 6d and 19s 9d ; Junction Electric, 6s 6d. August 10. — Fourteen-mile Beach, Is 6d ; Junction Electric, 7s 6d.