Notes from Greymouth. (From Our Own Correspondent.)

Otago Witness, Issue 2623, 22 June 1904, Page 25

No t es from Greymouth. (From Our Own Correspondent.)

GIIEYMOUTH. June 15. Las^' week 22 dredges gave returns, the aver* pge being 240z per dredge

The Prince of Wales dredge, which is worked on tribute, is doing fairly well, although s&s had a nuniber of stoppages. Her yield for the fortnight was 550z, with better prospects ahead.

The Kohinoc-r dredge is as yet baling out silt, and as minor floods are occurring every ■week lately she is not making much headway.

The Ross Daydawn dredge is getting the pontoons fairly 'clear of water, but the weather i 3 much against operations, piid the exact amount of damage siistained has not been ascertained. By the time a fresh start is made I fear the company will be a good deal in debt.

The Totara-Shellback pontoons are to be pub in hand at once. This claim has been better prospected than most of the ground -taken up, and, if prospects are anything to go by, it should be a good investment. The West Coast folks, however, are like burned children in regard to dredgirg prospects, and decline anything but actual returns. The Mosquito dredge obtained 520z last week. The machine is getting into wash similar to that worked before Christmas, and the dredge-

jn?,ster reckons he will ore long beat all his former records.

The Nelson Creek dredge has. trouble with boulders, and the wash is richer than returns would indicate.

The Stafford Waimea dredge continues to dredge through immense heaps of tailings ; hence the small returns. I fear that this will always be a trouble, but not to the extent of the present depth. • The Reeves's Proprietary dredge is not doing at all well. The giound is difficult, but the machine is disappointing.* The fact is that so long as the Otago strength of dredges is held to be sufficient for Coast ground so long ■will disappointment follow. Double the strength of the dredges (the expense would not be largely increased), and then efficient work may be looked for. The Greenstone Junction dredge got 17oz Sdwt, and is now on improving wash.

June 18,

Towards the end of the week there was a buoyancy in the dredging share market that has not been witnessed for months past. In tho list of those that are regarded as dividendpayers there was an inclination to advance in price, but doubtful stock remained uniioticed. Iv the first list may be classed Nelson Creek, Pactohis, Blcickwater River, Jamieson's Reward, Mosquito, Stony Mosquito, Bignell's No lown, Callaghans, Buller Junction, Rocklands, Totara Flat, North Beach, and No Town. The above are all looked upon as certain to give dividends, while there are others, such, as the Mokoia, Al, and Seeyes's Proprietary, regarded as likely to be soon in the list.^the last especially, notwithstanding recent joor returns. Then there are licpe3 that the Stafford Waimea, Kohinoor, and Prince of Wales will also yet overcome their difficulties and give back investors their money. In the Greenstone division the Three-mile Creek and the Junction may pay a- few dividends. The Ross Daydawn and No Town No. I are regarded as hopeful ventures, but test \s necessary to give any convincement to in7estors. The Blackwater Lagoons is a claim Vitb. a chance.

The Mosquito dredge got 550z for 128 hours. The dredge is now on SOft of wash, which is as deep as the ladder can work, and an effort will be made to lengthen it, the wash being particularly good. The prospects of this claim look' brighter than ever, and the dredgemaster is confident of getting over lOOoz per week .within a couple of months.

The Mosquito No. 2 dredge is laid up, whether permanently or otherwise I cannot say. Hfhis dredge followed ths line taken up by the Mosquito dredge, which was not a very rich line of gold, going closer into the terrace where one of the creeks run down, and where the Mosquito is now getting such gocd returns. The opinion is general that if the Mosquito "No. 2 had gone in the direction indicated it would long ago have struck good gold, and certain it is that if the present company does uot feel disposed to go any further it could tasily dispose of its dredge and claim at a good price to others, who would test the ground.' The Stony Mbsqxiito dredge got IGoz for three days. The dredge is still working a hole ■worked out by miners 30 odd years ago.

The Golden United dredge washed up lOoz 2dwt. The prospects are pcor. *

The Blackwater River dredge got 60oz for 2.07 hours. She will likejy show an improvement this week. The dredge is now workinjgy close up to the ground occupied by Mr Boyce. The latter holds about 60 acres, the worst of .which, is estimated to give 250z per week. 'About 15 acres, however, are very rich, and should average at least about 50oz per week, j 'Ihe whole of the 60 acres has, I understand, ' "been offered to the company at about £22 per 1 acre, Mr Boyce to receive in addition 10 per cent, upon all the gold won over 15oz per week allowed for working expenfeet. The company appears to be somewhat undecided, but, high as the percentage is, there can be no doubt as. to the advantage to ths company of securing 15 ceres where the best gold lies. Tlie Blackwater Lagoons dredge got about 12oz, but towards the end of the week was into a better sample of gold, and heavier returns are expected.

The Moonlight dredge got lloz 14dwt for 104 , hours' work. The dredge was worked to much disadvantage owing to floods bringing a largo quantity of silt and timber dowr.

The JN r o Town dredge fell off to 12oz for the week", and shares have still further weakened. (Notwithstanding the recent poor returns it is believed that the wash will again improve, although a few people expect the ret.urn cut to be as good as the one worked

The Bignell's No Town dredge bad only 54 hours' run for 290z lldwt. She was stopped for repairs and renewals, but is now working in capital wash, and with a full week's run should beat her previous best week's yield by 15oz or 20oz.

The Jamieson's Steward diedge gave 430z for a^faijly even week. The wash continues very uneven, "the dredge rnigtt at any moment run into a very rich patch or just the opposite. 3Totwithstanding this uncertainty the property is a good one. The' Nelson Creek return is not yet public. It will, however, considering that there were be a fair yield. The machine will be laid up on Monday for repairs, which are likely- to occupy a fortnight. Callaghan's Creek dredge got 330z 4dwt for 120 hours, and although the wash does not differ in appearance from that in which looz were- obtained, the deposit of gold has thickened, and the' dredgemaster seems confident of a good run for months to come. The Totara Flat dredge got 3003 2dwt for the week. The wash is the easiest on the West Coast, and the dredgemaster is very confident of being able to average about 34cz for a good time to come.

The Paotolus No. 2 dredge got 320 a for 131 hours. There is very little alteration in the vrash from last week. The Pactolus No. 1 dredge got Boz lOdwt. This is the worst return over recorded by this dredge. Although returns from the Pactolus claim have not been laxge for months past, yet as an investment it is regarded by many sis the safest and best dredging property on the West Coa=t. In area it is the largest, whilst the ittns oi gold that are known to go through various portions of it leave no doubt as to the certainty oi heavy leturns

A rumour is current to the effect that some excellent ground has beer struck at Commissioner's Flat. The Healey Gully Sluicing Company washoci up on Friday with 13ioz for 345 hours. The actual yield of gold for the month was 148oz, •which gives a big margin of p-oiif

June 20.

The Nelson Creek dredge got 117oz for US hours' dredging. Tha dredge stopped on Saturday morning for an overhaul. The legs of the tumbler framing having become soft, will have to be rene.ved. Some alterations to tha boiler are also being effected The dredge is expected to be idie for 10 clays. The prospects ahead are very iromising, the dredge having now reached one of tho richest and most fancied spots in. the creek; and were at not for the vast pile of accumulated tsi'.i 1!?'1 !?'- u l tho mouth of Nos. 1 av.rtS creel:-, r:c t •-. .."- • "a 1 .ctuiw ■would be obtained. The company g»>'- from March 30 to June 18 13310z sdwt 10gr ot gold, paifl Ss 6d m dividends, and wi'l prcb'ib'y pay ancther 2s 6d for the month now closing. The Stafford-Waimea dredge hns eiitountered considerable difficulties of late owing to large floods in the Waimea Creek A few dovs ego the dredge was taken to the north bank of the claim, and dredging operations will be comm-

enced in the flat between the creek and the main road. It is anticipated that the great expectations which were held of the claim will now be realised.

The Greenstone Junction dredge washed up 17oz Bdwt, and the Greenstone Creek dredge 19oz 16dwt. Both dredges worked short hours, otherwise the returns would have been onethird more.