NEW GOLDEN EWER GOLD DREDGING COMPANY.

Otago Witness, Issue 2686, 6 September 1905, Page 27

NEW GOLDEN EWER GOLD DREDGING COMPANY.

The annual meeting of shareholders of the New Golden River Gold Dredging Company was held in the Stock Exchange Buildings on Thursdsy evening. Mr H. E. Wilson (chairman of directors) presided It was agreed that the report (already published) and balance sheet be taken as read. The Chairman, in moving the adoption of the report, said that trouble seemed to have followed them since the inception of the company. The dredge required more in the way" of repairs than was anticipated. Then the working of the dredge in the gorge was pretty costly. Coal was an expensive item, and wages were higher than in other places. They regretted the loss by drowning of one of the crew (Mr M'Gregor). No one seemed to be . responsible in any way for the unfortunate occurrence. The local director had been untiring in his efforts for the good of the company. In his latest report he said the prospects were improving, and the dredgemaster thought they might get on to steady gold. Mr Woodhouse was now their dredgemaster. Taking into account the outstanding calls, and allowing for all known liabilities, they had about £172 to go on with, and they hoped before that was exhausted they would have something to show for the work done. The directors had given the working of the dredge considerable thought, and had done all they possibly could to snake it a. success. Mr T. Glendining seconded the motion. whicE~was l carried. Mr Wilson read portion of a letter from Mr Ross stating that the dredgeniaster thought, from the prospects he had got, there should be gcod gold a little further upstream. Mr Wilson saic"Ka pinion had broken, and they had arraugedMo get another. This had been sent on, and the dredge should be at work by this, time. Mr Thos. Stsel was re-elected a director, and Mr E. E. Smith auditor. Mr W. F. Sligo moved a vote of thanks to the chairman and to Mr Glendining for the way they had worked in the company's interests.—The motion was carried.