Notes from Greymouth.

Otago Witness, Issue 2690, 4 October 1905, Page 29

Notes from Greymouth.

- l (From Our Own - Corrb'spoitoent.) I ' &BEYMOTTTH, September '26i>. The- Slab Hut Creek 'dredge, last 'week, -got ' 21oz" lOdwt for "120 hours..- In 'their annual report the directors state that actual dredging to open up the paddock , begun on May , 22. Since then steady and payable return? ; lave been won. As anticipated, working ex- f pensss have been very small, due chiefly to the dredge working on cleared ground, cheapness- of fuel," suitability of the spoil treated, ' and; the care exercised by the company's entire staff, so that although the returns won to date have not been large, +he direc-tors-have been able to disburse the sum ,of about £560 from profits, -equivalent to about 2s 3d • per ' share, and including "the annual payment of a dividend of Is per share. If the returns continue satisfactory, the direct -tors 'hope to complete the' purchase of 28 acres of freehold on wnich^ the dredge is operating during the present' month, ancj the company^ •will thsn~"be free of all debt, and, with a. total area of about 130 acres 1 to dredge, have sufficient for 10 to 15 years' steady work. The' v prospects before the company are good, even on the present returns. The dredgemaster anticipates striking richer ground as the dredge - progresses, in which ca.se the directors believe steady dividends will be , the ' rule. The ' directors have in mind the necessity for the creation of adequate reserves 'for any contingencies that may arise ; and, working to- that end, the company ■possesses an capital of £135 (only 18s per share having been called up), which of itself forms a nucleus of a fitting reserve. The- gold' won to date has been 2470z lOdwt 4gr, .an-ayerage , of "about 22£oz per washing. • The mine manager for'_the Garden:,. Gully Company report's vas vfbllows for- the week, ending .September 23 :— " The 'greater .portion of work done 'this week is of -a preparatory nature; taking out the excavation for an" iore .bin at. the mine and excavating for the.j aerial^istandards . and trestles.*" The lowerterminal is" now in position, and', will be completed to-day. The contractor" intends completing the dismantling of the Crossus- aeriai material before_ lifting the treaties here. He Jias' the -whole " of his- staff working on the ■aerial contract,' and owing to favourable •weather is making good progress. October 1. The dredging returns on the whole are good, ! •nd in each instance should pay working expenses. The share market last week was practically non-existent, the only inquiries being for quartz shares. The Pactolus dredges are again io the fore j with a yield of 1570z lOdwt, of which ]STo. 2 "got 113oz. The larger machine was on a splendid run of gold, the lead being confined and thick, with every appearance of continuance. The face on which the No. 1 dredge is ■at work does not show much alteration. The tight nature of the wash at times severely taxes the capacity of the dredge. The Jamieson's Eeward return of 720z for j 115 hours was an agreeable surprise to locil j shareholders, who. knowing that silt had been ! encountered in the early part of the week, ' expected a smaller yield. The silt, however, did not prove troublesome after Tuesday, from ■ which time the lead was woiked on. Appear- i aiiees at present indicate that the lead will continue for a good distance ahead. The No Town Creek dredge got 41oz. The ■wash is still tight, with a little timber. Ths return from No. 2 dredge is net known, but is not expected io be much. Callaghan's Creek dredge obtained 330z gdwt for 122 hours' clear run on a nice pieco of wash, with the gold evenly distributed throughout. j The Bignell's No Town dredge got 270z 15dwt for 114 hours. The wash is rather tight I towards the northern side of the face, but r-n f improvement is taking place on the souths /i ] fcalf. / The return of the New Trafalgar dredge .of !3c<z was '.somewhat of a disappointment. Of course, a good deal of silt was brought :.elown by the freshets in the creek, and had iito be contended with. This is probably the cause of the sjnallness of the yield. I am*

however, as firm in my belief as ever that this claim will ultimately turn out to be one of the most payable on the coast. Other returns are: — Amikitea, 250z, for 120 hours; Kohikohi, 13oz, for 116 hours; and Reeves's Proprietary No. 1, lloz 14dwt for 115 hours. The Blackwater River dredge is engaged in putting in new poppet heads and effecting ether repairs.