THE PERSEVERANCE GOLD DREDG-ING COMPANY.

Otago Witness, Issue 2734, 8 August 1906, Page 26

THE PERSEVERANCE GOLD DREDGING COMPANY.

The annual r*—--ting of the New Perseverance Gold Dre. ng Company was held in • the secretary's office, 7 Liverpool street, on the 31st -jit. Mr J. C. Short (chairman of directors) presided, and there were seven t other shareholders present. j In moving the adoption of the annual ie- ' port ajid balance sheet (already published), the Chairman said that, together with Mr Greig, he had visited the company's property, and they were quite satisfied it was in capable hands. The dredgemaster took a keen interest in all the company's affairs, ' and appeared as much concerned with their welfare as the largest shareholder. The ' chairman was sure shareholders' interests ' were being well conserved from this standpoint. From the examination made of the claim, everything appeared to be in apple- ' pie order. It was satisfactory to know »hat the cost of working since the office had b©en ' in Dunedin had been noticeably reduced. The speaker concluded by referring to the good work carried out by the late pnsin-jcr , Mr Stark.

The motion was seconded by Mr A. (Cilspur and carried.

Mr P. Corliss asked what reduction Lad been made in the cost of running the dredge. The Chairman said the cost had been materially, and was likely to be still furthei, reduced. It was now equal to something like ISJoz per week. The banks offered payaVe results for some time, but it would be nee- js»ry to have the machine put in order to d a! With thenu

Mr Corliss: "What is the difficulty regarcLv r - the pontoons? The Ohairmtn^aaid the pontoons were not worn out, but in working high banks longer elevator was required, with a consequent strain upon the pontoons. There was, £600 iv hand towards this improvement.

Messrs A. G. Fenwick and A. BLilgour were re-elected directors, and it was resolved — "That the remuneration to directors be tLe lame as last year, but the meeting recoup tuends that if the year's wort be satisfactory !

the directors be given a bonus at the end of the year."

Mr E. R. Smith was re-elected auditor at the usual fee.

The meeting closed with votes of thanks to the master and crew, and to the chairman for presiding.