OTAGO NOTES.

Star (Christchurch), Issue 7071, 12 April 1901, Page 3

OTAGO NOTES.

[From Our Correspondent.] DUNEDIN, April 12. Tho Hartley and Riley dredge is undergoing a thorough overhaul, and repairs are also being effected ito the Fourteen-mile Beach, Cromwell and Junction Electric dredges. The Molyneux is 3£ffc above normal. The Golden 'Star pontoona are not yet on tli9 claim, and thera is very little hope of their being floated down (before t-he spring. Tho troubles of ihe Richards's Beach G-old-dredging Company were laid before ithe shareholders at a meeting held last night. Tho object of the meeting was set out in a circuI lar, which stated Hhat tho directors regret to inform n'he shareholders titafc tihe efforts of the dredge to get into the claim (have met with so little siiccess that they consider it advisable to call the shareholders together to consider what is be3fc to bo done. The directors ■leave it to the shareholders to decide whether it would 'be ibotter to bore the claim or wind up tho 'company, without incurring further expense. In the meantime the dredge has ■been laid up until after the meeting of shareholders. The proceedings were- somewhat lively. It was stated that the erection of tho [ dredge cost £1200, and that there, were difficulties in the first place in regard to .Ihe elevator, which was run on slides, instead of rollers, and the slides wore out very quickly. In fact, the working of tihe dredge had been a run of .accidents. Going into liquidation was suggested, but eventually a number of shareholders were appointed to investigate, and confer with the directors as to what was I best to be done.