MINING.

Star (Christchurch), Issue 7417, 31 May 1902, Page 5

MINING.

MOUNT LYELL COMPANY. UniUd Press Association— By Eltotrio Telegraph-^Oopyrigli't. (Received May 31, 11.46 a.m.) MELBOURNE, May 31. The Mount Lyell Company will pay a oneshilling dividend on July 1. The reduction in the dividend is due to the low price of copper.

OTAGO NOTES. [From Ode Cosbksponsjbnt.l DUNEDIN, May 31. At the annual meeting of the Lady. Charlion Dredging Company it was stated that the company hadi lost close- on during the year. It had just made -a change of dredgomasters end the person now in charge said it would itake eight wjeeks to reach the shaft for which tlie <fced^e' was now making. One shareholder urged immediate liquidation, saying -the claim was worthless and that shareholders would prefer to save 2e 6d worth of uncalled capital rather ih*n- allow it- to follow the 17s 6d already paid up. The meeting of the Duke of Wellington Company was adjourned for eight weeks to enabltf the Secretary to ascertain if the shareholders were 'willing to take a share in a reconstructed company on a. basis of £2500. At a meeting of the Lady Roxburgh Company considerable discussion took place upon the action, of the directors in purchasing the Gold Queen dredge without having consulted the «hareholder3. Eventually the report was adopted, a motion to re-sell the dredge and go into liquidation being defeated. A Government expert has arrived at Cromwell to advise as to the |best means of removing the obstruction to Ihe Molyneux caused by the waterspout in April. The Chairman of the Golden Glen Dredging Company stated -that *ho gold won to date was valued. at £163, the calls in arrears amounted to £725, and the liabilities of the company came to £2485. The directors agreed to call a meeting forthwith with a view of considering ft resolution in. favour of liquidation. * Oh 'Change to-day Gentle Annies improved. « sale taking place at an advance of Is 3d on yesterday's transactions. The .satisfactory return from the Hartley and Riley* dredge had a hardening effect, three shillings in advanoe on yesterday's transactions being offered. Notowns were easier, owing to a report that the crown wheel of the dredge is broken. Shares in the Pactolua Company, which during the week could have been bought at 65s are now quoted at-, 715. I

DUNEDIN STOCK EXCHANGE. . [Pjeb Press Association.] ' DUNEDIN, May 31. Sales on the Dunedin. Stock Exchange — Alexandra Lead 4s 6d, Gentlft Annie 18s 3d, Gold King 4s 3d, Golden Bed 12s 3d and 12s 9d, Hokitika River 12s 6d, Leviathan (preference) 5s 9d, Olrig 245, Rwe and Shine 22s 3d, Unity l&s and 18* 6d.

DREDGING- RETURNS. [Pjut Pbess Association.] WELLINGTON, Miy SI. Dredging returns— Kohikohi SBos for 197 hours. - DUNBDIN, M«y 81. Dredging returns— Leviathan 490z, Four-teen-mile Beach 490z Bdwt, Three-mile GreenBtone 14oz, Gold King I4oz sdwt. Sailor s Bend 112oz, Great Woodstock 12oz 4dwt, Riao and Shine sOoz lldwt.

The return for the Ai Gold! Dr«dgingfo°mpany for the week was lOoz 6dwt for 119 hours' work, and -the Hokitika River Gold Dredging Company 82oz lOdwt for 120 hours' work.