MINING NOTES.,

Star (Christchurch), Issue 7589, 24 December 1902, Page 3

MINING NOTES.,

Tihe secretary of tho Al Goid-ckedgiEg' Company reports a, rotuin. of £26z £ox 180 hpuxs-v worK. " . . Tie secretary of the Beeves's Proprietary Gold-dredging C^nipariy reports a xetUrn. of 330z far ia7 'Hours' work. Thei "Otago -IJail-y Timps " ; states tiha;t the Hartl-ey i-a_i*a. ; Biiioy Company has no intenit-on , of purchasing the Central i-'lect-ric Coanpany's i dredge. Ajrangemonts are bc^ng miwle i'or oi- ' tanauona in tihe conipany's preseab dredge. A new engino h®3 hg-ea T procured, tvnd the '4-adder ' wiil bo itingthened in -order to a'liovy- of -be'lfer ' -wxsrk being done. r At a special meeting of the -Golden EiJhPW _ C^ltl-dredging Company, i'fc W»s -reaojyed 'that ' the oompaiiiy should' go into liquidatioh 1 and a new"ocMn.piny shoula be -fofme-a, with, a capi- . tel Oi £20QO. ' ' '■•'- '■ v • "TJie BHidigo Goid-dredgkig -Opnipany nas \ gono into 1-iquidation, witlfi a view to reconL aiiuc'-ion. A p&npMiy "called the Ifew 'Ben- ■ digo Gold-dredging Compiajiy will be -formed [ on the. 'lines of a Kih^'e suggested by a •speciai committee." %%e "repq*t "^ros^n'fced by Uv> oomxoittee 'swxl adcpted'by t§© _K'__?_lhoi4er*s 1 . &3 tho biiis oi reconstructicmV rwommended > that' 2203 -paid-up shares, oi the vaiue of £1 . each, should! -be givea. tp the present sharehioLiieTs in con»id«r ation ol their int*erest ' an 5 the'cTam-.' an-5) "-thai "dlpu^le"tlhat "lrumiber (4400) ' coniribiiting «hare^ 'should be i&sued'. At I first it was thought that' it -would be well to issue shares at lis each, but, after diEcusaicg and consideration," it was tihought that £3300 wouldl he (rather small a capital to work with. It was thought better to issue _jha*ics« at £1 each, a-nd- to oaU up -the money, and, if they ha"<s more th-am igt-(ficien.t, to provide ic? *lhe dredge and 1 pay the ba3a,nce could ' be isirt aside as a reseeve. Tfee sdhehie pro- ; posed!, ther-sfore, was that 2200 fiharte s^.pxd-d be givepi t-o the present ©hareholdiets— -that is, ' one flhaTflfor ev«ry %\e— -and thai 4400 shares ' should be offered to these shareholders— #at *■■ is, two shares for every one share given, them. . Thait was to aay, ome' pa-cL-up _ihaTe for every I five' held, as the purchase of the claim, and i, two for every five ■held, ' as icontributing shares. ' A person ho.diing twenty-five > gat five shares given- ' to him : audi ' Wo-iiliJ 7 pay. £10 for ten t'haiies. T'he imtenti-oni wasj to 5 make' application, inoney -5s per share, ahot- . meiit money 'j>s» p-er -hare, ihe balance to be- , called iip by instalments* 'of hot less tham 5s per mon tih. ' '