MINING NOTES.

Star (Christchurch), Issue 7605, 15 January 1903, Page 3

MINING NOTES.

Tho directors of the Prince of Wales Dredging Company havo decided to otiehair of the debentures recently issued by tiliem. T'ho debentures •and interest ■will be payable at the company's office, Ross, on Feb. 4. Tho master of the Rise and Shine Company's dredge reported on Monday that . the alterations and repairs wor& taking up ihore time than ho expected, but ihe hcf/cc! to start 'dredging before the end of the week. Th? annual repcrb of i'ho Malau Gold-dredg-ing Company states ihat tho weekly returns frequently loft on!y a emiull margin of profit, end an scrao insSances did not cover expenses. The dividsoids declared w«ra loss than last year, being 3s Gd ptir sfoare, a& against sg ; but the recent yields -were mora sat'i&fac'ory, a.nd profitable remits wore anticipated from tho present cut along the eastern boundary of idin claim. The reserve fund in the Post Office Savings Bank li-ad been increased dxiriag tlio ye-ar by n. further deposit of £100, and a- sum. of £583 14s Sd had been written off tho dredge and machinery account. The dredge had been kept in good repair, a.rd the cl&vator had been put iato working order, 'but, -while the river maintained its pre-sent height, operations ccukl bo cn.rricl on effectively without tho bm of iho olevator. The total expenditure for ti'ia year was £2780 1&3, or «n average of £53 9-. 6d pnr woe!:. Tbo baianice-rdieet ©hows that the go.d account was credited during the year v.-:tii £1161 os 10a.