SUMMARY OF DREDGING RETURNS.

Tuapeka Times, Volume XXXIV, Issue 4894, 25 September 1901, Page 3

SUMMARY OF DREDGING RETURNS.

The following table compiled by the "Otago Daily Times " shows the gold returns from the dredges in Otsgo whose returns are made public since the beginning of the present year, with the return for the corresponding week of last year : — 1901. 1000. Dredges Oz dt gr Dredges Oz dt gr Ist week .. 14 293 3 1 9 239 13 3 2nd week.. 22 532 9 15 25 813 18 9 3rd week ..29 617 19 15 32 1021 3 13 4th week ..31 722 11 9 37 1197 1 0 sth week . . 39 823 4 6 35 902 312 6th week . . 34 829 14 14 29 693 023 7th week .. 42 1027 1 0 31 774 0 18 Bth week ..43 994 022 28 893 17 0 9th week .. 42 1153 1 14 37 1026 3 7 10th week.. 48 1604 15 3 32 944 8 14 11th week .. 41 1417 12 22 34 1251 13 7 12th week.. 40 1347 14 1 32 2074 15 5 13th week... 44 1608 0 18 34 1572 10 7 14th week.. 47 1644 9 4 34 840 812 15th week . . 49 1713 17 12 32 TOO 1 3 16th week.. 4S 1041 13 9 89 953 11 6 17lhweek.. 39 823 15 22 85 1235 7 19 19th week.. 49 1108 7 16 36 ICO2 10 5 20th week.. 53 1409 16 19 38 920 0 9 21 B tweek.. 39 768 16 3 36 1103 13 4 220 d week 42 861 10 17 29 657 0 7 23rd week 43 726 16 13 32 1115 5 2 24th week 34 597 320 34 1408 17 13 25th week 34 642 420 30 1350 12 2 26th week 35 774 14 0 36 1136 1 17 27th week 35 759 10 17 32 954 18 5 38th vreek 45 1022 15 10 33 2284 18 11 29th week 50 1182 112 31 1765 IS 12 30lh week 55 1762 10 15 30 1503 18 18 31st week 61 2079 621 36 1041 15 11 32nd week 67 2364 17 16 38 1369 16 7 33rd week 65 2175 13 10 44 1669 3 2 34th week 63 2611 0 9 38 1373 8 0 35th week 64 2453 510 38 1411 13 6 36th week 62 2298 312 36 1703 10 14 37th week 59 1599 016 36 1970 5 9 38th week 67 2049 819 42 2407 0 3 39th week 62 1784 9 8 40 1958 17 0

Total . . 49,227 19 4 47,325 18 3

Following are tbe returns for the week ended Monday, QBrd Instant ; — Oz dnt gr Electric ... - ... ... 209 0 0 Clyde 142 0 0 Cromwell . ... ... ... 79 2 0 Golden Gate 76 12 0 Monte Cbristo ... ... 60 10 0 Golden Bun 46 4 0 Electric Extended ... ... 48 5 0 Earascleugh No. 2 ... ... 39 16 0 Olrig „ 37 11 0 Gold Queen ... ... ... 36 3 0 Waimumu Central ... ... 34 10 0 Perseverance No. 1 ... ... 34 0 0 Otago 32 0 0 Vincent Extended ... ... 32 0 0 Waimumu Extended ... ... 31 12 0 Teviot 31 7 15 Golden Gravel ... ... ... 31 0 0 Alexandra Eureka ... ... 30 0 0 Empire (2 dredges) 29 16 0 Perseverance No. 2 ... ... 29 518 Earasolengh No. 1 ... ... 27 16 0 Naumai ... ... ... 27 9 0 Central Mutants. No. 2 ... ... 27 6 0 Matau „. ... 26 0 0 WaikaVa United 26 0 0 Magnetic ... ... ... 25 0 0 Unity 21 8 0 Central Charlton ... ... 24 7 0 Alpine No. 2 23 5 0 Success !)••• — — 23 010 Molyneux Hydraulic ... ... 23 0 0 Golden Treasnre ... ... 23 0 0 Charlton Creek 22 10 0 Beliance 21 18 0 Inch Valley 21 0 0 Spec Gully ... ... ... 19 8 0 Lawrence ... ... ... 19 0 0 Cairnmuir ... ... ... 19 0 0 Golden Bed ... ... ... 18 15 0 Chicago 18 0 0 Waimumu ... ... ... 17 13 0 Happy Valley ... ... ... 17 11 0 Meg and Annie ... ... 17 7 0 Celtic ... ... ... ... 10 O O Fourteen.mile Beach 15 6 0 Duuatan Lead IS 10 0 Gabriel IS 5 14 Shepherd's Creek ... ... 13 1 0 Central Electric ... ... 13 0 0 Alpine Consols 12 It 8 Golden Link ... 12 10 0 Long Valley ... ... ... 12 0 0 Golden Beach 11 6 12 Enterprise No. 1 10 14 0 Majestic 10 11 0 Waikaka Queen 9 5 0 Dunback ... 8 12 0 Inchdole ... ... ... 715 0 Sixteen-mile Beach ... ... 713 0 Central Mataura No. 1 ... ... 6 3 9 Great Central 8 17 18 Total ...1784 9 8 Golden Bun (pipes) ... ... 27 0 0 WEST COAST DBEDGES. Al 41 5 0 Mokoia 38 15 o Nelson Creek ... ... ... 38 o o North Beach 23 o o Pactolua ... ... ... ]9 10 0 Abauraßiver ... .., ... 38 14 o Maori Queen ... ... ... 14 11 o Ford's Crejßjc ... m ... U 712 Enckson's Benard „, „, lo 16 o Greenstone Creek , ,„ 9 3 o Grey Hirer Consolidated ... 6 o O

The Golden Crescent Co. washed up yesterday, the result being 60oz for a fortnight's work.

A gentleman was recently advised by ft friend to buy gold shares for which a substantial rise was predioted, but before following this advice he took the precaution of wiring to one who had special facilities for knowing the proßpeots of snob shares, for his opinion. This gentleman wired back " Certainly not— a bad speculation," at least that was how the telegram was read, and aB a natural oonsegaence, the Bhares were not bought, Conceive the mortification of the intending purchaser when, within a week, the shares had almost doubled in value, and when he found out that the telegram he ie> oeivfid should have read : " Certainly. Not a bad speculation." A full stop after " certainly " would have put a few hundreds in his pooket. A miner found a nugget of gold at Ebangoola, Queensland, weighing 181 b. The Champion Gold Mining Co. (Limited) obtained lOoz 2dwt lOgr of gold for last week's work.

There is a likelihood thai the dredge whioh is to be pat on the Champion Go.'s river claim at- the Beaumont will be. worked by O'Brien's patent. The company have all the requisite water for the purpose and, con* sidering the saving that principle of working means, it naturally follows they will avail themselves of their advantage. > It was stated yesterday during the hearing of the application with reference to the JntlaniCo., Waipori that U was Intended to work the dredge by O'Brien's patent and that (here was every confidence the innovation will be as sucoeßsf ul as it has been in the two previous instanoes. As the dredge will be a large one the saving of the company will be very considerable. The " Star " has compiled a table of dredging companies from statistics extending over the past two years, which shows that during that period 61 publio dredging companies went into liquidation. Their aggregate nominal capital was £515,400 and their loading £66,850. The money for distribution from mauy of these after they had gone through the liquidation mill was nil, whilst from a number of others the shareholders received from 7d up lo 7s. Having completed his undertaking of patting the wreckage in some kind of melanoholy order, the tabulator pio^

oeeds to meditate and says: — It is not an easy matter to estimate with accuracy the amount of money actually lost in the abovenamed companies. Iv the first plaoe, the grand total of £515,400, representing the gross nominal capital of these defunct companies, must be reduced by deducting the loading capital— namely, £65,850. This leaves £449,550 as the amount at stake had the whole of the Bhares been fully paid-up. Only £276,620 was aotually called up, however, and of thts amount a large percentage was never colleoted. It is very diffioalt to compute what refunds were made out of liquidation proceedings, as many companies mra reckoned to possess assets in shape , ol tnaoninwy, pontoons, and other dredging I paraphernalia wbloh they look forward lo disposing of and paying 6ome dividend in the remote future. We should be perfectly safe, we think, in putting down the hard cash aotnally lost in the 64 companies comprised In this list at not more than £150,000. The 64 defunot oompanies named represent about 16 per oont. of the total that were floated. Probably another 16 per oent. will join their battered ranks within the next 12 months, attic yrhiah too paWia, relieved of HabiUCy, will oommenoe to breathe more freely.

The crew on the Great Central dredge have been discharged, and a caretaker is being plaoed in charge of the dredge. The Waihi Gold Miniog Co.'s return for four weeks ended September 14 shows that 12,880 ton's of ore were treated for bullion valued at £38,350. This is the second largest return in the history of the company. The Arrow correspondent of the " Daily Times " wired as follows on Monday :— The Arrow Junction dredge xeßnmed work this morning. It ia supposed the dredge will follow up the gold proved to exist in mid-stream, instead of trying the bank of the river. — The Kawarau Bridge dredge is shut down owing toaohaDge of dredgemaster and orew and repairs to winch.— The Galvanic dredge has started work with a complement of men from Cromwell, all certificated. — The river is keeping fairly low. — All miners on the Eawaran are nnanimons in their opinion that considerable quantities of coarse gold are lost by most of the Kawarau dredges through there being no means of saving it, the screen paying it back into the river.

During the past nine months shareholders have received £46,741 returns on their investments. Twenty-nine dredges, with a total nominal capital of £228,476, yielded this profit, and if calculated for the 12 months on the above basis, the interest thereon would be 25fc per oent. — This, of course, includes only the comparatively small number ot paying dredges. No aeoonnt is taken of the flotilla that paid nothing.