The return of 1,234 ounces of gold from the Electric Gold Dredging Company for the week ending 7 July 1900 is seen here. In 2009 terms this would be over $1.7 million. Perusing the haul at the Cromwell branch of the Bank of New Zealand (BNZ) are Jas McGeorge (left, dredgemaster), Jack Johnson (dredgeman), I. I. J. King (BNZ ledger-keeper), Mrs G. H. Stephenson (shareholder), W. Vickerman (dredgeman) and J. H. Stephenson (BNZ manager, Cromwell). By 1900 gold mining was dominated by limited liability companies dredging gold or hard-rock mining. The capital requirements of these mining methods required large up-front investment.
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Te Ara - The Encyclopedia of New Zealand
Reference: David Grant, Bulls, bears and elephants: a history of the New Zealand Stock Exchange, Wellington: Victoria University Press, 1997, p. 71.
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