MINING NEWS WAIPAPA BEACH. GOLDFIELDS DREDGING, LTD KING SOLOMON. NEW GUINEA GOLD SHARES PRICE OF GOLD INDUSTRIAL RESEARCH SUN INSURANCE THE TIMBER TRADE.

Evening Post, Volume CXX, Issue 12, 13 July 1935, Page 12

MINING NEWS

WAIPAPA BEACH.

GOLDFIELDS DREDGING, LTD

KING SOLOMON.

NEW GUINEA GOLD SHARES

PRICE OF GOLD

INDUSTRIAL RESEARCH

SUN INSURANCE

THE TIMBER TRADE.

ALEXANDER MINES

Alexander Mines reports Cor month of June: —wo. 3 intermediate level north: This level has been extended 20 feet on fault line, the lace showing boulders oi stone up to one foot in wiatn. No. 4 south drive: Very little driving has been carried out here, owing to taking oft" the leading slope interfering wttn the. working of tne level. The lace is now in reef track with occasional boulders of stone showing. A winze has been started on the 'north end of this block and is down three feet. The.reef is very hard and is wider than the wiiize. No. s'crosscut: The contractors for the month have driven 129 feet, making the. tottil from surface 333 feet. The country is good-and has a westerly underlay, all the country in the higher, levels being easterly. Sloping is being carried on in No. 4 backs south and below the intermediate. Stone is also being taken out .on the south end of McVicar Block, below No. 3 level. This'stone appears to live down only about 7 feet below the level. During the period. 314 tons were sent to the battery, and 324 tons crushed for a return of 118oz 2dwt of m'elled gold. The cyanide department for the same-period1 treated 225 tons of'sands for 340z sdwt of bullion. The concentrates roaster produced 370z 5 dwt bullion. Total value £1270. In addition, 8.74 tons concentrates have, been saved, valued at £275. In all the above estimates, gold has been taken at 145s per fine ounce. ,

The Waipapa Beach Gold Dredging ■ Company, -Limited, Southland, has been ; listed by the Dunedin Stock Exchange. , The company has a capital of £ 10,000 in shares of Is each. ; 1 MAHAKIPAWA. ' Mahakipawa Goldfields, Ltd., reports for week ended July 10:—From the south end of No. 2 blocking strip arch drive has been started about 3 feet above floor of drive. .This is still being driven on an up grade so as to keep in the wash, which has risen- 8 feet in last 60 feet. Bottom is still hard and worri> smooth, providing very poor j catchment .for. gold. Wash on eastern side of this drive', appears lower than on the other, side, so' the drive has been turned "slightly , niorc east. Co-! ordinates of-this face" are now 1500 ft! south-by 124 ft west, and it is heading I in a south-easterly direction, approximately parallel to old drive, but at a distance from it of 75 feet. Seven feet back from the south end of No.. 2 blocking strip, aicrbsscut was driven for 11 feet in a westerly direction/before hitting western wall/when itwas stopped. There' was' a gradual rise throughout the. 11 feety then-bottom, rose up much more quickly and colour of .wash changed to brown, indicating that this was the wall. A blocking strip has been taken out along the east side of north blocking strip from Bft to 25ft north oC'west crosscut in "poor grade wgsh. South-east drive extended to 20 feet. Until development work is completed there will be no wash-up. SALES OF SHARES. Business in mining and dredging shares transacted this week has been reported as follows: —; Blackwater, 30s; Big River, 2s 3Jd, 2s 4d, 2s 2d, 2s 4d. 2s 3d. Goldfields Dredging, 2?. d, 3id; Golden Dawn, 2s 3d. Kildare. 3s; King Solomon. 3s Bd. 3s lOd, 3s 9d: 3s lid. Lawson's Flat, 4d, 4id. 4d. Mossy Creek, 2s 6d; Mount Morgan. 375, sd, 37s 4d, 37s 6d, 37s sd, 36s 9d; Maerewhenua, Id. 1-Jd; Maori Gully, 1.5 3d, Is 2id, Is 2d; Mahakipawa, 6Jd; Mataki, Is lOd. Okarito, 6s, 5s 9d. Placer Development, £33 30s. Skippers, 2id. Talisman Dubbo, 10s 6d. Waipapa Beach. Is 4|d: Worksop Extended, 2s 4id, 2s 4d, 2s 7d; Waihi, 375, 36s 6d, 37s 2d, 375. 37s sd, 37s 3d. Unlisted:—Argo Gold, Is sd: Is 4Jd, Golden Crown (Is paid), 7s lid. 7s lOd, Bs, 7s ldd, 7s 9d, 7s 6d, and (lid paid). 6s lOd, 6s 8d; .Loyal, 20s; New River (9d paid), 3d. ... -.

.(By..Telegi'aijb-r-Pi-ess Association.)

DUNEDIN, July 12.

The claim manager of the Goldfields Dredging Co., Ltd., reports a wash-up of 13oz 18dwt for 256 hours' dredging.

(By Telegraph—Press Association.) ; INVERCARGILL, July 12. The return at King Solomon Mine this week amounted to 520z ldwt.

(By Telegraph—Press Assn.—Copyright.) (Received July 13, 11 a.m.) LONDON, July 12. Sales.—New' Guinea Gold, 4s Id.

(By Telegraph— Press Asisn.—Copyright.) (Received July 13, 9 a.m.) LONDON, July 12. Price of fine gold per ounce, 140s lid.

The Mercantile .Gazette reports 'registration', of- - Kelvin Industrial Laboratories, Ltd.. Wellington, as a private company. ■•. 'Capital: £ 2000 into 2000 shares of £1 each. Subscribers: Auckland—E. Anderson 100, P. Cropper 100, D. L. Nathan 100, Stacey and Hawker, Ltd., 100. Christchurch—C. H. Hewlett 100, J. H. Hewlett 25, H. E. West 115. - Wellington—S. Paterson 100, G. Shirtcliffe 150, E. W. Ackland 100, A. E. Lorimer 10, A. E. Aldridge 1000. Objects: To commence and carry on the business of conducting an industrial and research laboratory and general incidental.

On April 7 the Sun Insurance Office, London, reached its 225 th year in business. It began in a room in a colTco house, near St. Paul's Cathedral. It possessed no capital in cash or investments, but was a co-partnership of 'M members, who divided all profits and shared all losses among themselves.

Fire premiums last year amounted to £2.337,812. In the accident section premiums exceeded £1,750,000. Total funds on December 31 last amounted to £7,789,675. .Net income from investments for 1934 at £253,000 compared with £110,000 at the time of the Sun's bicentenary and £126,000 in 1919. .

The values of New Zealand's imports and exports of timber during Mayare reported as . under by the State Forestry Department:—

Imports.—From Australia, £15,704 (including hardwood- £1280, ironb'ark £9418, sleepers £4069); Canada, £1913 (including Douglas fir £1470); U.S.A., £1574 (including • radwood £804); Lithuania (ash, hickory, or lancewood), £729: Japan. £165; others, £483.

Exports.—To Australia, £39,549 (including rimu £7119, white pine £26,724); United Kingdom, £1145; Pacific Islands, £581.

Per oz. ■ " . s. d. JuJy 11 140 8 July 10 140 11 July 0 ,..:.-.. ..: 140 7 JuJy 8 140 0. July 6 .............. HI 0 July ? ■...■..■.....';,... 140 11 JuJy 3 Ml ; 6 July 2 ..;....;...... 141 7 July l .....;. ■,. 141 4.\ June 1 '..; 142 0' May 1 ;......... 145 0 April 1 .....'......... 145 8i March 6 (record) ■.... 140 4 March. 1 . x ........ 145 1 February 1 .......... 142 4 January- 1, "■-.■ ...... 140 lOi