SHAREMARKET

Auckland Star, Issue 66, 19 March 1900, Page 2

SHAREMARKET

Tairua Broken Hill shares again noved upwards in price to-day on the Dxchange sales being made at 3/9 with :urther buyers left at 3/6. Maratofo shares also firmed, buyers offering 1/1 .vith no sellers quoting. Enquiry was Uso made to-day for b'our-in-Hauds at 2/6, Eclipse at 1/3, and Chelmsfords at 3d, but no sales resulted. A line of Waihi Extended shares changed hands it lld. Standard stocks had good demand at last- weeks quotations. IRONCAP. The directors of the Ironcap Company, Thames, have decided for the present to discontinue the work of j.x tending the low level and start sloping the Kaiser main reef at the low level, where it is believed payable, o-old exists. It is proposed to crush a targe parcel or ore at the New Alburnia battery, which is only a mile and a-half from the Ironcap mine. BUNKERS HILL. Rising has commenced, but so far no quartz lias been taken down. This work will now lie carried on with two

shifts, and a rise 12 feet in length will be carried up. Better progress has been made with the advancement of the crosscut, the ground being jointy the explosives are more effective. IMPEI.LAL. Development opcralions during the past week have been carried on with very fair results, and the prospects generally are of an encouraging character. The drive on the southern course of ihe Xo. 2 reef is being pushed ahead, and during the week blotches of gold have been seen in ihe (juartz broken. Thist, the manager considers very encouraging, inasmuch as there is a large, extent of reef unexplored. During the last few days a branch from No. 1 reef has been discovered on the surface in the United section. Excellent dish prospects have been obtained for fully .'3B feet in (length. The manager intends driv-I ing on the south course of the reef, j where he hopes (o meet with good results. MAROTOTO. I ! .Mr J. M'-Coinbie, managing director, reports that in the I'ay liock Section since completing the last section of !."> feet, the contractors have extended the No. 3 level six feet, and the distance | driven south of the No. I winze now is ! 102 feet. Here the lode is still hard to ' break, while the ore is low grade in I quality, but a steady improvement is i noticeable over the back of the level i and on the hanging wall side of the ! lodd. South of the No. I winze, over the No. 2 level, the leading stope has been carried along .iB feet, and the hanging wall lode, measuring IS inches in thickness, averages £3 per ton in ! value, for the whole of that distance. ! To-day a start was made with the ex- | tension of the second stope, north and south of the No. 1 winze, and good ore lis being grassed from both places. In I the Marototo section the contractors j for the construction of the main ore I pass to connect with the No. 2 level, Pay Rock section, have completed (53 j feet of the work, by sinking and ris- ! ing simultaneously, leaving 27 feet to be accomplished, The excavations and trestling for the tramline to connect with the main' ore pass are finished, and a start has been made to lay | down the sleepers and rails. At the ' new mill the whole plant will be comi plete in every respect, and ready for work on Saturday, the ,24th inst,, and, if the water supply is equal to requirements, a trial run with the machinery will take place on that date.