SHAREMARKET.

Auckland Star, Volume XXXIX, Issue 177, 25 July 1908, Page 7

SHAREMARKET.

THAMES DEEP LEVELS. UNITED ACTION TO GO DEEPER. Once more an attempt as being made to get all the companies within the Thames drainage area to combine in one comprehensive scheme to test the deep levels thoroughly. The May Queen Company, aided by a Government subsidy, has now got down the Queen of Beauty down to nearly 1000 feet, and there is a desire that . combined action should be taken to develop even deeper, if necessary. A meeting of ail the directors of companies carrying oa operations within the drainage area has been called for next week at the office of Sir Sheath, NJZ. Insurance Buildinge. The idea is to thoroughly discuss this important matter, iwkh the object of formulating a scheme under which all will contribute towards the cost of developing the deep levels and join in any benefits accruing from the work. It will be remembered that some years ago, as the result of a combined action, bores were put down to a depth of about 1400 feet, and it Was then proved that below the barren stratum at which the operation ceased in the early days, good andesite country exists, In ■wliich it is reasonable to expect that gold-bearing reefs will be found. The history of many other goldiields has been that a second gold-bearing zone was discovered underneath the barren country at which operations were at first suspended, and there is every reason to hope that the judicious expenditure of capital will have similar results at the Thlames. THE WAIORONGOMAI MINE, LTD. Mr. C. J. Hutehinson reports having completed the flotation of the above company. The Ferguson Mining and Smelting Coinjjiiuy, jjtd., have taken up a large block of these shares. It should be very valuable to this company to be thus able to work in connection with the smelting works at Waiomo. As soon as the Waiorongomai Mine, Ltd., is legally formed, work will be promptly started. A good deal of ore can be got out almost at once, and thus bring in some returns without cieinjr', and, at the same time a 500-ft. tunnel will be started which will give 400 feet of backs, aud intersect four large reefs on this portion of the property, all of which have shown good values. The county tramline, which passes the mouth of the tunnel, will carry the ore to -within half a mile of the "river, whence it will bo sent by barges, either as ore or concentrated, direct to the works at Waiomo. In addition to the 43 acres on • which this work will be undertaken, there will remain for a future time G5 acres, which contain other large and valuable reefs, which will give, when worked later, fully 700 feet more of backs. The capital of this company will be £25-, 000 in 100,000 shares of 5/ each, of which 20,000 have ba?n subscribed with 1/ paid up, ana after allowing 15,000 Bhara to the vendor, there will remain 05.000 reserve eharcs. which it is intended to place on the Exchange as far as is necessary when funds are required, and thus avoid the necessity of making calls. As this company will work in connection with the new smelting works, it will be saved the outlay for any plant, so that it is estimated only a vr?ry small proportion of the capital will have to be called up, and that with arrangements which thus ensure quick returns for or,?, won, an exceptionally short time should elapse before the mine is remunerative, especially since much of the ore is rich pncv.itrh to go straight to the emelter.

BUSINESS DONE— 'Golden Pah aia Talisman Consolidated ..,.".*.*. 4S/ Grand Junction ' 33/ Vjo/n ' nom ■New Zealand Crown......: -, A New Zealand Cement ".!".?"'. 24/6 STANDARD STOCKS— Bank of New Zealand BUy i r& National Bank 1<H/O '.'. — New Zealand Insurance 7G/0 *' 75/0 National Insurance .... 2S/C "' "7/O South British Insurance 57/0 .'." _ Standard Insurance ■>-.//; " <*> /n N.Z. and Olver Plate E/3 !! 30/U Hlkurangl Coal _ JImJ Tauplrl Coal 10/0 18/0 Wcstport Stockton 9,0 ' Drnry Coal (p.-c-f.) J? " o 0/0 Drury Coal (cont.) 4/n "" " 3 Wj Auckland Gas 310/0 .. 3OT/0 Blrkeiihead Gas 2G/0 _'" Union Steamship """ '" m«j Northern Steamship (p.u.) 17/0 ." _ Devon port Steam Ferry.. " -in in Kauri Timber (cont.) 12/0 '.'. lino Parker, Lamb <w /Q ,/-,., urkieh Baths ojj/y Auckland Tramwaye (prof.) 2n/C' .! 22/0 Auckland Tramways (oril.) 22/0 22/0 Frank Harris Co 23/0 '' — D.S.C., Limited 5/1 '.* 4/n Grey and Menzles (cont.)-.. S/0 '•' 8'!i Hill and Phimmer ..,. 21/6 .! 2C/0 Theatre and Arcade Co. (pref) 20/0 .'.' — Theatre and Arcade Co. (ord.) 1S/C Milno and Choyce, Ltd. (pref.) 23/6 '.' — New Zealand Drug ,, 50/G New Zealand Cement 24/0 ' *>4/3 Now Zeala.*l Pnper Mills.. 2J5/9 Wiseman and Sous (ord.).. 13/C '.. 12/10 MINING STOCKS— Sellers. Buyers. Kuranui 0/C .. 0/4} Kunuiui-Caledonlan 0/11J.. 0/9J Slay Queen 2/4 .. 2/3 New Moanataian 0/7J '. . 0/0 Now Monowai 0/0 '.'. O/GJ NeT\- Sylvia 1/3 .. j /(! Old Alburnia (p.u.) 1/3 1/0 Saxon 0/11.. 0/«J ■Scandinavian 0/5 0/2 Southern Queen 0/B .. o/S* Thames 0/7 !! C5* Victoria 0/10 .. 0/7 Waiotahl 0/8 .. 2/7 Waltangl 4/G .. 4/1 Consolidated Goldflelds l.yti .. 1HAI Progress Mines 11/XJ .. 10/G Blacltwatpr 24/0 .. 22/6 Golden Pah 0/5 .. (U4 Haurakl Freehold 0/5 .. 0/3j Old Haur.ikt Mines 1/11 .. 1/9 Old Knpausa 0/3 .. 0/11 Tanpriaro (p.n.) _ .. i/s Tan-flaro (cont.) 1/10 .. 1/7 Comstock 0/5 .. 0/3 Champion (p.u.) 6/0 .. Champion (cout.) 5/0 .. 4/3 Crown 5/4 .. 5/3 Dominion (cont.) 0,Ti .. n/4J Golden Belt (p.u.) 1/11.. — OoUlnii rielt (cont.) 0/'.)J .. 0/7.1 Golden Cross 0/G .. 0/4} Klrllilri (cont.) 0/7 .. o/:s Karnnsahake 0/0 .. 0/7} Koran tn Ueofs 1/3 .. y\ Mnorilamd 0/5 .. 0/3 Xew Waiteiiauri 0/G 0/3 Phoenix (cent) 0/lfli.. O/S)} Heady Bullion (cont.) 0/5}" 0/4 Silver Hills 0/4 .. n/3 Tflinui Broken Hills 3/0 .. 2/t) Talrtltt Conqueror (cont.).... 0/7 0/5} Talrun Triumph l/;j .. g/lj Tiiirua Golden Hills 4/0 .' 4/7 Tnlrun Eytendt-d 0/fiJ ,. 0/5 Tnllanuto Consolidated 4S/3 ,. 47/t) XV'alhl 18C/C ..1S.V0 \V;U!iI Ilencli 0/8 .. 0/7 Walhl Consolidnted 2/3 2'0 Wnlhl lixtended 3/t) '' 7^/-? Walhi Grand Junction 22/9 \\ 30V3 Mountain King (cont.) \\ qu Autlmony 0/7 " o/4* SUotorer 0/5 '' 0/4