THE GOLDFIELDS.

Auckland Star, Volume XXXIX, Issue 238, 5 October 1908, Page 3

THE GOLDFIELDS.

SHAREMARKET. . A strong demand set in to-day for shares in the Waihi Grand Junction Co., and a fair-sized parcel was secured) at prices ranging from 34/6 to 35/3, with -still an unsatisfied inquiry at 35/. Waihi shares, on the other hand, sold at l£3/9, and Waihi £x;.endeds at 3/5, but in neither Instance did many change hands. New Sylvias were transferred at 2/6 and 2/7, and a sale of Tairua Golden Hills was reported) at 7/7. Talisman Consolidated shares were a shade better, being wanted at 42/, with sales at 6d. advance on that figure. A brisk demand set in the shares in the May Queen Mine, owing to what-may prove to be the most important development in the »evel in tha Queen' of Beauty section. Before the telegram with the news was delivered at the Exchange, sales were made from 2/3 to 2/7, and afterwards there was no further advance, the information having been apparently anticipated Investment stocks showed little change for the opening of the week, and the only sale reported this morning was in Kauri Timber .contributing issue at 14/.

OLD HAURAKI.

Negotiations are proceeding with a view to the purchase by the Old Hauraki Company of the Golden Pah mine, and it is understood there is every likelihood of the transaction being completed on a. basis of about six to one. As the Old Hauraki Company has 40,000 reserved shares, there will not be any need to increase the number of shares in that company.

TAIRUA GOLDEN HILLS.

At an extraordinary general meeting i of shareholders in the Tairua Golden '■ Hills G.M. Company, held this morning ! in Mr. W. Gray's office. Hobaon Buildings, ; the CharnnaifpToposed the confirmation ■ of th« following resolution, which was agreed to: —"That the capital of tho j company bo increased from £ 1 4,000 to £20,000 by the creation of 60,000 shares, of 2/- each, and that the shares result- ' ing from snch increase be numbered 14,001 and 20,000, and that such new Bharee rank, pari paseu, with the existing shares."

MAY QUEEN.

At the noon call shares in tho May Queen mine advanced from 2/3 to 2/7, and afterar&rde sold at 2/6. The cause of the demand was the following important telegram from the mine manager: '"Queen of Beauty mine level; broke clown the lode in the south drive. Quartz showing good dabs of gold. Lode looks well."

TALISMAN CONSOLIDATED.

In reply to inquiries made regarding pumping operations at the mine, Mr. Staasfield, the general manager, states that 6o fax one pump is holding the water below No. 12 level. He is informed that the water is still rising in the Crowm shaft, and until the water is stationary he. can say nothing definite in regard to holding it below the Talisman No. 12 level. In reply to the query whether the new pumping plant would take up co much room in the shaft that the development of the No. 13 level could hot be proceeded -with, Mr. Sfcansfield states that when No. 13 level is drained the pumps will not be in %he shaft compartments required for working tirat level. Hβ fuTther states that no change has been made hi arriving at the estimated ore reserves, end wh«n forwarding such" estimates to the Board, a plan iv attached showing j how tame are arrived at. Auckland \ shareholders are on exactly the same I footing as Wellington and London. The I fortnightly cables, fortnightly reports, I and monthly cable giving output and j costs are made public in Auckland, Wei- j llngton, and London as near as possible j simultaneously tErough the medium of j the Press, and this la the only informa-! tkin that is official as far ac his office is •' concerned.