THE GOLDFIELDS.

Auckland Star, Volume XLIV, Issue 28, 1 February 1913, Page 9

THE GOLDFIELDS.

THE EXCHANGE. c The wek closed with a good demand i for investment stocks on the Exchange. ] N_. Insurance are still wanted at 98/, with no sellers under 100/, while 43/ is offered for Nationals, 74/ for South British, and 32/9 for Standard, but no sales were effected to-day- at those rates. Inquiry was made this morning for '■ Palmerston North Gas at 172/6, with no - sellers. Auckland Gas are still in re- \ quest at the recent advance, and buyers of Turkish Baths advanced their offer J to 73/. In mining shares, Waihis sold , at 33/, and are still wanted at threepence under that figure. Waihi Grand . Junction were inquired for at 22/, and [ Waihi-Paeroa at 30/. Sales were made . for Ross Goldfields at 5/4, and Waiotahis at 2/3. There has been a little quiet buying of Waiotahi shares during the last day or two, but no news has been received as to the cause. Occidental Consolidated shares changed hands at 10$ d this morning, in spite of the fact that during the week 30ibs of picked stone were obtained and gold was left showing. WAIHI RETURN. £15,477 FROM 8,978 TONS. \ The return from the W_hi mine for the period ended January 18th was £15,477, the result of the treatment oi 8,078 tons of ore. This is for an actual crushing period of 14 days 16 hours. The total value of the bullion won from the Waihi mine to date is £10,125,818, of which dividends totalling £4,483,025 has been distributed. Appended are the details.-— Total to end of 1907 ... £6,200,113 In 1008. 393,214 tons <)30,511 In 1909. 416,813 tons !>59,5!H In 3910, 442,020 tons 026,100 In 1911, 350,699 tons 679.113 . In 1912 61,327 ' Total £10,110,341 : In January, 1913, 8,978 tons 15,477 Total to date —0,125,318 Total dividends . £4,1)83,025 OCCIDENTAL CONSOLIDATED. A few feet of the reef in the stope was broken down on the 20th. The ore showed gold freely, and about 3011bs. of picked stone were selected with gold left still showing in the reef. This includes the 251b. previously wired. MAY QUEEN. At the close of the meeting of shareholders in the Thames Gold Mining Company yesterday, tho chairman (the Hon. E. Mitchelson) said he hoped all present who held shares in the May Queen Company would attend the meeting to-be held on Monday, Feb. 10th. He said they all knew that the Moanataiari Company owed the May Queen a considerable sum of money, and it was equally certain the Moanataiari shareholders would not pay calls to liquidate i that debt. The meeting was to consider whether or not the debt should not be | wiped out altogether. They were advised j that if they put in a crosscut from the Just-—.-Time shaft through the slide they would intersect the Cambrian reef. Mr W. Baker and Mr E. F. Adams advised them that a drive of 600 feet would absolutely prove whether gold e_isted on the other side of that slide. The opinion : j was that the gold had been shed down ! from that slide, but hitherto it had | always been found on the seaward _ide. In a circular forwarded to shareholders the following proposal is submitted: — " A proposal from the Moanataiari Gold Mining Company, Limited, that on payment of a nominal sum, this company release the first-named company from the mortgage for £8,000 held by this company and secured on the licensed holding and other rights of the Moanataiari Gold Mining Company, Limited." WAIHI GRAND JUNCTION. THIRD SHIFT AT THE MILL. (By Telegraph.—Own Correspondent) WAIHI, this day. The management of the Grand Junction Company has made arrangements to start a third shift at the mill on Monday. There is no difficulty in procuring labour of all classes.

THAMES GOLD MINING COUPAITZi A meeting of the shareholders in the Thames G.M. Company was held at 2.30 o'clock yesterday afternoon in Mr H. Gil* fillan's office. The report and balancesheet were adopted, as already published. The Hon. E. Mitchelson and Mr. H. T. Gorrie were re-elecied directors. EXTBAORDINAEY MEETING. An extraordinary meeting was held subsequently, at which Mr. Mitchelson said the majority of the directors were in favour of winding up the company. Mr. H. H. Adams was, however, of a contrary opinion, that the Company should hang on to the ground until the main crosscut at I,oooft got underneath the Kuranui-Caledonian shaft. Mr. Mitchelson then moved that the Company be wound up voluntarily. This waa seconded by Mr. Whiteley, and was cat" ried by the shareholders. MANAGER'S REPORTS. May Queen.—Work in the No. 10 level (l.OOOft.t was resumed on Monday, after a spell of five weeks. Iα tbe western drive on the Exchange reef a considerable amount of dirt had beeu brought down by the water near the clay breaks. A. dozen sets of timbers, as well us most oi the 14in. air pipes, were also down. Clean-ing-up and repairing has now been completed, and a start made to extend the drive on the reef. In the drive eastward on the reef very little damage was done, which only took a day or two to repair and wort was resumed in the face last Tuesday. A 21n. vein of quartz crossed tbe face, which showed some nice dabs of gold. The country is of the best description, interlaced with numerous mineral veins.