MINING NEWS.

Press, Volume XLVIII, Issue 7866, 18 May 1891, Page 6

MINING NEWS.

(By Telegraph.)

(FROM OUE CORRE3POVDEXT.)

REEFTON, May 17.

The battery returns for the week ending 16th May are as follows :—Cumberland, 2150z of amalgaj|f from 140 tons ; Keep-it - Dark, 82oz of amalgam from 50 tons; Globe, 109oz of amalgam from 190 tons; Alpine, 3560z of amalgam fro:n 352 tonsFiery Cross, 3070z of amalgam from 85 tons ; Progress, 201oz of amalgam for the week. No. 2 South Dark returns will be available on Monday. Energy cleaned up, but no returns are given, the proprietary being a secured party, and not registered as a company, but the yield is said to be satisfactory. Considerable activity has been maintained in Lord Edward stock, which during the week has advanced from ls 6d to 4s 6d. The rise is owing to a large body of excellent stone in the Big River mine running into the Lord Edward ground, which is immediately adjoining. Several other claims hi that part of the district are also coming into notice. The latest news from the district of Merrijigs, which reached town late on Saturday evening, id to the effect that a reef two feet wide, carrying payable gold, was struck in the prospecting tunnel of the Blue Sky, adjoining the Cumberland to the east. Several parcels of shares changed hands at 6d before the news became generally known, and the market was kept lively to a late hour. General progress in the mines has been very satisfactory, and owing to the splendid weather all open air or outside operations have been rapidly advanced. In anticipation of a strong revival in the stock market, which already is improving daily, the moribund Mining and Stock Exchange No. 2 is being resuscitated, and at an adjourned meeting held last night officers were appointed, rules adopted, &c. REEFTON, May 16.

The Stock Exchango report is as follows : —"The amalgam returns to-day total 12680z, contributed by the United Alpine, Fiery Cross, Cumberland, Progress, Globe, and Keep-it-Dark, and represents the topplates only in each case. An improvement hi the Globe is at once noticeable, while the others all maintain satisfactory averages. The No. 2 Dark return will not be available before Monday, and that of the Big River is not to hand either, for although crushing was started this week, there lias been a number of stoppages through one cause and the other, only to be looked after such a long spell at the machine. A better feeling has existed in the share market during the week, and a forward movement affecting a number of different lines is observable with some sharp rises in value. Alexandra, a lease in the Big River locality, which latter is fast assuming some of its former prominence, have buyers to-day. Big River show a steady rise throughout the week, touching lis 3d to-day, while the excellent show of stone at the mine and prospects of the crushing give the stock a well-set firmness. Blue Sky remain at last quotations, nothing new being reported. Advices from the Cumberland mine report plenty of stone, and the battery returns show the usual good average. Durham have been dealt in at up to Bd, and must see better business yet. Exchange, in the same locality, improved to ls, and the lease certainly has a position as well as the former. Fiery Cross had business to 7s 3d, and occupy a firm position, the returns continuing excellent. Golden Treasure sold up to 3s 6d, with ready buyers, and only limited parcels offering. Golden Lead remain at about former prices, and the probable time of crushing is being enquired about. The Globe return for the week shows an improvement, which is probably only the welcome forerunner to a return to the regular average. Homeward Bound have a slight advance, buyers being about at 2s, and Happy Valley had pretty fair business, indicating practical sort of attention out that way. Hercules sold at from 2s lOd to 3s, with a good feeling. Inkerman again rank amongst the list of shares in firm demand and brisk business, and advancing rates in this stock may be looked for. A new find of stone is reported to the north of where the recent good crushing from close to the Scotia boundary was taken, and from its character and position may be expected to lead on to a continuation of the same run and block. Although small parcels of these shares are sometimes offered reasonably whenever a pronounced buyer of a big lot comes.in the market sellers at quotations are not obtainable. Lord Edward, a lease adjoining Big River, have had what may be estimated as the most marked rise of all during the week, buyers gradually advancing from ls 7d to 4s 2d, and some good business done between those figures. Operations in the adjoining mine are said to indicate the reason for demand. Merrijigs are saleable up to ls, and No. 2 Dark are about as usual, with good accounts from the mine. Prima Donna, another Big River lease, attract attention and buyers at low rates. Scotia had buyers and business to ls, and Drake buyers to-day at ls 2d. Russell are easily saleable, and the improved feeling denotes the best of confidence in the future of the property, in which good stone is being sunk upon. Venus have buyers at ls, but holders are not selling at that. Operations in No. 9 Level at the Welcome have brought shares into demand again. Mid-day quotations :— Buyers (sellers not given)— Alexandra 3d, Durham 7d, Homeward Bound ls lid, Russell ls 2d, Triumph 2d, Venus ls. Sellers (buyers not given)— Blue Sky 7d, Cumberland 10s, Golden Lead 6s, Success 6d, Big River lis 3d to lis 6d, Exchange ls to ls 2d, Fiery Cross 7s to 7s 3d, Golden Treasure 3s 3d to 3s 4d, Gallant 4d to 6d, Happy Valley 6d to Bd, Hercules 2s lid to 3s Id, Inkerman 6s 3d to 7s, Lord Edward 4s 2d to 4s 6d, Merrijigs lid to ls, No. 2 Dark 5s 3d to 5s 6d, Prima, Donna 4d to 6d, Scotia lOd to lid, Drake lis 2d to lis 4d, Alpine 16s 6d to 18s 6d, Welcome (New) 2s 4d to 2s 9d, Wealths 2s 9d to 3s 3d. [PRESS association telegram.] WESTPORT, May 16. The Fair Maid return this week was 51oz 14dwt amalgam for twenty-four hours' sluicing. A casting at the bottom of the blow pipe gave way during the week, and will delay work for a few days, pending the arrival of one from Nelson.