MINING NEWS.

Press, Volume L, Issue 8542, 24 July 1893, Page 5

MINING NEWS.

[By Te__o_abh.] -[from our correspondent.] REEFTON, July 23. The following battegy .returns are to hand :—Alpine 2890z amalgam from 230 tons, Cumberland 940z from 90 tons, Glob© 109oz from 185 tons, Progress 2700z from 210 tons, Royal (Tributers) 165oz8dwt of retorted gold from the mine during the last week. The Stock Exchange report is as follows:— "The battery returns for tbe past week amount to 11420z amalgam from the Alpine, Globe, Progress,'" and TRoyal mines. The Cumberland and Drake batteries are also crushing, but the returns are not yet to hand. The Big River battery will start on Tuesday and the cleaning up will take place in a fortnight, when a dividend is expected. The Al Tributers intend to have a crashing shortly, but the return is not expected to equal previous results fronvthe same claim. The Globe return is again poor. The mine is, however, looking well, being carried down on excellent stone, and shareholders may look for-' ward with confidence to an early improvement,-- the weekly yields. The crushing by the Royal Tributers gave 24dwt to the ton, which will pay both the workmen and the Company welL There has not "been much business doing in scrip during the week. There was a mild spurt in Lord Edwards, consequent upon a reef having been struck, but in the absence of any definite knowledge as to the quality of the stone the enquiry soon died away, and the shares receded to about their former price. Big Rivers have been in demand, but very few are procurable at present quotations, and -they are likely to go higher. The Amazon Company has now been registered, and two men are at present sinking on a good reef, carrying payable gold. The Directors are all men who have had long experience on the field, and shareholders may rely upon their interests being well looked after. It is reported that encouraging indications are being met in the Specimen Hill, and it is,hoped that the reef is not far off. During the past few months several of onr smaller Companies have gone into liquidation, and in the majority of cases the losses will fall almost entirely upon local -peculators. This will for some prevent much local capital being available for prospecting purposes, but it will eventually have the effect of establishing business upon a sound basis, and reduce to a minimum the chance of any claim being floated which has not a reasonable prospect of repaying those, who invest in it. The i following are the midday quotations:— '< Big River, I3s to 14s; Cumberland, 9s 6d to 10s; __cebange, 3d to Sd: Globe, 8s 6d to 8s 6d ; Dark, 64 to Is; Lyell Creek, 8d to , 9d; Lord Edwards, Is 6d to 2s; No. 2 I Dark, Is 3d to Is 6d; Progress, 20s to 21S; Drake, Is to Is 6d ; Russell, Is 3d to Is od; ; Specimen Hill, 4d to 6d ; Success, 4d to 6d; Alpine, 22s to 23s j Wealths, Is to Is 2d."

(PRESS ASSOCIATION -BLBSRA-f.) DUNEDIN, July 22. The Dunedin Gold Dredging C.;npanyreturn is 29£oz.