MINING NEWS.

Press, Volume L, Issue 8596, 25 September 1893, Page 5

MINING NEWS.

LBt Telegraph.]

(from our correspondent.)

REEFTON, September 24, The market last week was again dull, though there was a demand at times for Lord Edward and Russell, and an advance wai also made in Cnmberlands. The leading lines, Alpine, Progress and Big Kiver, as usual, are firmly held and difficult to obtain, the former and latter especially so, after the excellent returns for last week. On Saturday the Fiery Cross claim and plant were sold by auction, the shareholders having decided to wind up the Company, and was purchased by Mr Fenton for a party of miners for £530. It is considered they have full value for their money. The tailings plant at the Drake battery is in fall swing, everything working satisfactorily, and hopes are held that the process (Dr Gaze's) will pay. At Boatmans *the cyanide works are still hung up, the Company at present being engaged in experiments. The utter failure of the Cassol Company themselves to work tha tailings caused great disappointment, but it is thought a modified form of the process will be successful. The Alpine is expected to pay a two shilling dividend at the end of the month. The returns are—Alpine, 6740z amalgam from 220 tons of stone, Big River 3540z amalgam from 95 tons, Progress 3670z amalgam from 300 tons, Cumberland llloz amalgam from 85 tons, Globe 12_oz amalgam from 190 ton 3. Mid-day quotations on Saturday were— Big River, 133 9d to 14s 6d; Cumberland, 7s 3d to 8s; Exchange, 7d to 8d; Globe, 83 to 8s 6d; Hercules, ls to Is 3d; Dark, 8d to ls; Lyell Creek, 18s to 19s; Lord Edward, ls 3d to ls 6d ; No. 2 Dark, ls to ls 6d; Progress, 17s to 18s; Russell, ls 6d to Is 9d; Success, 4d to 6d: Alpine, 26s 9i to 28s 3d ; Wealth, 2s to 2s 3d.