MINING NEWS.

Press, Volume LIII, Issue 9515, 7 September 1896, Page 6

MINING NEWS.

(PRESS ASSOCIATION TKLRORAM.) AUCKLAND, September 5. This afternoon a most healthy feeling prevailed on Change, and the market closed very firm at 1 o'clock to-day. The transactions recorded at both the Auckland Stock and Associated Brokers' Association were numerous, and several stocks rose in value yesterday. There were plenty of sellers of Sheridaus at 3s, but to-day's sales took place at 3s 3d and 3s 4d, with no sellers under 3s sd. Kapai Vermonts also advanced to 10s 9d. Centrals remained firm. Grace Darlings were slightly stronger, there being trausfers at 4s Bd. On account of good news from the Sybil mine there were transactions at 7d and while Waitekanri United found buyers at 13s 9d and 13s 6d, with sellers at the first named figure. Waihi South again rose, and sales took place as high as Is 9d and several buyers declared themselves at this figure at "the noon quotations of the Brokers' Association, but there were no sellers under Is lid. Waihi Welcome, which adjoins the Waihi South, slightly rose in sympathy, there being sales at 9d. Waverley sold at 2s. Bunker's Hills remained at yesterday's quotations. A good sized parcel of Four-in-Hand changed hands at 2s 9d, these same figures being given for Hauraki No. 2. Star of Wynyardton were sought after at 6? 9d. Altogether there were salee of twenty-eight stocks recorded by the Brokers' Association, to say nothing of the business done by the associated brokers. An offer for the purchase of the Fonr-in-Hand property has been accepted by the Directors on the following terms:—A Company to be floated with a capital of £175,000, in 175,000 shares, the vendors to receive 60,000 paid-up shares and £5000 cash, the working capital £20,000. The option for three months, for which £500 deposit has beau paid, the deposit to be forfeited if the purchase is not completed within the time. To-day £5250 was distributed to the shareholders in the Hauraki South. Mr J. W. Phillips, who so successfully carried out the sale in London, will return to Auckland by the Monowai at the end of next week. Mr Phillips will bring with him all information relative to the new Company and allotment of shares. The Waitonhi's crushing of 192 tons yielded 2050z 6dwt of melted gold, worth about £563. Mr W. H. Churton, the local agent for the Norman Proprietary Goldmine, Limited (late Edwin Norman, Waitekauri), states that a cable message has been received announcing that the certificate for the shares on the colonial register will be sent by the San Francisco mail leaving London to-day, and will therefore be due in the colony on October Sfcli. Owing to the recent bad weather, the engineer for the prospective purchasers of the Balfour was prevented from visiting the property, and in consequence the Directors have extended the opition to September 14th. A cablegram has been received by Colonel Burton from London, stating that £1000 on account of the purchase of the May Queen Extended property has been forwarded to Auckland. Notification has also been received from the Bank of New Zealand that the remittance had been received and placed to the credit of the Company. By the outgoing mail to-day the papers for the flotation of several properties are being despatched. Messrs Stowe and Home are sending powers of attorney, necessary documents, &c, for the flotation of the Specimen Hill, Golden King, Dorothy, and European properties. The Specimen Hill, it will be remembered, has, according to a cablegram received recently, been sold pending the arrival of documents in London. Despatches in other cases are being sent to complete negotiations already in progress. The Golden Hill is to be floated in conjunction with the Vulcan, recently taken Home by Mr Massey. The Directors of the Waikanae have decided to withhold their property for the present mail. DUNEDIN, September 5. The Sew Hoy returns are 520z 12dwt I2grs of retorted gold for the week from two dredges.