MINING NEWS.

Press, Volume LIII, Issue 9562, 31 October 1896, Page 10

MINING NEWS.

(PRESS ASSOCIATION TELEGRAM.) AUCKLAND, October 30. The share market is quiet. Business Doxk. Sales. Sellers. Buyers. s. d. s. d. Adelaide ..' _. 2s 3d 2 1 — AlburniaEast .. .. Is 2d 13 10 Rangatira .. .. 4*d 0 6 04. Scandinavian .. .. Bd, B£d 0 10 — Sheridan .. ..4s 2d. 4s 4 2 4 0 Alert „ _. 2s2d 2 4 21 Byron .. .. Is Id 11 — Crown .. .. 48s 4d 50 0 Grace Darling .. .. 4s 4 3 311 Rising Sun _ .. 9d 0 9. 0 9 Talisman .. 1456d,1459d 14 6 14 0 Waihi South .. .. IsSd 2 0 19 Waihi Welcome .. 6_d ,0 7 06. The Company regarding which £3000 was paid and 30,000 shares were deposited in the Bank for local shareholders was the Waitaia not Waiotahi. Notice was posted on the Exchange today stating that the Directors of the Scandinavian Company had agreed to accept the following terms for the mine :—That a new Company be formed with a capital of £110,000 in £1 shares, a working capital of £25,000, vendors to receive 20,000 fully paid-up shares and £2000 cash, deposit of £500 to be paid for three months' option upon the siguing of the contract. The option for the flotation of the Queen of Beauty property (the Thames Hauraki extended special claim), area 77 acres, adjoining the Thames Hauraki goldfields property, has been placed in the hands of Mr Greenslade, who is expected to reach London within the next few days. The necessary papers, &c, will be forwarded by the outgoing mail. A new rush has set in for Whangaruru on Crown lands between Puhipuhi and Helena Bay, close to the coast. A prospector named Clark found a reef thirty feet wide, which shows free gold. A number of claims are pegged out. Mercury has been found on the flat at the back of the township of Russell, the globules being plainly visible in the earth. Dr. Bakewell, who brought samples to Auckland, considers there is cinnabar in the ore as well as pure mercury. It has been known for some time past that cinnabar and mercury were at Ohaewai.