MINING NEWS.

Press, Volume LVIII, Issue 11012, 9 July 1901, Page 3

MINING NEWS.

I£t T. N. Baldwin, writing to the "Otagp Daily Times" with regard to tue Reeves a Proprietary Company, says he hears, on good authority, that the directors have been approached by 'the representative of a wealthy ikigiiih coujpa-ny to purchase the option over the claim on ihe following terms:— £200 to be paid for the option, wluch is to be spent in. putting down prospecting shalts; shareholders to receive share per share in the new company, and IBs * share in cash, the new company undertaking to put on six new dredges. mc directors, he understands, met on the Ist mat., m<l wished to stipulate that they should retain office in the colony at a remuneration of £50 a year each and travelling expenses, receiving- £1 per cuiy when travelling. The English capitalists' representative ■would not agree to this, sad Mr Baldwin questions whether the shareholders have any reasoas ior the claims of the directors, n::d his a. letter ior siynaiure by shareholaeis requesting the directors to call an extraordinary- ta discuse "the proposals sulanitfed. ;■ ~ Th.3 Ah aura River Company are getting a new piniou. inaue for the winch on the dredge. 'lh»'dredgcznaßter reported «n June 30th that ho bad taken a cut of foot «rM.inn wide across the river, and bottomed all tiie way. Tie groat] d was shallow, cjily going , about 15ft. 'i'hj return, as previously reported, w»s 6oz sdwt Ugr. The gold was very fine, and' until he got into deeper ground lie did not expect much improvement. The river was very low, and he will have to dredge his way up to get into the river, where it is deeper ground and mote confined. ' ■*•'.

The dredgemaster of the Grey River Consohdated Company, in his last report, dated June 23th, states that the ground is still about 20ft deep, and the last foot or two of 'fash is very nard. This 2ft of iraah is under a "pug" bottom, and on top of "old man" bottom.

In reply to enquiries from a local investor, *t J« B. Brugh, aecretary of the Bendigo

t and River Molynenx Companies, stales that ] the directors of- both companies fuHy ex- ■ pect to hare the dredges completed si toe end fof the present tnonttj (July). The River ' Molyneux Company* ctrodge had a trial mn on the 4th inst., when everything -worked eatofactoriiy. .The Bendigo Company's dredge is about as far advanced «a the River Molyneux Conrosny'e.----1 The secretary of the Hokitika Kiver Com- ' pany (Mr W. Bollitt) states thai, given fine IAR, weather, the Company's dredge should be T finished by the end of the present month. A ecu tract for the housing of the dredge has been let. - ■ - ! ' Work on the No ■ Town Company's dredge is proceeding very slowly.': The pontoon is not yet completed. ' The bailer and a> quantity of 'LI- machinery are on the ground, rom The Oid Diggings Company's dredge is lose, safely moored in a sheltered spot opposite Berwith lin's. xhe buckets are now'being placed in the position, and within three weeks the dredge g of will bo at work. Although this dredge has tion done a lot of work in the Buller (as the White the Cliffs, Cocksparrow, and Consolidated), 'says j toe "Greymouth Star," the machinery iin is very . compact and in good worktoo i n g condition,, anu it is a pity the present ponlort, toons are not more substantial. The dredge ght- can work to'a depth of 25 feet, and will pro-. J ll0 * perly test the Company's claim. i The pontoons of the Caledonia Company's \ dredge were to have • been launched last week. i All the machinery is on the ground, and tW > j dredge is expected to get a start in six weeks' time. The pontoons for the Trafalgar Company's dredge were launched yesterday into the e> dam just completed. The machinery is about completed, end it is hoped that the dredge will be turning in two months. This \ dredge is the largest in Nelson Creek, being to ca P aD ' e °* dredging 40ft, and is possessed of ■ t very powerful machinery. Balß Messrs Bauche and Donoghue have secured esa the contract for excavating the dam for the ,o{ Commissioners' Plat Company. :on . Messrs McDonald Bros., contractors for and building the pontoons for the Greenstone Comjjjy pany, have finished their contract. t o The boring on the Auckland Syndicate iear claim, in the Teremakau river, is finished, and n a the prospects appeaft to be satisfactory* Iwo !to bore holes in the claim held by Messrs R. lin- Davidson and W. Passmore have given returns to that are considered satisfactory. i°o v I CANTERBURY STOCK- EXCHANGE. »nd J T-he following are-yesterday's quotations, sub;on - ■ ject to the usual brokerage:— ' ver , Al, sellers 21s pd. tice • Buller Junction, sellers 6s 3d p. ln ß Davis Bend, sellers 3s p. lee > Electric, sellers 48s pd. First Chance, buyers 34s pd. Grey River, buyers 22s 6d pd, sellers 26s pd. Hokitika River, buyers 18s Cd pd, sellers 20s !. ' 9d pd. 390 Leviathan, buyers 16s 6d pd, sellers 19s pd." Marsden No. 1, sellers 209 pd. Mokoia, sellers 25s pd. New River, buyers 5s 4Jd pd, sellers 5s 9d pd. Pactolus, buyers 22a 6d p. Pactolus No. 3, sellers par. Prince of Wales, sellers 3s 6d p. Red Jacks, sellers 25s pd. : Sailor's Bend, sellers 55s pd. Thre.e Mile Greenstone, buyers 15s 6d pd.v , Victory, buyers 6d dis, sellers 2s p. ', Welcome, Beliefs 20s pd. THE DUNEDIN SHARE MARKET. ] (PBliisS ASSOCIATION TELEGBAM.) ' DUNEDIN, July 8. J Dunedin Stock Exchange sales:—Cairnmuir, < 24s 6d, 25s 6d, 265; First Chance, 365, 35s 9d, i 365; Gibb's Beach, 9s; Gold Queen, 8s 9d; j Great Central, 365; Junction Electric, 235; Mo- \ koia, 235; Vincent Extended, 25a 6d, 30s, 31s, i 31s 3d, 31s, 81s 6d. - i Otago Stock Exchange sales: —Electric Extended, 37s 6d; Gold Bed, 18s; Merrimac, 13s; Sixteen Mile Beach, 15s. ' Equitable Stock Exchange sales: —Uipper t Magnetic, 19s 9d. t I - ' 1 LATEST DREDGING RETURNS. j The secretary, Mr W. Rollitt, of the Al Com- } pany, reports a return from the dredge last week of lloz for 124 hours' work. The secretary of the Three Mile Greenstone Company reports a return of 20oz 2dwt for 184 = hours' dredging. . . , ■ No confirmation has been received of the — reportea return of 60os lOdwt from the Island a Creek Company's dredge. *■• 1 OTAGO DREDGING-RETURNS. r ITBXBH ASSOCIATION TBI-KGBAMS.) j 0 - iDUNEiDIN, July 8. ' During the week returns have been reported L from 43 dredges, the total gold yield being * .a 1004oz lldwt lOgr, or an average of 230z per c ". dredge. AdditionaP returns are: —Empire, c '; 4ooTl7dwt; Golden Gate, 20oz6dwt; Majestic, € ft 240z 3dwt; Upper Waipon, 18oz lOdwt; Globe £ ". 17oz lodwt; Reliance, 13oi; Evans Flat, 13oz * fit '. The' Scandinavian Sluicing Company washed a „i up 1507cz. 1-ne manager estimates there h Z were 20QOZ in the tail race when he was stopped .{ by the froat. 0 TB.J3 WAIWHE^TsLUICING - AND i DREDGI.% COMPANY. » The secretary (Mr H. A. Bruce) has received " ~ the lollowing. report from Mr G. Morris, the t '" mine manager of the Waiwhero Sluicing and h Dredging Company:— . v> "The return last week of 184oz was a anr- c , prise to mc, for I did not expect more than a lOOoz, and Buckley's must be very good ground t | _ to turn out like it did. "We are getting better weather now, and if ° it continues we should have a very good re- C' turn next wash up, as : the cloths in Geordie's l€ Terrace are looking very well the last few v L ! shifts, and bid fair to rival Buckley's. w "We have two nozzles on now, and. are able q to command the face better, ior the pressure is no good at all with all the water going 1 through one pipe. There are two more tables j 1 to finish, and then all the men will be avail- lo able for other work. - Geordie's water race itf t< enlarged, so that it, will carry sufficient water to work all the tables, and we are making the tail race bigger as fast as we can. A 9 regards the main race, last month was about as bad sc as we could get, for more than two-thirds of j J] the pay sheet went in repairs." . ~ p: WEST COAST NOTES. a^ 1 (special to "the pbess.") fc ; GREYMOUTH, July 8. £ 1: The Perry's Reward Companfs dredge, after bi considerable delay in opening out tha clEim tr owing to the smaNness of the dam, is now able cv ■ to turn round, and is in a position to work the Jgo ground without further trouble.' Only one shift -^ has been employed. The dredge is giving satis- /i faction, and no difficulty is experienced in . i dealing with the wash. iVext week & face will In be opened throe chains, wh«n three shifts will cc be put on. fo The VVaipuna Company's dredge ,after hay- cc ing dredged herself into a safe position, shut f. down on Saturday." The .claim is to be syste- , matically bored, after which the dredge will be , shifted to a place where the Best prospects have been obtained. . sit The machinery for the Norßi Beach Com- of dredge is nearly all erected, and the f a , . housing is just- about completed. The dredge should have a trial' run about the end of next week or the commencement of ths next. F a The pontoona for the Roes Day Dawn Com- i n i pan/s dredge are nearly completed, and should ca: ze out of the contractor's hand 3by Wednes- in day. j^ 'ihe Greenstone Junction Company's dredge after having been thoroughly repaired and overhauled, resumes work on WednesSay. P° In place of an additional wifith to both S r ' sides of the Hau Hau Company's pantoons Ti one side hae been widened, and on the other en side a, covered passage way had been buift. out- o r wards, to allow the men to pass the machinery -rJwith greater, safety. Even now there is still vv a slight cant on the added eide of the'pon- e.T toons. They were inadequate in capacity for riv the safe and comfortable housing.of the ma- t-et chinery and gear. The dam is small, and the a bi company nre now under the necessity of doub- _.j ling ite size. It is satisfactory to learn that _ at its trial, the machinery worked ndmirab'y aVi The ground is heavily encximbered with stumps . thr and snags lying in all directions. wii The (prospecting of the Shrives'e Treasure ny Company's claim has been completed with un- L.; satisfactory results, and is doubtful if the claim will be gone on with. i P. REBFTON, July 8. tha The Mokoia Company's dredge is said to be tlis on splendid wash. . . tj^ The Buller Junction Company's dredge js still keeping up to her usual" form, and steady returns can be looked forward to. n The Rccklands Beach Company's dredge is _, working as well as caji be exoected. So far *-"' she has dredged but silt and tailings, the lad- tril ekr bejn» too short to bottom. The gold ficii obtained is very fine. ra] OTAGO NOTES. \^] (SPECIAL TO "TTTK FRKSS.") 500 DUNEDIN. July 8. of, The Sixteen Mile Beach Company's dredge f es x ', has Desn shifted down to the top end of the..v. ! The R-ecord Reipn Company's dredge, plant '4 and claim will.be sold by auction at Invercar- etc. gill on tie 20th. to i The Boundary Creek Company's dredge will shortly make a start. ■ " . v* The Moa Company's dredge has commenced * work. ; 5 of The Gorge fleet of dredges are working in- the termittently, the river being still a little too th-e liig"- = * wol The Viccent Company's dredge commenced work this morninjr. • - •" j The maeter of the First Chance Compsny's ' dredge reports: "Dredge working eatisfac- *i n torily; prospects payable; will-wash up Fri- dee ] day." . smo The master of the Vincent Extended Com- bas< pony's dredge reports: "Got good wash; tables in j looking well." ana Tie repairs to the Inch, Valley Company's • dredge* are now almost completed. "