MINING NEWS.

Press, Volume LVIII, Issue 11013, 10 July 1901, Page 3

MINING NEWS.

"With reference to tho statement, made by Mr T. N. Baldwin re<w--t-i_g the proposals mado by an English Company to purchase thc option over the. claim oi tho Reeves's Proprietary Company thi- (he present directors wish to stipulate thai, they should retain office in the colony at a remuneration of i's9 per annum, and _1 per day travelling expenses, Air "VV. N. Macbeth, chairman of directors, states that no such suggestion waa made to the directors. What was suggested was that there shouid be an advisory board in the colony, elected by the New Zealand shareholders to protect their interests. This did not necessarily mean that all or any oi the present directors -would constitute that hoaj?d. The secretary of tho Al Company states that a return of Boz, or a trifle over, is sufficient lo pay tho working expenses (including office cliarges) in connection with the dredge; so that last week's return of lloz leaves a profit on the week's work. The dredgemaster has informed him that the amalgam is now yielding lldwt of gold to the ounce as compared with 9clwt to the ounco at the start. The higher yield of gold from the amalgam is taken as an indication that the gold is getting heavier, and it is considered probable that it will get heavier as the dredge work 3 further into the solid. The annual report of the directors of the Victory Company states that in view of the congested state of the New Zealand foundries it was decided to join with other com-paaiiea in sanding an engineer to America with tho object of getting the machinery for the dredge manufactured there. As a result the contract had bean let to the Quintard Iron Works, New York, tho machinery to be delivered in five montas. A large portion had already arrived in tho colony; a largo quantity had been shipped, and the remainder would bo shipped this month. All other material, including a Marshall 15 horse-power engine and a 20 horse-power boiler, has been delivered on the claim. The pontoons sre being constructed of bhiegum and kauri. It is expected that the Fourteen Milo Beach Company's dredge will start immediately, though the river is not yet sufficiently low to allow of her working y> full advantage, says the "Alexandra Herald." Some expansion joints are being fitted to the pipe-line/-Notwithstanding the recent severe frost, there is a full supply of water available for the pipes. Mr Todd, who has the flotation of the Ross Deep Levels Company in band, has cabled from London asking fcr an extension of time, to enable him to complete Ms work. The Premier (Buller) Company are inviting applications for the position of dredgemaster. CANTERBURY STOCK EXCHANGE The following are yesterday's quotations, subject to tho usual brokerage: — Buller Junction, sellers _s 6d p. Electric, sellers 50s pd. Electric Extended, sellers 38s 6d pd. First Chance, buyers 35s pd. Ford's Creek, sellers 12s pd. Golden Gravel, sellers 20s pd. Golden Reward, sellers 20s pd. Greenstone Creek, sellers -Is _;:' Junction Electric, sellers 30s rd. Leviathan, buyors 163 6d pd. New River, sellers 5s 6d pd. Orwell Creek, sellers 19s pd. Pactolus, buyers 24 s p, sellers 28s p. Pactolus No. 3, sellers par. " ' Prince of Wales, sellers 3s p. Red Jacks, buyers 23a pd, sellers 25a pd. Reef ton United, 6d p. Tere_i»_R.u, sellers 4s 9d pd. Three Mile Greenstone, buyer* 16s pd. Vincent Extended, buyers 31s pd. Welcome, sellers 20s pd. THE DUNEDIN SHARE MARKET. (PRESS ASSOCIATION- TELEGBAi-.) DUNEDIN, July 9. Dunedin Stock Exchange sales:—3endigo, 265; Boundary Creek. 19s 6d; Cairnmuir. 30s; First Chance, 37s 6d; Fourteen Mile Beach, 445, 43s 6d. 44 s: Go'doa River, 6s 4_d, 6s 6d; Junction Electric. SSs; Kelly and Casey, 435; Leviathan, 17s 6d; Mokoia (preference), 23s 6d; MorAe Christo, 265; Nelson Creek, 5Ss; Kiver "Holynetix, 245. 24s 3d, 245; Roxburgh Jub_ee. 16s; Sixteen Mile Beach, 16-; Vincent, _Js, 30s; Vincent Extended, 355, 37s 6d. 375. 365. Otaeo Stock Exchange sales:—Electric Extended, 365; Gold Queen, 8_: MJ-gnetic, 225, 22a 6d: Reeves's Proprietary, 4s 9d; Second 275, 27s 6dEquitable Eixchange sales:—Merrimac, 13s. WEST COAST NOTES. (SPECIAI, TO "T__ TBVSS.I GREYMOUTH, July 9. Three disabled dredges, the Grey River Consolidated, Erickaon's, and the Ahauia River are again in fail sw ing. The first two should have * S?ood w«whi_g up on Saturday. Ihe Ahaura River Company's dredge is not working so well, but _ moderate return is" expected. '£he -"old's Creek Company's dredge mdi

cates an improvement on last week. The Grey River Company's diedge is working steadily, and if not interrupted should have a return of 30os en Saturday.

Tlia Pactohie Company's dredge is in sbout the sarus ave:ago vvssh as last week. Ihe Sew Kiver Corcpany's dredge is not looking well, and the dredge seams to bo again off the load.

The Gr_snsU>ne, CV.-«k Company's dredge, with 1307. for HO hours, did ici coi__ up to expectations. It is reported that the wash is improving. Owing to unforeseen delay tbe Greenstone. Junction Company's dredge has not ret started. Before next week there is likely to be sonic trouble about the machinery. The report to-night from the Maori Queen Co.-pariy a dredge stated that the ground is ior.jor. and a belter return is expected. Tbe snare market, which has been pr-rtically dead for the post six week.", is brig..tening. although prices continue low. Sharebroirers say that scrip is certainly _ more liquid as-set thai, it lina been for pome time. DTNEDI?;, July 9. The Levin!han Company's dred_rc he's resumed work. OTAGO NOTE?. fsl-CIAL TO "TH!-: l'XFS<i.") DUNEDIN. Jnlr 9. A breakdown of the -_c';i:;ej-y oa the Halfway House Crirfmny'n dredg?e trill necessitate, a fortnight's repairing. The fo!*-wii.<* companies' dredges have made ft start:— Alpine Coj'.so'.... Unnet Ma--'----notie. Boundary Creek, and Kcily nnd Cascv. The Second Magnetic Company's dredge*>s wash is improving. The Junction Eiectrio Comnanv's dredge i<= findme the drift troublesome."

Cuirnmuir Coiapaßy's drcdec will start in a ciay or so.

T.he arcrlsea are ?.'.! working stetsdiiy. ine Kia Ora Company has set up a comnnttee to endeavour to place the. t»m-aiii-edfn CS am ™" st the in Duu-