MINING NEWS.

Press, Volume LVIII, Issue 11014, 11 July 1901, Page 3

MINING NEWS.

The return from the Island Creek Company s dredge is 3oz 18d\vt for 70 hours. The .Westport correspondent of the "Otago Daily iimes says- tho dredge was only 18 hours on wash, and the secretary informs us thtt she has not boitornud yet. as the dredgemaster has been making for the place where the here was put down. Tne secretary of the Montgomery s ierrace Hydraulic Sluicing Company (Mr C. L. Kussdl) states that the survey of the claim has been considerably interfered with by the unprecedented weather recently experienced on the Coast. 'Lie engineer, however, reports that ii the wealher holds good he wili complete the survey this week. Specifications and plans are finished, and tenders will bo culled next week for tunntl. ditching, and clearing contracts. The Blackball syphon line has been permanently fixed, the length being 860 feet, and thirty chains of race have been pegged for the siphon outlet towards German Cruilv. The manager, Mr Jno. Hay, reports having been engaged in driving tunnels in various portions of the property, with very satisfactory results, proving the gold is distributed over the whole area, the prospects giving 2gro and B<rrs to lOgrs to the load. This work is very necessary, *" the information obtained will be exceedingly valuable for the future working of the property. The directors are determined to lose no time in having the various works carried out. The Electric Dredging Company obtained TOnz lOdwt up till Tuesday evening. The master of the Grey River Consolidated Company's dredge reports washing up for 13oz for SO hours' work last week. In the annual report of the directors of the Kohinoor Company, the results of the recent boring operations are given. Mr*?Maynard, who did the prospecting, in his states that below the 37J feet originally stated as the depth of the wash, there is much richer wash, averaging up to Bdwt per cubic yard. He ia of opinion that on account of the great depth and uniformity of the wash, the area of the claim is sufficient for two dredges. The construction of the present dredge is being vigorously prosecuted, and it is anticipated that she will be at work about the end of the year. The question of building a second dredge will be submitted to shareholders at the annual meeting. Mr W. Inwood, master of the Rocklands Beach Company's dredge, says the "'Westport Xews." generally gives a very hopeful account ' of what he considers the future of the claim. I Mr Inwood is thorjrigbiy capable to give an j opinion on dredging ground, having had over j nine years' experience dredging on the "Buller, in the jricinity of Fern Fiat. The direotorswilli>iortly visit the claim and machinery, and j th.." opportunity will be taken of their presence | t* lay before them certain alterations which | will naturally conduce to the future profitable ! working of the property. ' The machinery is being erected on the ; -Wareatea Company's dredge, which should be working in eight weeks The framing of the pontoons for the Fairdown Company's dredge is finished. The conj tractor is waiting for the kauri for planking. CANTERBURY STOCK EXCHANGE. . The following are yesterday's quotations, subject to the usual brokerage:— i Buller Junction, buyers 5a 6d p, sellers 63 6d p. Electric, sellers 50s pd. Greenstone Creek, sellers 19s pd. Grey River, sellers 23s 6d pd. Hartley and Itiiey, buyers 110s pd. Leviathan, buyers 17s 6d pd, sellers 20» pd. Mokoia, sellers 21a 6d pd.

Kelson Creek, buyers oas pd. sellers 60s pd. New Hirer, buyers 4s 6d pd, sellers 5s Cd pd. Pactolus, buyers 24s p. Reeves' Proprietary, sellers 15s pd. River Molvneux. buyers 24s pd. sellers 27s pd. Reefton United, sellers 6d p. "Welcome, sellers 20s pd. THE DUNEDIN SHARE MARKET. (PRESS ASSOCIATION' TELEGRAM.) DUNEDL.N, July 10. Dunedin Stock Exchange sales are: —Ben27s 6d; Cairnmuir, 29s 2d and '2&s 2d; Elcc'ric Extended. 355: Fir3t Chance, 38s 6d, 395, 3Ss 9d. 38s 6d. 358 3d, 33s 6d, 38s 9d, 395. 33s 9d ; Go.v Oueen. 7a 6d; Golden River. 6s Cd; Great, Central. 265: Halfway House, 30s and 39s 6d; Kelly and Casey. 255; Leviathan. ISS; Mokoia (nreterence), its 6d; River Molyneux, 335; Vincent Extended, 30s, 31s, 30s 6d, 30s 3d, 30s, 29s Cd, 29s Od, and 30s. Oiago Stock Exchange sales:—Boundary Creek 10s C-.i Cairnmuir. 23s 6d; Fourteen 31ile Bsach. Us 9d ; Magnetic. 23a 9d; ifontcChristo. 275. 26s 9d : Nelson CTeek, 57s 9d. Equitable Stock Exchange sales:—Alpine 11.. 41s; Hartley Bnd Riley, 120s. OTAGO NOTE?. (SPKCIAL TO "'•»-'• i'H^«."l DUNEDIN, July 10. The dredsremaster ci ,i:l- ituu. Company's drrdge reports:—"Bottomed Monday, little fin* gold through wash." The Molyneux River is now about oft, above normal.