COMMERCIAL.

Press, Volume XLVIII, Issue 14406, 13 July 1912, Page 13

COMMERCIAL.

United Press Association—By Electric • Telegraph—Copyright. LONDON, July 11. SHARE QUOTATIONS." "VVaihi shares are quoted at '.Yds 9d to ' 36s 3d; Grand Junction 21s 9d to 22s f.»d; Talisman 40s Gd to -J2s Gd. j SILVER: j Silver is quoted at 2s 3 10-16 d. : LONDON WOOL SALES. ! Competition at tho wool sales is being ' fully maintained, and tho prices aro ! the" highest of the series.

DAIRY PRODUCEThere is no change to note in dairy produce except that eggs h are ati " vanced Id per dozen. Local prices are recorded as under: — Cheese—Factory 6£H dairy Gd, loaf Cjd. ■ Butter—Factory Is Id to Is 2d, farmers' separator 10Jd to Hd, dairy j 10d. J Bacon—Sides 9jd, rolls 10d, ham I Honey—Extracted 3Jd per lb. • ««T-1» to Is 2d per lb. j Lard—Bladders Bd, pats Bsd. j Eggs—ls 4d per dozen.

GENERAL .-MERCHANDISE.

BANK OF ENGLAND RETURNS.

LONDON, July 12. The Bank of England returns, issued on Wednesday, July 10th, afford the following comparison:— Last week. This week. £ £ Coin 33,921,0J0 38,920,000 Reserve .. .. 25,879,000 2U,272,000 Proportion reserve to liabilities .. 41.38 50.23 Notts in circulation .. 29,973.000 23,5C6,000 Pul/.i: deposits .. 21,376,000 17,832.000 Other deposits .. 43.:5!9,00Q 40,355,000 Government securities 13,934,000 13,934,000 Other eecuri<ce3 .. 44,815,000 33,061,000

The Bank rate is 3 per cent. Short loans 2J- per cent, as against 1J- per cent, last week. Three months' bills 2 15-10 por cent as against 2J per cent, hist week. Paris, 2J per cent, as against 2J per cent, last week.

GOVERNMENT' SECURITIES.

The following arc the latest quotations for Government securities, with a comparison with thoso ruling last week: — s 211 £ s. d. 2§ per cent. Imp. Con. .. 75 12 6 17s 6d f. >t.b.W. 4's, 1933, Jan.-July 103 0 0 Unch. N.S.W. ■ 3J'e, '18, Atch-Spt. 96 0 0 Unch. N.S.W. 3s, 1935, Apl.-Oct. So 0 0 Unch. Vict, i's, 19' JO, Jan.-July 100 0 0 Unch. Vict. 3i'a, 1921-6, Jan.-July 95 0 0 Unch. Vict. 3'e, IQ2I-2G, Jan.-July 82 0 0 Kβ f. S.A. 3i's, J an.-July 95 0 0 Unch. S.A. 3's. 1939. Jan.-July 79 0 0 10.1 f. Qland. 4'a 1915-24, Jn.-Jly. 100 0 0 Unch. Q and. 31'e, 1924-47, Jn.-Jly. 95 0 0 Unch. Qbud,3'B, 1922-47, Jn.Jly. 82 0 0 10s f. N.Z. 4'e, 1929, May-Nov. 102 0 0 TJnch. N.Z. 3JX 1920-40, Jn.-Jly. 94 0 0 Unch. N.Z. 3's, 1940, Jan.-July.. 84 10 0 Unch. N.Z. 3J's, 1940 (ex. div.) 84 12 6 Unch. Tae. 3J'a, 1940, Jan.-July 93 0 0 lOef. Taa. 3'b, 1920-46, Jan.-July &1 0 0 Unch. W.A. 31*8, 1915-35, My-Nv. 94 30.0 Unch. W.A. 3'», 1915-35, My-Nv. 86 0 0 Unch.

LONDON MARKETS

The wheat market is very dull, owing to the fine weather. Europe, American, and Australian cargoes sold at 40s to 41s. There is no demand for cargoes. Tho price of ■ 40s 9d is asked for New South Wales March shipments, and:4os 3d for April shipments; 41 for South ■ Australian March shipments, and 39s Cd for June; 40s 3d tor Victorian April; and 38s 6d and 39s for parcels afloat; 41s 6d for Australian on the spot

Flour is dull, Australians being about 28s ex store. ■ ■

Oats. —Firm; La Plata June and July, 16s 3d.

Barley.—The market is inactive. Beans and Peas are steady and unchanged. ■ i ■ • ■ Butter. —The market is dull; Danish, 1203 to 1225; Siberian, 100s to 104s; colonial nominal; choicest Australian, 104s to 106s; -unsalted,- 108s to 110s; New Zealand, 112s to .114s; unsalted, 116s. Ohoese. —Dull- New . Zealand white and coloured, 675. - . SUGAR. - Sugar—German, 11s 6d; first marks, 14s 9d. METALS. Copper—£73 3s 9d to £74 Is 3d. - Tin is 'quoted at £203 10s and £198 10s. . Lead—£lß ss. Spelter—£2o 2s 6d. Iron—£s6 10s. . Wolfram—2Bs 6d. J ~ : ; ' ■ WOOL. " Bradford Wool—The demand' is very strong; 64's are selling 27£ d, super 26$ d, common 60's 25Jd, 56's 50's 18.1 d, 4<6's lod, 40's 14d. At the London sales the following were the prices realised for the fleece portions of clips named: —Glencoe top 11 Jd, average 9Jd; Atawhai, 12-Jd and 12d.

BRITISH CROPS. LONDON, July 12. • "The Timee's" special reports on-the a condition of the British crops on the Ist of July are:—Wb.eat-89.73 bushels,, barley 90 bushels, oats 82.2 bushels.

AUSTRALIAN PRODUCE. MELBOURNE. July 12.

Wheat.~4s Id, 4s 2d; flour £9 ss; bran £6; pollard £6 ss; oats. Algerian, feed 3s 4d, 3s 6d; seed 3s 4s; NewZealand 3s 3d, 3s 4§d; maiiie 4s 3d, 4s •id; chaff £4 15s, £5 12s 6d; potatoes £7 osj £10 ss; onions £12, £12 10s; butter Is 3d, Is 4d. SYDNEY, July 12. Bran and tkrtlards have been reduced 10s.

Wheat—Holders aro offering freely at 4s ljd. Buyers aro holding off.

Tho following is a .copy of a. cable message received by Dalgety and Company, Ltd., from their London office, dated London, July 11th:—"Frozen Meat.—Tho demand is very limited. Tho market for beef and mutton is unchanged, but prices ,of lamb are lower by Jd to id per lb since our last cablo, tho decline being chiefly on medium and heavy-weights-" Messrs A. H. TurnbuU and Co. havo received tho following cablo from Messrs WedUel and * Co., Ltd-, yestermorning relating to dairy produce prices in London: —"Butter—Danish, butter 121s, New Zealand salted 114s, New Zealand unsaltcd 116s; market quiet. Cheese—New Zealand whito cheeso 6tis, New Zealand coloured cheese 675; market quiet."

GEAIN AND PRODUCE MARKETS

(by our commercial editor.) Friday Evening. Tho local grain markets aro in a very ilull state, which tho break in tho weather has not tended to' alleviate. There is practically. nothing changing hands beyond a limited turnover between merchants. No improvement is looked for until somo, export business can be done. Tho only movement is in potatoes, the market having further firmed. This is duo to the shipments to Australia from the M>uth and to an improved mand from the North Island. The wet weather has also a firming effect upon tho market, as it will delay deliveries. The price now paid at country stations is £4 per ton. Tho undermentioned aro the prices paid to farmers at country stations, free of commission, excepfr where otherwise stated: — Wheat (nominal)—3s od to 3s 6&; Pearl, 3s 6d; fowl wheat, 3s to 3s 3d,, at country stations. Barley (nominal)--Prime malting, 4s 4d to 4s 6d; extra prime io 4s 9d, at* country stations. _■ Oats (nominal)—Gartons, Is 9d to Is lGd, at country stations. Cocksfoot—Peninsula seed, 3d to 4idFloor—£B 10s per ton, lOOib bags £8 Bran—£4 15s (local), £4 10s, f.0.b., per ton. Pollard—£6 per ton. srsts &&» I*«.« 15s, at country stations. Potatoes—Up-to-Dates and Derwents £4, at country stations. Onions—£6 to £6 10s for immediate delivery, at country stationsPeas— Partridge. 2s l Jd to 3s: Prussian Blues. 5s to 5s 6d; White Ivories, 4s, at country stations, . . Beans-^s;"at country- stations.

"White Lead.— Tho anticipated rise in white kid has materialised, ■ and there is a further advance of 10s per ton. The present prico of white lead is £1U higher per ton than the price in 1910. Linseed Oil.—Cabled advices state that there is a further dccKne in Unseed oil, this being owing to later reports, regarding the crop in India, ha Vint; a reassuring tone. Tho present quotations aro 7d per gallon higher than lust year and Is 10d per gallon higher th-jn 1003. Pig Iron.—There has heen an advanco of 4s .per ton in tho prico ot pig iron during the last two months, and the present price is 8s per ton higher than at tho corresponding period last year. There is no change m bar iron. •

There is lair business being dono in Smyrna fruits and also in Barcelona and Brazil nut 3 and. Sicily almoiids. Currants havo advanced 2s per cwt., but sultanas remain the same, although the market is very firm. Jordan almonds are not quoted, tho crop being a failure. Kapoc remains unchanged, and buyers are restricting their business owing to tho present higji prices. Coffee. —Prices continue their march upward; further, strong advances have taken place." and tho quotations now are about £10 per ton higher than at tho opening of tho season, with only a limited quantity offering. In view of the fact that there is a shortage of threo million sacks in the world's supply, there must ho still higher prices, and already the cost of ship's assortment is about .£3O per ton higher than two years ago. The local manufacturers have been obliged to raise prices all round, and fear tho end is not yet.

FRUIT AND VEGETABLES

A large shipment of Australian fruit arrived yesterday ex the s.s. Moana from Sydney. The shipment consisted of oranges, mandarins, Sevilles, passion fruit, and pine 3. No Island fruit is expected until tho latter end of next week.. Representative prices were: — Oranges 8s to 10s per case; mandarins 9s to 10s 6d; passion fruit 6s; and Sevilles 9&. Auckland Poormans are worth 8s to 9s. . . ~ Local . fruits consist principally of apples: good desserts are worth <>s to 7s, and cookers os 6d to 6s Gd. Vegetables are in good supply, and the general quality is good. Cabbages realised 9d to Is 6d per dozen; cauliflowers 3s to 55.6 d per dozen; carrots 6d to 9d per dozen bundles, and parsnips 9d per dozen bundles.

RANGTORA.

The wet weather during the week has mado business very dull, and there is little to report. The wheat market continues very inactive, and values are similar to last week. The absence of demand for chaff and oats keeps these lines in the background. There are heavy lines of oatsheaf in stack waiting for a market, and possibly several of these will bo threshed in the spring instead of being chaffeil, which will havo a further dopressing effect on the oats market. Potatoes are slightly firmer, but when fine weather-prevails and growers tean open their pits, a reaction will probably set in. Table sorts are worth £3 los/and seed kinds the same as reported last week. ; Peas and horse beans are unaltered, but linseed is weaker, heavy shipments from India having arrived in Australia, and it is stated the price is £1 to £1 5s lower than New Zealand-grown seed. Cowgrass was on offer, and up to.Bd was paid fora good clean line. White clover, Is for good colour and clean lots. * . .

ASHBURTON

Wheat.—There is little enange in the position since our last report. Offerings by growers continue on the light side -while merchants are not operating heavily. Milling Hunters and Tuscan may bo quoted at from 3s od to 3s 6d on trucks; Pearl up to 3s 7d for choice Oats.—For A grade Gartons, Is lid on trucks; and for B grade, Is lOd may be quoted as to-day s value. Ihiiis, Is lOd to Is lid. Oatsheaf .Chaff.—Market is also quiet, and prime, quality commands sos on trucks; inferior grade hard to quit.

TIMARU

Tho bottom has temporarily dropped out of the local grain markets. Very little- grain is offering, and there are practically no sales. Cheap freights seem as far off as ever, and this is preventing a lot of shipping business which would otherwise be done. Some •wheat has been sent Home in tho Zealandic at a 25s freight, but merchants ccnerally are not disposed to slup at such a freight.. Only nominal quotations can be given—3s 6d to 3s 7d for Tuscan and Red Chaff, and possibly ~s 8d for prime Velvet delivered Tunnru. Oats are also very dull of sale, values being Is 9d to Is 10d for B grade, and up to Is lid for A grade, country stations. . v . Oatsheaf Chaff is offering f«ely.w» only prime lines can be sold, lneso are worth £3 per ton at country stations. , , , The potato market has cased bacK for til f>Ut prime linos in' new sacks -.villi Government graders' oertmcato. These arc worth up to £4 5s per ton; othisr lines aro worth. £3 to £3 ss. Some tubers shipped from Oair.aru were rejected at ilelbouruc.

DISPLENISHINCr SALE OF AYR-

U,OIiJU SHIKE CATTLE. Messrs H. Matson and Co./sold by miblic auction on' Thursday, on behalt JrfMr Morgan 'William*,- of Ivampoi Island, the whole of las herd of Ayrshire cattle. There was a large attcnoance, including buyers from Banks Peninsula, Vshburton, and other parts of CanVerKnrv The principal sali« were:— Sws: To 31r l'arlane 6 lOgs, 12*85, llif'jlr it Hartley, 9J p;Mr W. F. cfecin. Kte*; Mr W.;u: Mawhall, llics- Mr W- Parnham, 7J-s; Mr J. C. Donch, 14igs; Mr-W. A. Morgan, 15 heifer calvos. Other cows brought 7jgs to lljgs. Balls brought 4ra ogs, and ojgs. In addition to the above there were sold over 41) cows at ogs to 7gs, and 7 sows at £4 2s 6d.

CLEARING SALS

The New Zealand Farmers' Co-op-Association. Ltd., conductsvJ a clearing salo at Coo"s Ford, fxweil, on account of Mr A. DuS, on Tuesday. The principal feature of the sale was ;hu dairy cows. Mr Duff's herd being generally known as ono of the best in. tho district Thero was a large attendance buyers, and bidding was very brisk. Following are some of the figures :—2O dairy cows sold at an average of £11 7s 6d each, the highest pnee obtained being £14 10s; 3 heifers £6 to £7 Us, ten to fourteen months heifers £2 17s 6d to -£4 os, bull £8, draught hors-cs £36 and £40, trap niare £11 10s.

WOOL SALE.

The New Zealand Farmers' Co-op. Association held their monthly wool Rale on Thursday. They catalogued 121 bales wool, mciudintj 64 bales of fleece wool, 57 bales crutchings, etc., which

werf all cleared. Bidding was very spirited. Following are some of the figures realised:—Halfbred fleece wool from BJd to lid, crossbred flceco wool from 7jd to Ojd, merino fleece wool from 8d to 9id, hab'bred cnitchings from 0d to Bd, crossbred crntcbings from 5d to 7jd.

PRICE OF EGGS.

(SPECIAL TO '-THK PRESS.") D-C.YEDIN, J"l? 12 " The price of fresh eggs has gone up to Is 10tl per do&en, while the price ot preserved eggs is now Is 3d.

In addition to the sales already reported. tho following fat, sheep wero sold at the Addiufton Yards on Wednesday:—Wethers—For J. Malcolmson (Irwell), 47 at 20s: client. 100 at 1/s to 17s lid. Ewes—W McMillan (Irwell), 5.5 at 20s 9<l to L'ss Id; J. Stevenson (Flaston), 30 I>owns at ISs <3d, 31 Border Leicesters at 21s Id; O. Harper (Blackthorne, Asliburton), 120 rft s l.'s 3d to 13s 7d; C. J. Peter (Anama), oJ at 16s Id to 18s 8d; R. Oakley (Overdale, Rakaia), 6G at 16s Id to 16s 2d.

NAPIER FARMERS' CO-OPERA-TIVE ASSOCIATION.

(PBESa ASSOCIATION TEI-KGHAM.) MAPIER, July 12. The Napier Farmers' Co-operativo Association mado a profit last year ot £28,583 12s 7d, and at the annual meeting it was decided to pay a dividend ot 8 per cent, on paid-up capital, a bonus of 12J cent, on commissions contributed by shareholders, a bonus of - per cent, on goods purchased by shareholders, and a bonus of 5 per cent, on salaries. £1000 was added to the reserve fund, and tho balance carried forward. The diairman, Sir It. TO- l>. ' McLean, in congratulating tho shareholders, mentioned that twenty years ago the Association had a hundred members, while now it had over 1000. Mr J. W. Harding was elected chairman of directors.

STOCK EXCHANGE OF CANTERBURY. The following sale* were reported on 'Cha?iß« yesterday:—Permanent Investment (Canterbury), £10. The latest quotations ar»: — £ c. d. BANKS— Bank of Australasia 120 0 0 National of New Zealand, Ltd... G 3 6 Bank of New South Wales .. 4G 0 0 New Zealand .. .. .. 11 7• 0 Union of Australia, Ltd. .. 63 0 0 i>nEWERIES— Crown Brewery .. .. 114 0 Manning and Co. .. .. 4 2 6 Ward and Co 6 2 0 COALTaupiri .. .. ..120 Wcstport ... .. .. 17 9 Wc-tJfcTt-Stockton ... •• 0 2 0 FINANCIAL— Christchurch Building Society .. 11 10 0 Daigety and Co. .. .. 6 7 6 Mutual Benefit (Canterbury) ..11 5 0 National Mortgage .. .. 4 S 6 N.Z. Loan and Mercantile .. 010 0 K.Z. and River Plate Land .. 2 0 6 Permanent Investment, Cant. .. 10 0 0 GAS— Ashburton .. .. .. ClO 0 Auckland (£5 paid) .. .. 8 9 0 Christchurch .. .. ~ 817 G Feilding .. .. ..123 Hokitika .. .. .. 515 0 Timaru .. .. ..9 10 0 Wellington (£lo paid) .. ~ 18 5 0 Wellington (£8 ISa paid) .. 16 10 0 INSURANCE— Farmers' Co-operative .. .. 513 S National of New Zealand .. 119 0 New Zealand .. .. .. 417 0 South British of New Zealand.. 81C 0 Standard of New Zealand .. 111 3 MEAT— British-N.Z. Meat .. .. 1 10 Britiah-N.Z. Meat (15a paid) .. 016 0 Canterbury Frozen Meat , .. 8 0 0 Canterbury Frozen Meat (pref.) Ss* 0 Chxistchurch Meat Co. (£lO paid) 15 2 6 Christchurch Meat Co. (£5 paid) 710 0 Christchurch Meet Co. (£3 paid) 410 0 Christchurch Meat Co. (£3 paid) 3 00 Gear Meat-Co. (£1 paid) .. 12 15 0 Gear Meat Co. (£1 paid) .. 3 5 0 Wellington Meat Export (£5 paid) C 5 0 Wellington Moat Export (£4 paid) 5 4 0 Wellington Meat Export (£2 12a 6d paid) .. .. .. 3 0 0 MISCELLANEOUS— Booth, Macdonald xnd Co. .. 10 9 D.I.C. .. .. ..063 D.l.C...(preference) ..,.1 ; 2 9 Cant. Farmers' Co-op., Timaru 2 19 0 Mason, Struthers (£1 paid) .. 1 5 0 "Mason, Ste-uthere (14s paid) .. 017 0 Milburn Lime .. .. .. 119 0 Golden Bay Cement Co. ' ~126 N.Z. Drug Co. .. .. .. 211 0 N.Z. Farmers' Co-op. .. ~ 210 0 N.Z. Farmer*' Co.op. (pref.) .. 5 5 0 • N.Z. Portland Cement .. .. 17 0 N.Z. Paper Mills .... 119 Whitcombe and Tombs .. .. Cll 0 SHIPPING— N.Z. Shipping Co. .. .. 14 7 6 Union Steam Ship • .. ~ 2 5 6 WOOLLEN— Kaiapoi , .. .. .. 5 5 0 Kciapoi (preference) .. .. 5 5 0 Mosgiel .. .. .. ..376 Oamaru .. .. .. 17 8 Wellington .. .. ' .. S 7 f

AUCKLAND STOCK EXCHANGE.

(PRESS ASSOCIATION TELEGRAM.) AUCKLAND, July 13. The following business wae dose at noon to-day:—Victoria, 6£d; Waiiangi, 6}d; Tftlieman, 40e 3d, 40a; Waihi, 3Gs 3d; Grand Junction, 21s 9d; Northern Coal, Us 10d; Weatport Coal, 28e; Auckland Trams (pref.), 23s 6d; ordinary, 24e Gd; N.Z. Portland Cement, 25s 6d.

The following business was done at the 3.15 p.m. call:—Waihi, SCs; Waihi Grand Junctions, 21s 9d; Westport, 28s; New Zealand Paper Mills, 21s 9d.

WELLINGTON STOCK EXCHANGE. (press association teleokam.) WELLINGTON, July 12. Sales reported to the Stock Exchange today were as follow: —New Zealand Paper Mills, £1 Is 9d; Grand Junction, £1 2a; Tulisman, £2 (buyers), £2 0s 9d (sellers); Waihi, XI 15e Cd (buyors), £1 16s 3d (sellers). 3.15 p.m.: Talisman, £2 03 6d (reported).

DUNEDIN STOCK EXCHANGE. (F&EBS ASSOCIATION TELEGRAM.) DUNEDIN, July 12. The following sales were reported on the Stock Exchange to-day:—Waihi Grand Junction, jEI 2s; Portland Cement, £1 Ss id; Now Zealand Drug, £2 11s. ■

MINING,

DREDGING RETURNS.

(press association telegram.) DUNEDIN, July 12. Manuherikia, 230z; Waikaia, 12oz; Electric No. 1, 17oz 13dwt; Koputai, 10oz 9dwt; Varterton, 9oz 16dwt.

CROWN MINES RETUKN.

(PRESS ASSOCIATION' TELEGBAM.) AUCKLAND, July 13. During tho month of June the Now Zealand Crown mines cru?hed and treated 1983 terns of ore, for a return of bullion valued at £-1213. Compared with a return for tho corresponding period of last year, when 1520 tons yielded £3493, this showg an increase of £720. The total amount won from the mine to date is £825,354.

WAIHI GOLD-MIXING CO.

(special to " the press.") AUCKLAND, July 11. The mine superintendent's report covering the operations in jho mine during the fourwockly perkd ended 11th uist., stales that at No. 10 level, Martha. lode, west of No. 5 uhal* -north crosscut, 90ft was driven during "the period, making a total of 419 ft. A crosscut will be projected at 400 ft. Assay sample results during the progrees of tho driving fjavo valuos ranging from Is 10d So 9s 3d per toe. On the Empire lode, the cast drive is extended a total of 395 ft from No. 5 shaft, north crosscut. In lie face, sft of very hard quartz, with a lrttlo sulphide, is exposed, and the .north -wall is in hand. Sample resume gave from Is 9d to £ 1 15s 8d per ton. The west drive is in +*6ft from No. 5 ehtft, north crosscut, A few inches of quarts only is exposed in the face. At 408 ft the lode split into small stringers, β-cd the level from this point is being driven by Buxvey lines to a point under Fool pass. .A croMCui will be thrown cut to prove whether the lode his pinched. Sample resuite have been assayed from Is 4d to Uβ 5d per ton- The Royal lode, •wesi drive, is in 17-llt from No. 5 shaft croeeeut. Sample rosnlte have given from Is 9d to 7e per ton. Th* east drive ie in 186 ft At 120 ft, tie full width of the reef i\ 6ft, and averages fie 6d per ton. At 150 ft, ti« hanging wall ie fragmentary, being- in small cubical blocks. TKs ciass of country is not generally favorable. There aro no signe of oxidation. No. 9 level: On the Royal lode, the following winxfs ar<v buir.» BUnk:—Grub pass (situated at 000 ft rtsV), 64it. Sample resul:« gave 3s Sd, 12s Sd, and 3a lid. Reptile, south-east crosscut: Work woe roeumed in.

thi? crosscut during the period, but o\vjij; to the preccEw <{ lsirge voiu.'rios c{ pis furl her cross-cut'ing had to be discontinued. It i* evident thai »ob« oihcr system of ventilation will have to bo adopted "to enable this crosscut to be pureed out further. Empire lode: Colctnnu pass has been sunk to 50ft. The value of f«h down -was. £7 Ms 10d per ton. Some sulphides a'p exposed at ilio bottom of tho winze. Paul pass has been sunk to 106 ft, and tho following values were obtained:—At 90ft down. XI J2e sd; at 95ft, 16s: and *t 9Dft, £3 Ss lid. • The north crosscut, from '.he east end of Empire lode, has attained a to'.&l of 376Jft, and connection is established with the east drive on the Martha lode. Tho country is a hard, undecomposed acdesite. At 344 ft there is a vein of calcite worth 12s 5d per ton. Edward lode: Trout pass ha? been sunk a total depth of 133 ft. At points in this winzo sifrns of oxidation. are seen. Assay values ranged from la i<l to S<* 7d per ton. Perch pass: M POf. down the !ode is Twinp crosscut, and Ztft of roof is exposed, with thewesi wall in hand. Twenty feet wca sampled in equal sectiona, with the following result.", measuring from the west wall:—6 to 4ft, .11 Ss 6d: 4 to 6ft. £2 11s 8d: 8 to 12.'t, £1 183 8<1;,. 12 to lCft., £1 9s B<l and 16 to '.'Oft. £2 1* 4d T>er ton. Salmon paes crosscut has now exposed 22ft of reef, with the east wall only in bund. Tho following are the value? of er.ch section sampled, measuring from the oast wall:—0 to -Jft, £15 5s 3d; •t to Bft. Gs Cd: S to 12ft. £2 11s Id; 19 to lGft, £1 ISs 4d; 16 to 20ft, £3 16a 3d per ton. crosscut to Royal lode: Thia was extended 25ft, making' a total of "If*. At 69ft a portion of the Royal reef sft wido was passed thro-ugh, worth 13s 5d per ton. Xo. 8 level: Welcome lodo, centre eect'cn —Driving is m progrese eest and west of Tn'.ip crosscut, 17ft bein;; driven cast and IPft vvost. At 10ft east tho valuo is ISs per ton, and at 10ft west woTth 3s.ld per ton. No. G level: Royal lod<\ east of Adder crosscut—This wan advanced 37ft, ranking a total of 107 ft. The following sample r"*ni!ti3 have been obtained:—At 68ft, worth £2 11s 7d* per ton, cor'.'h wall soon; at 78ft worth £3 llfl fkl per tan, noTtlv wall seem;' at 96ft worth !3s 10d pcx toil, quartz and oour.fry. Batches of rich sulphides are in evidence ilong the level.