MINING NEWS.

Dominion, Volume 3, Issue 683, 7 December 1909, Page 10

MINING NEWS.

- WELLINGTON JOTING MARKET. There were - comparatively few sales recorded .yesterday, as the following'.will'Bhow:—-: 'Talisman, £2 3s. 3d. (first call): £2 3s. 6d. (second call). • . ' •' Waihi, £9 14s. 6d. (second call). • Waihi Grand Junction, £1 16s. (first call);'£l 155.. 9d. (second call). ■. ■ Waitangi, 2a. 6d. (third call). '■ Consoliaated Goldfields, 18s. '3d. (third call). ' QUOTATIONS. ' I The latest quotations, with last recorded sales, were as under:— •

• . , STOCK EXCHANGE,-, J IB» Telccraph.—Hrens. . Auckland, December ij6. ■ Business done at this mornlßSTß'-; , te'll , 'bf 'ftho Stock Exchange included:— Saxon, la. -Id, - . Waiotahi, Js. lid. , -■*>: . , .Consolidated, 18s. 4(1, '. P'' ■ " ' ' i Hauraki, Is. ,6d. to la. 9d. ' ' ' Waihi, £9 : 195.; - ' Grand. Junction,' 365. 3d. ' • The following business was-done at-the afternoon call:— ; Bonanza,'4d.j ... ... ; May :Queen, ,3s.V . 't,..., . Monowai, .Is. 2d.. , , ; Waiotahi, ss. ' "V 1 - ■ -j . . . Old, Hauraki, Is. 8d! • ■ : Talisman; Consolidated, 43s. 1 ' 6d..' 445:, 44s'.'3d. Waihi ' Grand Junction, -365. 3d., 365.,-'3ss-';9d, ■:355.' 6d. . ,v. -' ■ 'Waihi Extended, 3s. Bd. , r ' ' Auckland Tramways (ord.), 21s. 3d. ' r ' New Zealand Cement, 38s v .'.'.l" □linedin, December 6. ; Stock Exchange sales:— .' ; ■■■•■; ',Muddy' Terace, 295. 6d., 29a. 9d., 30s. - National" -Insurance,: 3d.-.", ! Salei -reported:— - ' '• . . • Waihi .Grand Junction, 365.,. 365., 365. 3d;, 355. 9d. -Golden Bed, ,16s. .Waihi,"£9,. 16s. ; ■ ■".Muddy Terrace,'-295. 6d., 295. 6d. '' ' , '. Stock 'Exchange' quotation's:—Dredging • stocks: Alexandra Eureka, sellers 35.; Blackwater, buyers 4b. '3d.; Electric,' sellers ,4a.j iGolden -Bed, buyers' 175., sellers 17s. 6d.; Hartley and. Riley, buyers 13s. sellers 15s. 6d.; Koputai,'.buyers 235., sellers 275.; Mystery -Flat, buyers £1-45., 'sellers £l,10s.; Riso and Shine, buyers £1 15s. " Mining stocks: Muddy Terrace, buyers £1 9s. 6d., sellers £1 lis. 6d.;' Now Zealand Crown, sellers ss.'- 6d.; Consolidated Goldfields, buyers ■ 17s. 9d„ sellers 18s. 6d.: Kuranui Caledonian, buyers Is., sellers Is. 3d.; May Queens, sellers 3s. 3d.; New- Sylvia, buyers 4s. 6d.; Talisman Consolidated,, buyer £2 2s. 6d., sellers 25.; 45.; Waihi Grand Junction, buyers ■ £1,165., sellers ■£1 16. 3d.; Waiotahi, buyr.r 4s. fld.,' sellers ss. , Investment stocks: National Insurance, buyers £1.75., sdllers £1 7s. fid.; National Mortgagee Co., buyers £2 19s. (35 shares), sellers £2 19si (10 shares); Milburn Lime and Cement Co. (£1), buyers £1 Bs. 6d.,-6e!lers £l-10s'.; Mbsgiel Woollen Factory, >.buyers £2 155., sellers £2 l8.;Now Zealand Drug Co. (£2), sellers £2 75.; New Zealand iPaper 'Mills, buyers-£l Is. 9d., sellers £I'2s.; Donaghy's Rope and l'wino'Co., buyers £1 23.

, LONDON MINING QUOTATIONS. (By Telegraph—Press Association-Copyright.) London, December 6. , "Waihl.Junction shares are quoted at:—Buyers, 335. 9d.; sellers, 365. 3d. .1 . / .■■ THAMES DEEP LEVELS. ; . ' DETAILS OP THE LATEST DEADLOCK. lEy TclccruDU.—CorresDonaenu Auckland, December 5. Another ol the seemingly interminable deadlocks that have characterised the history of the Thames deep ' levels' scheme The latest trouble (again a wrangle between the companies concerned) may, it is feared in somo quarters, wreck' aschemothat on the very verge of fruition. ' The new development is" the outcome of the presentation of a.claim to the Thames Deep Levels Committee by the May Queen Gold Mining Company for £4180. The following statement on the subject has been made to the press by Mr. C. Hudson, chairman of the committee: "The account presented i-by tho May Queen Company' was in respect of money expended by them in unwatering the Thames, Ha.ura.ki shaft and deepening the same 163 feet. This amount. £4180, is. exclusive of the sum contributed by the Government' (£6000) and * the local bodies towards tho cost of the work. The expenditure was undertaken: by them under an arrangement made by the former Minister for Mines (the Hon. Jas. M'Gowan) with the Thames Drainage Board. Under this arrangement part of tho conditions undor which the May Queen Company undertook the unwatering and deepening, and obtained ".Government - assistance ' in the event of ■ other mining companies being de-

us* Thames Hauralti'shaft, they On«Ari n Gd upou , to reimburEo tho May * p £ ny ft Portion of their outlay, such fi?l - mlr oc£ i by ar. application to The -May Queen Company now Si j i , various companies interested in tnisdoep level scheme must apply, for an easement, and come before tho warden for tho pro* portion of 'cost due by them to the May Queen Company to bo settled. ■ . . . Present.position of tho deep level scheme Lf i uJ° - Ma y. Oueen, Saxon, Victoria, and waiotahi- Companies lmve signed the deed drawn «P v m ? 8 Department and the attorney of the Kuranui Caledonian Company. (Mr. I)e- - has intimated that he ha3\ cabled instructions to his London directors'to Bign, and is only waiting for more information on this claim of the May Queen Company before'affixes kis signature. It is important to mention that this deed ignores all mention of compensation tojthe May Queen Company,\and gives the iJeep Levels Board (which is -to consist of a representative .of each ,of the subscribing companies and two representatives to bo appointed oy the Government), the right to • enter ;tho Thames Hauraki • shaft, and ctimmcnco the work, l ilia deed was signed by the May Queen ComP.& n y without reservation, but they now claim that their rights under the'arrangement made by Mr. M'Gowan inust'be taken, into account, and that they will not pay their contribution to the scheme until the matter is settled. ... The; position was discussed at a meetine of tne Deep Levels Committee," continued Mr. Dud-' son,* 'when the amount of the claim was for the first time before them. A motion, offering tho May Queen Company £1000 in full settlement of Bpy claims they- may have, was carried, the May t Queen representative dissenting, and stating it v was-useless to make the.offer. There tho. matter, stands." " ■

7 f , or n „ n olBc ' a! statement of tho reasons for the May Queen Company's attitude, the Hon." b. Mitchelson, chairman of directors, stated that beforethe agreement for the' Binking o! the I Uueeir 0 f Beauty shaft wa3. entered- into, tho May Queen Company, having failed-to obtain any assistance from any. of the other companies, '?«? -5 to j 1 '? 0 ®ofornmest, which granted. a subsidy, < and m order, that the May Oueen Comm' slu b ® protected, stipulated that in tho "i any time of any company or companies desiring to work from the Queen of Beauty shaft tho question of reimbursing, the May Queen Company should bo dealt with by tho warden,' and that.whatever hia decision might be as to the equitable proportion to , be' paid by each company or companies to the May Queen Company; it should be % final. The agreement entered into between tho Minister and the Deep- Levels Oommittee contained a clause which tho company's solicitors, Messrs. Devorc and Martin, con-' sidered took away from the May Queen Company the .Tights conferred on it by tho letter from theMinister for .Mines, dated July 7, 1907, and it was not until such advice had -been received' from the solicitors that ho. (Mr. Mitchclson) became aware of tho position.' ' Ho immediately telegraphed to the Minister for,Mii:os, and was informed subsequently that tho Crown solicitor at Auckland had been instructed to preserve the rights of the May Queen Company,, and to prepare a olause accordingly. "At the meeting" of the : Deep, Levels Commit*' tee, , proceeded Mr. Mitchelson, "the companies ■ other than the. May Queen Company would not agree to submit the Question of adjustment to the warden, and a resolution was carried, 1 alone dissenting, offering ' £1000 in complete settlement. This, of course, tho May Queen Company'could not, and -will-not, accept, but are prepared' to accept' any amount that may be allocated by tho warden. At the meeting; however, on behalf of the company, I. made a couner offer for tho May Queen Company to contribute .one-third of tho £4178 expended, leaving two-thirds to bo made up by tho other Ave companies, viz.: ' The Saxon; Moanataiari (just registered), the Victoria, the Waiotahi, and Kuranui Caledonian. Thus the May Queen's proportion, would be £1349, and that of : each of tho other companies £557,- very • small comparatively speaking." Tho May Queen shareholders;, added Mr. Mit'. chelson, wore not philanthropists, and could not' be expected to bear tho whole ' cost without being reimbursed by other companies, which were going to participate! in the benefits of tho sinking of the shaft. They only wanted to be treated fairly.

: REEFTON GOLD RETURNS. • " « (Ily Telegraph—Press Association.) ' ,1, '.- ~ Croymouth, December 6. The following ,is the report of -the Reefton mines:— ■ ■ ' The Progress mines for thirteen working davs crushed 2607 tons, yielding gold'valued at £3229. and cyanided 1685 tons,i yielding' gold valued at £791. ;The - smelter worked,for nineteen days, and treated 135 tons. No: matter was tapper. It is estimated that the cuantity in.the'furnaco IS 156 Ounces. • 1 The Wealth- of - Nations crushcd., 1740 i tons,•yielding gold valued at' £2494, and cyanided 910' tons, yielding,gold valued at £536; ■ " The Blackwater mincs crushed 3260-.tons. yielding gold valued at £7103, and cyanided 2070 tons, yielding gold valued at. £934. * -.. .

'v i •• .Buyers.- Sellers. ' Sales. _ . '■ £ s. d, '£ 'a.d:' £ s. 6. Dominion- — .,:. o o 21. , — .Kuranui '0. 0 - 7 ' . . , — . Kuranui; Caledonian..... 0 1 B i 0 ,1 2 •' v— May .Queen 0 -2 10 O.J' 0 — Mountain _ King : on 5 0" ' — New,-Sylvia0 ,.'4 9 Saxon;;0; 1: 0 o'. 1'"zv'.;-v — Tairua. ; BroHeii;Hills t .:...;. O -l'-l > 0 12 ' ! — Talista'ari'.v.'.:.:.;:.;..-.:..-::::-a»j 3 :'!'M•' 2/3 6 Tangiaro. ,0.0 1 : . — — Waihi 9 14 0-, . - . 9 i'4 6 Waihi Eeefa .... — " 'OVU'. 'oLfam Wailii' Grand Junction , 115 6 15 9 Waiotahi' 0 ,'4 -9'i, iQyS^0'* Waitangi ; 0.' 2-5«'-.0':2 <6 o'.'2 6 Con.; Goldflijlds 0 18 0.:'.'-0 18 : .6- '018 3 Progress .....v.........:.-. ,0 12 0/ : 0 13 0 , ■ ' — iEosa.'Goldfields ;.0 B'-j- ■ 0 9 6 —