MINING NEWS.

Dominion, Volume 3, Issue 848, 21 June 1910, Page 7

MINING NEWS.

WELLINGTON SHARE MARKET. A fair amount of business in mining shares was done yesterday, but values generally wcro lower than at the closc or last week, lioss Goldfields fell te 19s. 3d., and Waihis wcro at £7 14s. Talismans were quiet. Mountain King shares were in demand, and sold at Is., whilo thero wore several transactions in Old Hauraki and New Sylvia. The s-ales recordod yesterday were as under:— May .Queen, 4s. Id. (fir6t call). Mountain King, Is. (third call). Now Sylvia, 3s. 7d., 3s. Bd. (third call). Old llauraki, 4s. 4d. (first call)} 4s, 4d., 4;s. 5d., 4s. sd. (second call). Talisman, 51s. 9d. (first call); Waihl, £7 145., £7 13s. 9d. (llrat call); £7 14*. (second call). Ross Goldlicldn, 20s. 3d. (first call); 20s. 4id. (second call); 19s. 6d., 19s. 6d., 19s. 3d., J9s. 3d,, 19s. 3d,, 19s. 3d. (third call). | QUOTATIONS Buyers. Sellcro. Sales. £a- d. £s. d. £s. dKtiranui Caledon'n — 019 — | May Queen 041 042 041 Maoriland 0 0 7 0 0 8 — Mountain King 00 11 011 01? New Sylvia 037 039 038 OJd Hauraki 044 045 045; Rfixon 0 18 — — ; Tnirua Broken Hills 0 13 — — Tairua Golden Hills 0 2 9 — -- Talisman 212 0 212 3 211 9 i Waihi 714 0 715 0 714 0 Waihi Reefs — 0 4 9 — ! Waihi-(l'd Junct'n 111 0 111 3 — Waitangi 0 2 5 0 2 7 — Blaokwater 111 6 112 3 — i Con. Goldliclds ...... — 110 — New Big River 20 0 — ! Progross 013 0 015 0 — Km Goldfields 019 0 019 3 019 3 STOCK EXCHANGE. (By Telegraph—Press Association.! Auckland, Juno 24. .1 Business done on 'Chaugo this morning :— Mount Zeelian (paid), Is. Id., Is. Hauraki, 4s. 5(1. Royal Oak (con.), lid. Waihi, £1 17s. fid. to £7 16s, 6d, Grand Junction, 51s. Northern Steam (con.),' 7s. 2d. Auckland Trams lord.), 235. 9d. The following bufriuesa was done at tho afternoon call to-day Waiotahi, 4s, Id. Mt. Zeehap, (paid up), Is. Id., Is. 3d. Old Hauraki, 4s. 6d. Talisman Consolidated, 525, 9d. Waihi, 1665. 6d. Waihi Grand Junction, 31s, 6d. Maoriland, 6d. I Mountain King, la, Id. Waihi Re?fs (con.), 4s. lOd. Kauri Timber (con.), 17s. 7d., 17s. 6d. Dunodin, June 20. Stock Exchange sales:— I ' Waihi Grand Junction, £1 10s. 9d., £1 i lis., and £1 lis. 9d. (forward delivery). ! Waihi, £7 14s. Sales reported:— National Bank, £6. Waihi, £7 14s„ £7 14s. Union Steam, £1 13s. 9d. . Waihi Grand Junction, £1 11b. Stock Exchange' quotations:—Dredging stocks: Blackwater, sellers 45..6 d.; Island Block buyers 3s. 3d.,« sellers 3s. 9d.; ICoputai, buyers 165., sellers £1; New Roxburgh Jubilee, sellers 65.; Otago, buyers 145.; Rising Sun, sellers £2 25.; Stanley Paraoale, sellers 7s. 6d. Mining Stocks: Blackwater Minos, sel- , lertf £1 125.; Ross Goldfields, 18s., sellers £1; Muddy Terrace, sellers £1 6s. Harewood, sellers 145.; Consolidated Goldfields, buyers 195., sellers £1 lg. 6d.; Kuranui Caledonian, sellers Jb. Bd.; May Queen, buyers 45., sellers 4s. 3d.; Old Hauraki, buyers 4s. 31d., tellers 4s. 5d.; Talisman Consolidated, buyers £2 lis, 6d„ sellers £2 12s. 3d.; Waihi, buyers £7 125., Eellera £7 14s. 6d.; Waihi Extended, buyers 2s. sd. sellers 2s. 6d.; Waihi Grand Juuction, buyers £1 10s. 6d., sellers £1 lis. Investment Stocks: Bank of New Zealand, buyers £10 45,: National Insuranco, buyers £1 95.; U.a.S. Co., buyers £1 13s. 6d.; Westport Coal Co., buyers £6 Bs.; Weut-port-Blockton, sellers 7s. 3d.; National Mortgage Co., buyers £3 45.; D.I.C. (pref.), buyers £1 2s~ 6d.; Milburn Lime and Cement (£1), buyefß £1 13s. 6d.; Mosciel Woollen Factory, buyers £3 25., sellers £3 55.; New Zealand Drug Co. (£2), buyors £2 95., sellers £2 10s. 6d.; New Zealand Paper Mills, sellers £1. 35.; New Zealand Portland Cement, sellers £2 35.; Daily Times," .buyers £22 2s. 6d,; Dominion Rubber, buyers 15s. (prein.), LONDON MINING QUOTATIONS, By Telegraph—Press Association—Copyright. London, June 19. Sharomarket quotations include:—Waihi goldmiuing shares—Buyers, £7 13s. 9d.; Kellers, £7 16?. 3d. Junctions—Buyers, 305.; sellers, 31s. 3d. ROSS GOLDFIELDS C 0.., (By Telegraph.—Press Association.) Christchuroh, .June 20. Dr. neelcy, chairman of directors oE the Ross Goldfields, Ltd., has received tho fol- ; lowing telegrams from the managing cnl gineer:— - "Ventilating plant installed, but have not found necessary to use it; will wash up on 22nd." "Everything going well, and thirty-six men are working on the face." WAmi GOLD MINING. Tho report of the Waihi Gold Mining Company, Ltd., for 1909, states that during the year 416,813 tons (of 20001b. dry weight) of ore were troated; the gold and silver gold; realised £959,593. This amount, togethor with £10,439 for interest, makes tile total grogs revenue received for tho year £970,033. Tlic l expenditure in New Zealand and London, including development work at tho mine, amounted to £363,851, leaving a gross profit for the year of £606,182, as compared with £558,141 in 1908. This sum, added to the balauce of £28,353 brought forward from the preceding year, gives a total of £634,535, Out of this the directors have provided £36,151 for new plaut and machinery, as against £41,5il last year, and written off 10 per cent, depreciation on plant and machinery/ amounting to £36,963, as against £36,374 last year. They have .also-provided £40,778 towards tho Ilora Hora Hydro-Electric scheme. Dividends amounting to 16s, per share have been. The sum of £38,845 has been reserved for income-tax in London and New Zealand in respect of the year 1909, as against £32,537. After these appropriations the balance remaining to credit of rovenuo account at December 31 was £85,071, which tho directors recommend should bo applied as follows:—To payment of a bonus of 2e. per share; to be carried to roservc (as agaiust £20,000 last year), £10,000; and .forward, £25,400. The bonus now recommended by the directors makes a total distribution of 18s. per share in respect of the year 1909. as against 17s. per share for the year 1908. Since the date of the accounts to April 16, 123,063 Lons (of 20001b.) of ore have been treated, yielding £269,210, and a dividend, No. 68, of 4s. per share was paid on March 1. absorbing £99,181. The directors propose to pay a similar dividend of 4s. per sharo on June 1, 1910, at the-same timo that the bonus of 2s. hereinbefore recommended will be payable. Some floods took place at Waihi at tho end of March, and the Victoria and Union Mills were stopped for a few days. In conscience of the.floods tho return for the period ended April 16 was reduced by about £8000. Tho ore in sight: developed by drives and crosscuts both over and under it at Deconiber 31 was estimated at 1,335,586 short tons. Besides this thero was a considerable quantity of ore looked up .in arches and pillars to be extracted gradually and at some additional expense, from time to time as the levels become obsolete. DREDGING. (By Telegraph.—Press Association.! Recfton, June 20. Reefton dredging return:—Pactolus, 330z. sdwt. for 124 hours.