MINING NEWS.

Dominion, Volume 3, Issue 896, 16 August 1910, Page 10

MINING NEWS.

'.'. 'WELLINGTON SHAEE , MAEKET. . Tho mining market is. exceedingly Quiet, arid very few transactions are recorded. Tho collapse of the Eoss Goldfields-' shares is,-.-of'course,-the i feature. , Tho sales recorded yesterday were as under-.— ; Kuranui Caledonian, Is. 7d. (first call).

New Sylvia;- 35." Ud; (third call). ' W-aihi, £8 3s. 6d. (third call). Waihi Grand Junction, £1 19s. 3d. (first call). Boss Goldflelds, 4s. 3d., 4s. 3d. (first call)4s. 4d., 4s. sd. (second'call); 4s. 6d. (third call). - ' QUOTATIONS.

STOCK EXCHANGE. (By Telegraph.—l'rcsa Association.) Auckland, August 15. Business dono on 'Change this morning:— ■■•.'■ May Queen, 3s. 10a. ■ . Monowai, 2s; 3d. : '•■,■• Sylvia, 45.. : ... ■ Alburnia, 9d. to lid. :\ Boss, 4s. Bd. - - . !*•■ Old Hauraki, 4s. 114. ,-■...-, Talisman, 555. 9d. ' Tairua' Broken-Hills, Is. 83. ' Grand Junction, 4Ga; ■ ' '■ ■ ■ • ' - • - Hikurangi Coal, 19s. 6d. ,•-.-• Wilson's Cement, ord., 425. '9(1. ' . . ' Dunedin, August 15. Business, was, very quiet on the Stock Exchange 'to-day. No sales were effected, and only was reported, viz., National Bank, at £5 18s. ■' The following afo the Stock Exchange quotations:— . i. . ;. Dredging, stocks: Blackwater, buyer 2s. 6d., sellers 4s. 3d.; Golden Bed, sellers £1 Is.; Island Block, buyers 3s. 3d., sellers 45.; Manuherikia, sellers 13s. 6d.; Molyneux Hydraulic Co. Dredge, buyers 45." 6d.; Sailor's Bend, .sellers Bs. 9d. ... Mining stocks: Ross Goldfields, buyers 'is.; Consolidated Goldflelds, buyers £1 Is.' Old Hanrakii buyers 4s; 9d., sellers 55.; Watchman, sellers 25.: 4d.; Talisman Consolidated, buyers £2'145.; Wailii,' sellers £8 65.; Waihi- Grand Junctions, buyers £1.195., sellers £2. .-■ .■ . . ... . Investment stocks:. N.Z. Coal and Oil, buyers 35., sellers'4s.. 6d.; Milbiirn Lime and Cement (£1), buyers £1 17s. 6d.; N.Z. Drug Co. (£2), sellers £2 125.; N.Z. Paper Mills, buyers' £1 3s. ~-.--. . TAITAPIT GOLD'ESTATES. - Tho report of the Taitapu Gold' Estates, Ltd., for-,1909, states that, to enable tho company'to bring its farm lands into a condition so that they could be offered for :Bettloment purposes, it was necessary for a proper survey to be made, and also for roads to be: laid out, so that intending settlers, when visiting■■ tho estate, could form an idea as to the value of the land offered. The survey.'undertakim;, begun during 1903, has been carried oh

throughout that year, and was practically finished . about the end of October last, in time to prepare the plans for distribution, preliminary to the offer by' auction of the land on December 4 last. At the auction, unfortunately, no sales were made, tho demands for bush lands having fallen oil considerably during the past year or, two. There is every reason to believe that the market will recover/ and that the land will yet Bell well. The company hold biU9 to an amount of £3964 ill respect o£ land already sold, as well as debtors for £1698. and cash in hand £1781. The total financial resources of the company at December 31 last were, therefore, £7444, exclusive of its holding of shares in tho Golden Blocks (Taitapu), Ltd., which have again been valued, for balance-sheet purposes, at ss. each. Tho liabilities of thu. company, • both in 'London and Sew Zealand, amount to £709. : WAIHI GRAND ■ JUNCTION GOLD. Tho report ol the Waihi Grand Junction Gold Company for 1909 states that during the year 59,147 tons of pro of 20001b. were-milled and treated, which, after deduction of the New Zealand go'.d duty and realisation expenses, yielded bullion to the value of £96,467, to which sundry receipts have been added, making the total • re-, venue £97,518. The .working costs, including tho sum of £11,829-charged to mines development redemption, toEti.hnr with ailministration and other expenditure in New Zealand and London,, and including the exceptional expenditure in connection .with the visit of Mr. William Prank Grace to the mine prior to:his permanent appointment as superintendent, amounted to. £82.926, showing a profit o! £14,592, from which has to be deducted £1583 interest on loans, and £7279 -written off for depreciation of plant, machinery, and. buildings, leaving a net profit to credit of revenue account of £5729, which, deducted from tie balanco of £10,002 debit from the previous year, leaves an adverse balance of £4272 to be ■ carried forward. As the shareholders were informed at the annual ceneral meeting held in July last, the financial. result of operations for the first half of-the year had proved iust as unsatisfactory as for the preceding, year. During that period, while working costs wore very high, amounting to 29.275. per ton, the ore treated was below genera! average value, and a considerable loss was incurred. For tho latter half of the year'better results were obtained, owing to a , reduction in the average working costs to 23.825. per. ton,.and to the higher valuo of tho ore treated; tho effect of .which .-has beer, to: convertthe loss incurred during, the first,; half , ofrthe year into a. profit, ao stated.above, forking ' costs ■ for the entire year. 1909, when compared with 1908/ show a reduction of Is. 2d. in mining, and Is. in milling-ex-penses, while the value of ore treated was 4s. 7d. per ton higher.. ".,.-.

Buyora. Sellers. Sales. „ . , £ a. d. £ s. d. £ a. d. Dominion — 0 0 3 — Kuranui Cal«don'n — 0 19 0 17 May Queen 0 3 10 0 3 11 — Kew Sylvia 0 3 11 0 4 0 0 3 11 Old Hauraki 0 410 0 4 11 — Saxon ' ....: 0 15 0 17 — Tairua Broken Hills 0 1 I — — Talismaji : 2 15 6 Z 15 9 - Waihl. ./.... .....; 840836 Wiiihi.G'd.-Junc. .... 119. 0 119 9 119 3 Waitangi ■• ■. - . ;. o 2 4 - Watchman; ..;...; ;,-'. .023 -. . Blackwiiter ....'.'.; '' '' — l' 14 3 ' ; — ' : Oon.. Goldllelda.......'•—• 1' z 0' '— Progress' ......; 0 12 0 : 0 13 0 ; — Boss Golufldds 046047 04 6