MINING NEWS.

Dominion, Volume 4, Issue 1063, 28 February 1911, Page 8

MINING NEWS.

■ WELLINGTON SHAEE MARKET. : The dullness of tho mininc sharo market was intenelfled yesterday, and. to make sales, coneiderabio concessions hid to be made. The transactions recorded were as undor:— . • • Now Sylvia. 2s. Bd. (third call). , Talisman, «s. 3d. (flret call);. «s., 455, (third calD.r . Waihi, 70s. 9d., 70s. 9d.-(soqond call), ■ The buying ar.d scllim Quotations were as under:— ■ ■■ ■ • ■ . ■■ . ' *.": '' ■■ ■■ . ■ Buyers.. -• Scllorn. ~j •; •_. • •■ . . £ S.d. £ s.d. Kiiranul Caledonian .....! —. ' 0 14 May.Queen ....:...:. 0.110. 0 2 0 M0n0wa1.;...: ;. — 0 3 0' Now 5y1via , ..,".:., — 0 2 9 Old Hauraki 0 2 1. 02 3 Saxon ...;....;.;.'...:...;........ 0,2 2 0 2 3 Talisman.;. ; 2 4.6 2 5 3 Vict0ria,.'...;....:.......,....;. 0 10 0 2 0 Waihi...:.......... \3 10 0 3 10 9 Waihi. Grand.Junction ".:.•• — 16 0 Waitinsi — ' 0 2 1 Wnteaman ...7.7 ~ 0 2 6- 0 2 10 , The Wellington Stock Exchango received the- following tcleerara yesterday from the Old Hauraki:—"solb. picked ; ptone North block, 400 ft. level, gold showing." ' ' STOCK EXCHANGE.. ; (By TelcEranli-Profiii. ; AEsoclatlon.l . : '.'Auckland, February 27. Business dono oc 'Change this morning:— Sylvia, 23. lid.; 2s. 9d. • . ■ . Hauraki, Is. 9d.' to 2s. 3d.' ■' , Crown, 4s, ■ . ■ . , ' i Golden Belt'(paid),'<l. ' . ' Talisman, £2 4s. 9d, '. Walhi, £3 11a. 3d. and £3 lCs. 6d. .Grand Junction, £1 "Ca...'£l ss. 9d. ' Tho ■ folloiririg' business was dono on the Exchange at thn 3.15 p.m. call to-day:— 1 New; Sylvia, 2s. 7d. Waiotahl. 3a. U. Mount Zcohan/4Jd., <d. Old Hauraki,-2s. Id., 2s.\ Mount ..Welcome, Id. i ■•' ■"• ; Waihi, £3 IC3. 6d.. £3 10s. 3d.," £3 10s. - Waihi firand Junctinn, £1 6s. 9d., £1 6s. 6d., £1 ss. 3d.. £1-53. 6d.. £1 ss. 3d. Golden Cross, Bd. Talisman Consolidated. £2 4s. • • ■ Zealand-Crown, 35." lCd. ;. .. ' National Bank, £6 Is. 6d. . ' Northern Coal, , 9s. 2d. ■•■.... Chrlstchurch, February 27. Tho following sales aro reported on tho Cantcrbnry Stock Exchange:— Taupiri Coal, £1 Is. 6d. Talinmnn Consolidated, £2 ss. 3d. Waihi' Grand Junction, £1 63.

Dunodln, Fobronrv 27. Ths following aro th» Stock Exchanso Quotations :—

Storks :-Go!don Bed. tellers |7a.; Hartley and Jti!oy. buycrr 135., fellers 18.i.: Ladynmlth. sellers 2?. (dR)j Stanu; herlMa. sellers 11s.; No Town Creek, buyore ss. 6d.: lilso nnd Rhine, toilers .£! l<0.: Kisinrr Sun, buyer* £2 25., nc'.loro .£2 4s. Mlninc fitockßr-Kuranul Ca!odoninn. huvor; Is.; Now Sylvia. ocHcrn 00.: Old H.iiifnki. buyor3 25.. rcUcn'&j 6rt.; Watohman. n nyCT ?ij 4s .' 6oUc " 5p - 1m, ' Tnlirirau nnnwlidated. buyi'ro £2 i?~: Wnili!. biiver.i £3 10s., wUcra .?J lPij. 3d.; Waihl Grand Junction, buyers £1 55.. fellers .fl ss. 6d.Investment Bask. r«ll--6 Js' 3 i : N-; 1 '"":"'- Insurance, buverg •?i V s -'j Inr-uraDre. sollcn £4 3s. 6d.: St.inrtnrd Infurotice, buvere f.l jKi.Now Shinplss Co.. buyprn £11: Union S.S. Co...buynr.i £1 17s. 6H.. sel!«ra fl 17g. 9d.; Mi'.bum Lii>'o an 4 Ocmont (fit ■ huycre £2 On. 3d., ccilera £2 li. 6d.; KZ. TlruK Co:. Ltd. (£2), buyers £2 B*.; N. 7. Paiw V\\\t, bnyors £1 3s. 3d., ssllcru £1 ». 9d.; Donagliy'a Ropo and Tvrinc, ecllcrs

Stock Exchanp , ") slice reported:— Xew Zcal.ind Dniß. £2 Bs., £2 Bs. It.inlt of N.Z., £11. .

VTaihi Grand Junction, £1 55.'9 d., £1 65., £1 03. 9d.

DREDGING. IBy \««ndatlon I _ ' - . . ' RcoHon, February 87. Hccfton returns j-Pactolus, 240k.< for lMr hours' workinc; Worksop, 530z. 16dwt.-for 130 hours..- ... '• , .; WAIHIMINE. WELLINGTON'S. REQUEST FOE A COMPLETE' ltEPOBl". ißy Tclccraph.—Special Correspondent.' Auckland, Fobruarr 27.' With reforenco to the resolution of tho Wellington ehareholfora £n tho Waihi Company desirins; a cbmplcto renortupon tho mino.by 6omo independent mlnlnc englnecr, It i 3 stated hero by practical minors . and authorities on Uio . peculiar conditions of local mining that such a ro-. nort from a nractical standpoint would bo next to useless. Tho most experienced mino manaser or' miner'in existence can* not toll, what might occur a foot ahead in the auriferous rock during tho courco of development, and prophecy in this connection is. but theory, and theory resolves itself' into (fucsework. Tho main and indisputable Doint is this: If a mining engineer wcro engaged to alvo a complete' report on' tho mine, it would at least take him threo months, with the assistance of a staff, to gather data and compile- his report. When.he had accom. pllehod this his ronort would bo nractlcally worthless, for during tliat three months so rapid aro the chanec3 which, occur as developments proceed in tho various points of operation that ho would really havo to commence his report all over again—an impracticable procedure, of course. Tho fact muet remain that such a report would probably plvo a very inadequate and unreliable idea of tho true state of the mine by tho time the report was published, and as already pointed out the, future predictions aro practically, valueless. Captali. Eichard emphasises this fact when ho states that ho could not klvo a deflnita opinion as to tho prospects at No. 10 level without moro information than was available, and also that there was not yet rufllciont ecological data for tho determination of the future prospects and value of tho mine. In this connection It will ho seen that tho freons than helpful to 'shareholders, sett'lns up a condition of market fluctuation which culminates in mcro stock exchanito it.imblinn. Captiin Richard's statement with reference to tha poor ions wrm-ring bo. twciij hydroirencUo nni , . pncumocenpijo oro is but theirctiMl i.,«milatlon. n'is corrobora'ion of official estimated oro reFerves" is of mueli moro value to shareholders. Thero is ample icopo for linrl. r.ontal ernloration 5.1 well ?« ""linitod deep sinkini; areas in tho Waih) Company's '.property, nnd who can toll wh.-vt Mich einlorafion, may lead to? What i* Tea-Uy -needed is activo development nna not theoretical reports.