MINING NEWS.

Dominion, Volume 4, Issue 1188, 25 July 1911, Page 8

MINING NEWS.

WELLINGTON shake market. Extreme dullness was the feature of the market yesterday. The weather and the reports of a pending latour strike in Waihi had a very depressing effect. The Waihi flrnnd Junction is shutting down, and this will probably force tl'.e hands of l.!ii! miners. The transactions recorded yesterday were a? under ■- New Sylvia. 3s. 9rt. (second call). Tali-man, 51s. (second cull). Waihi (Irand Junction, 275. (second nail); 2Cs. 9d. (third call). W.iiti'.ngi. 3=. 4d. (third call). The buying and selling quotations wrrc as under:—

TALISMAN CONSOLIDATED. The report of the Talisman Consolidated, Ltd., for the year ended February 28, 1511. states that tho shareholders have been kept advised as to the result of development work by press notices, circular.;, and the usual quarterly reports. During the year a total of 41Slft. of development work "was carried out, which resulted in the opening up of an additional 59,815 tons of ore, and after deducting 45,850 tens of ore treated, yielding an average of £4 10s. Bd. per ton, the ore reserves actually blocked out at the end of the year under review were estimated at 43,073 tons, averaging £6 t's. sd. per ton, as against 35,733 tons, averaging £5 ICti. 3d. per ton. at February 28, 1910. This tonnage does not include ore only partially blocked out or the results of- the highly satisfactory developments since the end of the year under review. During the year ended February 28, 1911, n. total of £25,765 has been expended on machinery and equipment at the mine, including the addition of four Babcock and Wilcox boilers, co.uippcd with mechanical stokers, a vertical engiue to drive the stokers, the rearrangement of the tube mills, two vacuum filter vats, with the necessary pumps, shafting, etc., winding engine at the Woodstock shaft, a heavy Capstan engine and various other plant in connection with the permanent pumping scheme at the Woodstock shaft. The total receipts for the year amounted to £208,039, and the working expenses, including mine development and London charges, to £95,335, leaving a gross profit of £112,702. to which has to be added the balance cf £23,177 brought forward, making together a total of £135,879 to the credit of appropriation account. After writing off £2762 for depreciation of machinery and olant, and providing for income tax and colonial tax, tho net balance available is £123,658. A further sum of £SCCO has been provided out of '.snare premium account for depreciation of machinery and plant. Out of the above sum' of £123,648 the following dividends, free of taxes, have been paid during the year, namely, Is. 6d. per share on May 25, 1910; Is. £d. per share on August 27, 1910; Is. 6d. together with a bonus of 3d. per fullypaid share (and at the proportionate rate on the new issue shares), on November 25, 1910; Is. 6d. together with a final bonus of 3d. per fully-paid share (and at the proportionate rate on the now. issue shares), on February 25, 1911, absorbing £100,447, and leaving a balance of £23,201 to be carried forward. Tho scheme for raising further working capital by the issue of 45,003 additional ordinary shares of £1 each at a premium of ss. per share, as set out in the circular issued to the shareholders on May 21, 1910. was received with groat satisfaction by all the shareholders both in London and New Zealand, and the whole of such shares were applied for, and allotted, thus placing tho company in a strong financial position with ample working funds. t

Buyer". Kellera £ a d. .6 s. d. Bonanza 0 0 1* - Broniner's 0 0 o — Con. GoUUlelds - 1 0 d Kuranui Caledonian — 0 15 Slav Queen 0 2 3 New Bis liiver 3 17 0 New Sylvia - 0 3 9 Knxon 0 2 6 0 2 7 Tairna Jlincs 0 1 11 0 2 1 Tallyman — , «11 0 Waihi 3 2 3 3 2 6 AVaihi firand Junction ... 1 6 '6 16 9 AVaitauRi 0 3 4 0 3 5 ]>n.5 S — 0 2 0 Waihi-Paeroa 0 12 1 —