COMMERCIAL.

Evening Star, Issue 8279, 26 July 1890, Page 1

COMMERCIAL.

MINING NOTES. The excellent reports that continue to be received from the faunrise Company’s mine, coupled with the fact that work is about to be commenced in earnest, and on an extended system, by the Premier Company, show that the Macetown reefs, by the richness of their stone, are about to again force themselves into promt nence. The Sunrise Company has attracted a good deal of attention locally, and its fame is beginning to spread. The crush* ings from this mine (formerly the Keepit - Dark) have never been less than loz per ton, and have been as high as sos. Th(‘ company hold about fifty acres on the line of reef, and the first work they did was to put in an adit to cut the reef some 250 ft below the Peak, and the reef was got at the point calculated upon. The reef was then driven on some 250 ft. and in some places it was found that it was the cap of the reef that was being worked upon. Having proved by sinking that the reef went down strong and carried good gold, as the last crushing of 2oz sdwt per ton showed, it was thereupon decided to put in a fresh level to give 160 ft to 180 ft of backs under the old workings. This adit was begun on the line of reef, and is now in 511 ft. From time to time we have reported on the work done in this level—how, after driving straight ahead a shoot of stone, which (according to the mine manager’s report for the week ended the 19th inst.) has for 61ft continued to prospect well, gold being freely distributed all through the stone, and the reef averaging 3ft in width for that distance ; and the fact is worth mentioning that the reef is strong in the face. It will be understood that this is an entirely new shoot as distinguished from anything met with in the upper level, the shoot of stone worked on last year lying some 200 ft ahead. The winter has not interfered with the working of the mine, provision having been made for continuous working in the severe weather by covering the paddock and tramway, and having the men’s huts connected with the sheds. From the base of the mountain, near the Premier battery, a level might be put In which, up to the present workings, would give approximately 3,000 ft of backs. The company are negotiating for the purchase of a battery, and it may be gathered that this is a step fully justified; for as far as can be judged of reefing, past experience and present indications warrant the conclusion that this mice will become about the most permanent one the district has yet seen; and, as further showing their faith in the mine, the company intend in good time to construct a tramway from the mine to the battery.—* Lake County Press.’

STATISTICAL. The postal revenue for the quarter ended June 30 at the chief centres was Auckland, L 6,047 ; Christchurch, L 5.141; Dunedin, L 4.846: ■Wellington, L 5.768. Total for the colony, L 47.628. as against L 44.948 for the same quarter of 1889. , The telegraphic revenue was Auckland, L 8 958 ; Christchurch, L 3,781; Dunedir, L 4.281; Wellington, L 4.115 Total for colony, L 24.981, as against L 23.991 for the sama quarter of 1889. . , The money order business shows that the issues were L 147.886, and the sums paid L 183.574 ; while the corresponding figures for 1889 were L 144.837, and L 133.642, respectively.

The savings banks’ deposits totalled L 434.892, and the withdrawals LW3,276, against L 879,034 and L 355,286 for the corresponding quarter of 1889.

NSW XK.VLAND REFELICUiK.A.TING COMPANY. The directors’ report for the year ended 80th June, 1890, shows a balance to Credit of profit wnd loss of L 2.588 19a 10d. Out of this they recommend the payment of a dividend at tbe rate of 8 per oent, per annum, which will absorb L 1.920, leaving L 468 19s lOd to bo carried forward to next year. There were frozen during the year and shipped from the company’s works 332,333 carcasses of sheep and lambs, and 812 2 carters of beef—an increase over last year of (,829 sheep and lambs, and a decrease of 3.150 Saarters of beef. There were in store at 30th une, waiting shipment, 30,890 carcasses of ■heep and lambs, and 287 quarters of beef, which will come into the returns for next year. At Camara there were frozen 119,307 carcasses, and 312 quarters of beef; at Burnside 113,206 carcasses. Satisfactory as these figures are, they would have been still more no had there not been an unfortunate scarcity of tannage daring the year, which necessitated frequent stoppages ot the works and consider able unremuueiative expenditure. The directors are glad to think that this will not occur again, seeing that large additions have been and are still being made to the steam tonnage employed in the trade. With the view of keeping pace with the anticipated largo expansion of the trade, the directors have purchased the ship Ottolina, of 1,250 tons register, and purpose fitting her as a freezing hulk at Port Chalmers with the latest and most improved machinery. They hope to have her ready to commence freezing early next year.