MINING NEWS.

Evening Star, Issue 11318, 13 August 1900, Page 4

MINING NEWS.

The Vincerrji report a return of 30c-z lOdtrt for 120 hours' work. The Unity report a return .of 131oi for the -week ended llth August. The Alexandra Eureka report a return of 760z for the week ended llth August. The Earnscleugh No. 2 report a return of 7407, Bdwt 6gr for the week ended llth Aucust. The Empire (two dredges) report a return of 48oz 14dwt for the week ended llth August. The Success report a return of 290z 2dwt 12ax for 134J hours' work. The Golden Gate report a return of SBoz for six days)' work. The Waimumu Central report a return of 250z ldwt for 128 hours' work. The Golden Treasure report a return of 21m 16dwt for the week ended llth August. The Chioago report a return of 21oz lldwt 3crr for 128 hours' work. The Earnscleugh No. 1 report a return of 19oz 13dwt for the week ended llth August. The Molyneux Hydraulic report a return of 16oz 3dwt 3gr for toe wtek ended llth Augast.

, The Otagp report ft return of lOos lOdwt for the week ended 11th August. The , Nil Desperandum report a return of 80s 12dwt for toe .week ended 11th. August, ; ' The Dunedin report a;return of 76a 2dwt for twenty-seven hours' work. Reefton reports the following returns:— Progress mines for July: Battery, 1,6220u gold from 4,174 tons; chlorinated, 185oj! gold from 80 tons; total value, £7,053. Buller dredge, Hob lSdwt gold for 130 hours; Consolidated dredge, lloss gold for 140 hours.

Inch-Holme dredge-master reports: No dredging this last week. The men are busy fitting the new sluice boxes, which should be finished by the end of this week. An Auckland telegram states that the Whangamata Corporation during July crushed 892 tons for a return valued at £BB3.

The Nevis dredges are expeoted to start work again next week. The end of the present month is fixed as the time for the commencement qf operations by the Mokoia dredge.—'Westport Times.'

The pontoons for the Boundary Creek dredge have been successfully launched, and if the machinery come promptly to band it should not bo long before this dredge is working.

The secretary of the Ford's Creek Dredging Company informs us that the pontoons for the company's dredge were successfully launched on Saturady, the 11th inst. The Charlton Creek report a return of 8308 for 130 hours' work.

An extraordinary meeting of shareholders in the Klondyke Dredging Company will be held in the Colonial Bank Building this evpning. The return from the Golden Run's pipes is 360z.

The Chatto Creek report a return of 360z 7dwt for 118 hours' work.

In 1897 the gold yield of Klondyke was valued at 2,500,000d01r in 1898 it was 10,000,000d01, and in 1899 it had risen to 16,000,000d01. The paying portions of the different creeks are estimated to yield gold valued at about 95,000,000d01. These figures are contained in the preliminary report of Mr R. S. M'Connell, issued by the Geological Survey of Canada.

TALK ON 'CHANGE. [Bt iEoms.] The dredging business during the week has been fairly brisk, and with the goodly list of returns" in this issue of the ' Star' a mild boom may be expected. Most transactions are still being done in -working stock or stock likely to work soon. The dividend Usfc has been swelled bv the addition of Vincenb, 3s ; Alexandra Eureka, Is 6d ; Enterprise, Is ; and numerous other companies are generally about the dividend paying stage. The heaviest transactions have been in Hartleys, which, commencing at £lO ss; dropped suddenly to £9 Is, but are now strong again at about £9 10s. As Electrics show r.o sign of repeating the big return thov ere weak at 51a to 525. All tie same, they may get on to it rich again at any time. Croinweils are in big demand at £5. This claim is a really fine one, and the company should soon be a dividend-paying concern. Junctions kept unaccountably low all the week considering the rumors of her being on big gold. One hundred and thirty-three ounces for the week is Al, and I expect an immediate rise here. With all the companies round about her doing so well, it was only to be expeoted Electric Extendeds would rise. They are very firm at about 19s 3d. Central Electrics were little inquired for, notwithstanding Hartley's and the Junction's fine returns. It is whispered about that they will not start for a full month' yet. Vincents are rapidly getting weaker, and this week's return of 30ob will not improve them. lam glad to see New Alexandras doing better. Surely those who-sold at 20s- did nofc'know that she- has recently obtained pieoe of good river to work on. Manuherikias are firming in view of her early start. The success of this dredge seems assured, but investors must remember that her capital is £12,000. There should be a good demand during the week for river stocks located between Alexandra and Roxburgh. Gold Queens, I regret to say, are as yet not doing much good. The rise on Tuesday from 32s to 3&s was quite unwarranted. They must go back again, but the company should prove successful in the long run if the appearance of a claim go for anything. There has been little or nothing doing in iMeg and Annies. Second Magnetics, and Upper Magnetics. People are waiting to see how the first-named pans out. 1 hear Tacon's dredge is nearing completion. If so, we may expect a move in Cardrona stocks soon. In Coasts most business has been in Grey Rivers, Grey Consols, Pactolus, Brandy Jacks, and Foleys. lam at a loss to understand the move in the latter. Inch Valley have started again, and InchHolme will have finished their new sluice boxes by the end of this week, and be able to make a fresh start. There has been the usual demand for Waimumus, and I am glad to see that Central Waimumus ore beginning to attract attention. They are wonderfully consistent producers. Not much has been done in investment stocks. Perhaps-tie 1 Home war troubles are responsible for the lapse.

THE SHARE MARKET. The Otago Stock Exchange report the following sales -.—First Chance, 13s 9d ; Galteo More, 5s 9d ; Golden Bed, 225; Hartley and Riley, £9 9b, £9 9s 6d, £9 9s. THB EQUITABLE STCOK EXCHANGE report as follows: Sales: Central Electric, £3 2s 6d; Electric Extended, 19s ; First Chance, 14s 6d ; Meg and Annie, £2 6s; Vincent (forward delivery), £3 4s. Buyers: Central Electric, £3 Is; Dart River, 2s 6d dis; Electric Extended, 19s; Golden Falls, 4s; Hartley and Riley, £9 ss; Meg and Annie, £2 6s; Second Magnetic, £ll3s; Vincent, £3 Is; White Stex. 2s 6d.

Sellers : Al, 3s ; Ahaura River, 3d ; Alpina Consols, £l 14s; Bendigo Gold, 10s 6d; Blue Bell, par: Central Electric, £3 6s; Dobson No. 2, Is 3d; Dunedin, lis; Electric, £2 13s; Eleotric Extended, £1; Excelsior, 2s ; First Chance, 15s ; Garibaldi, 3d ; Golden Banner, 6d ; Golden Falls, 7s ; Golden Horseshoe, 6d; Golden Mile, par; Grand Junction, 6d; Greenstone Gold, 2» 6d; Grey River Consolidated, 3s 6d; Hartley and Riley, £lO ; Leaning Rock, 2s dis ; Leviathan, £2; Meg and Annie, £2 8s; Orwell Creek, 6s 6d ; Otama, par ; Reeves's Proprietary, 21s ; Richards's Beach, 26s ; River Molyneux, 10s; Roxburgh Jubilee, 6s 6d; Sailor's Bend, £2 10s; Second Magnetic, £1 16s; Shotover, Is dis • Triumph, 3d ; Vincent, £3 3s 6d ; "Wet Lead, Is dis ; Woodstock, 3s. * DT7NEDIK KXCHAJfGR. The Dunedin Stock Exchange report the following sales this morning, the figures in parentheses representing the highest sale* last Monday:—Cromwell, 98s 6d, 100s; Dunedin, 9s 9d, 9s 6d; Gentle Annie, 8s; Gold Queen, 32s 6d, 33s 6d (355); Hartlev and Rilev, £9 12s 6d (£lO ss); New Alexandra. 2ls; Sailor's Bend, 60s (49s 6d). Quotations: Ahaura River—Buyers, 6d dis; sellers, par. Aldinga—Buyers, par. Alexandra Bonanza—Sellers, 2s dis. Alexandra Lead—Sellers, 4s 6d. Alpine Consols—Sellers, £1 14s. Alpine No. 2—Sellers, £llss 6d. Arrow Junction—Sellers, Is 9d. . Bendigo—Buyers, 8s ; sellers, 9s 9d. Boundary Creek—Buyers, 2s 6d. Brandy Jack's—Buyers, Is; sellers, Is 9d. Caledonia—Sellers, 6d. Central Electric—Buyers, £3 2s ; sellers, £3 7s. Chatto Creek—Buyers, £1 2s; sellers, £1 ss. Clyde—Sellers, £4 10s. Cromwell—Buyers, £4 19s; sellers, £5. Dart River—Buyers, 2s 3d dis. Davis's Bend—Sellers, 5s 6d. Digger's Pride—Sellers, par. Dobson No. 2—Sellers, £1 Is. Dunedin—Buyers, 9s 3d; sellers, 9s 9d. Dunstan Lead—Buyers, £1 8s 6d; sellers, £1 12s. Eclipse—Buyers, £1 9s; sellers, £1 12s. Electric—Buyers, £2 12s; sellers, £2 13s 9d. Eleotric Extended—Sellers, £l. Enterprise—Buyers, £5 15s; sellers, £6. Evans Flat—Buyers, £1 3s. ■ First Chance—Buyers, 14s 6d ; sellers, £l. First Taieri—Buyers, 10s dis; sellers, 2s 6d dis. Foley's Creak—Sellers, 7g.

Ford's Creek—Seller*, 2s dis. Fourteen-mile Beach—Sellers,' fil 18s. Frasor Flat—Buyers, 10*; sellers,,lßs. Galtee More—Buyers, 5s 9d. ' Galvanic—Sellers, £1 2s 9d. ■ Gentle Annie—Buyers, 8s; sellers, 8s 6d. Gibb's Beach—Sellers, 4s 6d dis. , Gold King—Sellers, ss. Gold Queen—Buyers, £1 13s 3d; sellers, £ll4s 6d. Golden Bed—Buyers, 19s. Golden Falls—Buyers, 4s ; sellers, 4s 9d. Golden Glen—Sellers, 6d dis. Golden Points—Buyers, £1 2s; sellers, £1 ss. Golden River—Buyers, Is. Great Beach—Buyers, 4s dis; sellers, 3s dis.

Greenstone—Buyers, par. Grey Rivar—Buyers, 14s 6d. Grey River Consolidated—Buyers, 3s; sellers, 3s 3d. Guntori's Bench—Sellers, 3d. Halfway House—Buyers, £1 13s ; sellers, £1 15s.

Hartley and Riley—Buyers, £9 lis: sellers, £9 12s 6d. *

Island Creek—Buyers, Is dis; sellers, 6d dis.

Junction Electric— Sellers, £2 3s. Jutland Fiat (contributing)— Sellers, lg IOAd. Kelly and Casey—Buyers, 3s 3d; sellers, 4s 9d. Lady Cardrona—Sellers, Is dis. Lady Roxburgh—Sellers, par. Long Valley—Buyers, 5s ; sellers, 9s 6d. Magnetic—Sellers, £2 18s 6d. Main Lead Hercules—Sellers, 3d. -> Malone's—Sellers, par. Manorburn Lead—Sellers, par. Manuherikia—Buyers, £5 10s; sellers, Mokoia—Buyers., £1; sellers, £1 2s-6d. Monte Oristo—Buyers, 10« 6d: sellers, 12s 6d. ' • ' Nelson Creek—Buyers, 18s; sellers, 18s 6d. Nevis—Buyers, £1 sa; sellers, £1 10s. Aew Alexandra—Buyers, £1 Is; sellers, £1 2s. New River—Sellers, 2s. Ngapara No. 3—Buyers, £1 4s 6d; sellers. £1 9s. No Town No. 2—Sellers, par. North Beaoh—Buyers, 9d dis. Oceanic Steam—Sellers, Is dis. Orwell Creek—Sellers, 7s. Pactolus—Sellers, 15s. Pactolus No. 3—Sellers,, par. Perseverance—Buyers, £4 15s. ■ Reeves's Proprietary—Sellers, 9d. River Molyneux—Buyers, 8s 6d. Sailor's Bend—Sellers, £2 10s 6d. Saltwater Creek—Buyers, par; sellerß, 3d.

Second Magnetic—Buyers, £1 12s 6d; sellers, £1 16s. Shotover—Sellers, 3e dis. Sunlight—Sellers, £1 2s 6d. Trafalgar—Buyers, 3s. Tysons Beach—Buyers, 8s dis; sellers, Is 3d dis. ' Upper Magnetic—Buyers. £1 4s; sellers, £1 6s. . • » i

Victory—Buyers, 2s 6d ; sellers, 3s. Vincent (ex div.)— Buyers, £3 0s 6d ; sellers, £3 4s.

Vincent Extended—Buyers, £2; sellers, x>a OS od. Waikaka Porks—Sellers, par Waimumu—Buyers, £1 &, ; ge n wg £1 7g VV aimumu Central—Buyers 5s Waimumu Extended-Buyers," 14s; sellers, 18s. ' ' Waimumu Queen—Buyers, par. Westland—Sellers, 6d.

THE RESULTS OF DREDGING—A SIX MONTHS' RETROSPECT.

[By Andrew L. Foqo.]

Although at present there is somewhat of a slump in the dredging market, the returns obtained by the majoritv of the working dredges for the six months of the present year go far to show what a substantial and splendidly-paying industry dredging really is. Many new dredges will bt at work for certain during the next few months and as far as theKawarua and Molyneux Kivers are concerned, success may be said to be almost a certainty. The latest acquisition to the dredging fleet—the Cromwell—m spite of all the croaking of those people who as a class are very fond of writing to the papers under the " One who knows" style, has turned out a splendid success, and there.is hardly the possibility of a doubt but that her neighbors, when they start, will do equally as well. The Gold Queen, at Koxburgh, will; it is generally admitted, when she gets thoroughly well opened out, do well, and get good returns. Splendid returns were obtained in the claim (now the Endeavor) above her, and in the Ettriok, below her. Both these claims, even when worked by small dredges, paid handsome dividends. The Manuherikia will start in * few days, and from all accounts is going to be a second Hartley and Riley. Personally, I think this is reckoning on too much. The Meg and Annie, on the Kawarua, should do well, and If she does will do a lot of good, and put "life" into all the upper Kawarua stocks. On the whole, then, the outlook for the next year or so is extremely healthy, and from manv of the Cromwell to Clyde gorge claims sensational returns in many cases can almost of a oertainty be expected. The only dredge on the river whioh as yet has not been a great suocess is the New Alexandra, but even her returns warrant the supposition that she will eventually prove an extremelv payable property.

The following table shows the capital of each dredge and the amount of dividends declared for six months of the present year viz., January to June 30 only. The yield of gold per dredge is not stated, as only dividends, which after all are the true test of the industry, are useful to show if *ho embarkation of capital into fresh ventures is to be recommended. In taking the capital of each dredge as its faoe value, it must not be forgotten that in nearly all cases the vendors' interest adds on more on which dividends have to be paid, so that in reality the capital invested is really smaller than this table represents it to be*. In the case of a dredge starting in debt, as.many have done, the gold obtained has paid this ofjf, and would show, if not required for this purpose, a, larger dividend:

Twenty-one dredge* 158,876 42,118 This represents a return of 27£ per cent. for the six mouths on the capital (face value) employed.

The Otago, Sunlight. Golden Point, and Dui'.edm dredges are also on the river. The threo former have paid handsome dividends per share, but none so far this year. The Point is the only other dredge that has not paid a dividend up to the present. The Molyneux Hydraulic has also paid handsomely. I have taken no account of the Manuherikia and "dry land " dredges in Central Otago. THE HARTLEY AND RILEY CLAIM. .TO THE KDITOII. . Sir, —The writer of 'On 'Change' in your mining columns mentioned that the Hartley and Riley claim had seen its best day. Sir, I am a prospector and miner of thirty years' experience on the Molyneux, and I can say that the above claim can yield rich returns for years and years. I have not the slightest interest in the claim, but I know it as a long way the pick of the river. In my opinion. the dredge has never touched what I consider to be the best part of the claim.—l am, etc., ' CbomweluAuguat 11.

H M ™ •o'B a a Name of Company. Capital. •£ £ Chicago .. 5,000 260 Clyde ,. 4,000 700 Electric . 26,000 5,200 Empire . 5,000 1,000 Enterpris» . 2,000 800 Brans Flat . 2,800 480 Charlton Creek ■■• 5,000 250 Golden Beach . 13,000 650 Golden Treasure' . 2,876 1,766 Golden Gate . 2,500 2,750 Hartley and RHey .. . 6,500 16,250 Inch Valley . 5,000 750 Junction Electric .. • 26,000 4,550 Lawrence . 1.500 235 Matau . 7.000 2,100 Magnetic ...' . 7.000 350 Perseveranoe . 14,000 1,400 Tuapeka . 2.800 420 Success . 2,400 840 Vincent . 5,500 687 Waimumu . 7,000 700