MINING NEWS.

Evening Star, Issue 11642, 31 August 1901, Page 6

MINING NEWS.

The Charlton Creek report 330z for 133 hours. The Waimumu Central report 320z ldwt for 128 hours. The Waimumu Queen report 230z for 105 hours' dredging. The Magnetic report 15oz for 30 hours' dredging. The Central Charlton report 240z 4dwt for 118 hours. The Leviathan report 15oz Bdwt for 122 hours. The Alpine No. 2 return is 350z 2dwt and not 450z as reported in last night's issue. The Perseverance No. 2 report 720z Bdwt for eight days. The No. 1 report no wash-up, owing to the dredge being shifted. The Fourteen-mile Beach report 112oz 4dwt for 106 hours. The dredge stopped work on Thursday morning last. The river rose about 15ft. The secretary of the Gibbs Beach Company reports a return of five ounces for four days. "River rose four feet, shifted dredge into bonk, opening out." The Dunedin Exchange report the river at Alexandra to be 6ft above normal. Weather fine. The Electric Company report a return of 2040z for four days' dredging. The AVhite Star return is 7oz for 132 hours' dredging. The dredge-master of the Ford's Creek Company wires: " No wash-up ; river still high ; shifting lines to turn up creek." The dredge-master of the Waimumu Extended reports, under date 29th August: "In reply to yours of the 26th as to when the repairs and alterations will bo completed, it will be some time next week, probably Wednesday or Thursday. The boiler tubes have not arrived here yet." The Teviot Company's dredge washed up 250z 12dwt 21gr for 156 hours. The river is falling again. The Naumai report 4oz for 120 hours. The Ontral Mataura No. 2 report 15oz 4dwt 6gr for 219 hours' work. • The Enterprise No. 1 report 620z ldwt for 134 hours. The First Chanco report 14oz ldwt for 94 hours' dredging. The Paul's Beach report 13oz 9dwt for 161 hours. Our Christchurch correspondent wires that the Marsden No. 1 had a satisfactory trial run on Thursday, and is expected to start steady work next week. The Spec Gaily report 17oz 4dwt for 128 hours. The Gabriel report 19oz lOdwt 20gr for 116 hours. The dredge-master states that the dredge has been working into the flat to open up a wider face into the creek. A Greyniouth wire gives the following local returns:—Leviathan, 15oz Bdwt for 122 hours; Grey River, lloz for 100 hours. The Three-mile Greenstone report 17oz lOdwt for 120 hours. The paddock is half silted up ; hard flood ; weather unsettled. The Clyde's return for the week is 88oz. The dredge-master reports the river to be 6ft above normal. The Olrig reports 20oz 9dwt for 127 hours. The dredge-master wires that the river is up, and that he has stopped for want of coal. The dredge-master of the River Molvneux reports : " No wash-up. Mats looking well. Stopped dredging; cannot bottom ; river too high." At the adjourned extraordinary general meeting of shareholders of the" Leaning Rock Gold Dredging Company, held last evening, -a large number of "shareholders were in attendance. The result of the meeting was that the resolutions in favor of amalg-unation were carried by a very large majority. A meeting of shareholders in the Dunedin Gold Dredging Company (in liquidation) was held in the office of "the liquidator yesterday. Mr T. Brown, who presided, explained that the meeting had been called at the request of Mr Bews, who wished to submit modified proposals re the Imperial Waimumu Company, to which company the Dunedin dredge hud been sold. It appeared that Mr Bews, having been unable to carry out his original intention, now desired the shareholders of the Dunedin Company to take up a number of shares in the Imperial Waimumu. So far as the Dunedin shareholders were concerned, they had made no promise to take up shares. Mr Bews said that, owing to illness, he was not so well prepared for the meeting as he had intended. Owing to the fall in the market he had been unable to place the required number of shares, and his proposal was to the effect that the capital of the Imperial Waimumu should be written down and a number of shares taken up by the Dunedin shareholders. He had spent £4OO over and above what he had received in the reconstruction of the dredge, and that amount he would leave in the company. He was also prepared to strip himself of his vendors' shares. After the meeting had gathered a general idea of the proposed modifications it was decided that the directors of the old Dunedin Company confer with Mr Bews to see what arrangements could be made, and report to a later meeting. _ Messrs A. and T. Burt completed negotiations, on behalf of a London syndicate, with Messrs W. Weir and Hugh M'Kay, two well-known dredging experts, who left yesterday per Moura under two years' engagement for dredge erection and dredging in Ashantee, West Africa. There is evidently a growing demand for experienced New Zealand dredge-masters and engineers, as this is the third appointment made through Messrs Burt, and their advices from London speak in high praise of the capabilities of the previous dredgemaster (Wilson), who is working with satisfactory results in British Guiana. WEST COAST NOTES. [SI'ECIAI, TO THE STAR.] . WESTPORT, August 31. The Fairdown pontoons are almost complete, but the machinery is not vet to hand. It is expected that tho Wareatea dredge will be completed to-morrow week. The Island Creek dredge has been working during the week, and, I believe, washes up to-morrow. It is understood that alterations will be . gone on with as soon as the material comes to hand. As the tables are not yet erected, I do not expect this week's return will be very high. The Welcome pontoons on the Buller River were successfully launched yesterday. As there are about forty tons of machinery now on board, it should not be long before the dredge commences work. The Premier pontoons were stranded during the flood in the river, but she lies on an even keel, and it is expected that she will be relaunched without difficulty. A shipment of timber for the El Dorado pontoons arrived this week. Mr Wvlie, the engineer, goes up in the morning to choose the building site. The claim lies between Rocklands and the Old Diggings. The pontoons are 103 ft by 31ft—the largest on the river. Prior to the present flood considerable anxiety was felt about the shallow water at the entrance to the river, and fears were entertained that dredging on the upper part of the river might not improve matters. The Harbor Board met, and decided to get quotations for suction pipes and other sand-lifting appliances, for the purpose of fitting these on one of the dredge's hoppers. If the quotations from the Otis Company, Melbourne, are favorable, an order will be placed by cable message. In the meantime, it is expected that the present flood will give 15ft or 16ft at low water, with about 10ft rise at high water, so that the river will be all right for some time to come. The flood interfered with dredging operations, and I do not expect that the returns will be high. THE SHARE MARKET. OTAOO XXCHAIfoa. The following sales were effected yesterday afternoon :—Halfway House, 12/6; Nelson Creek, 60/3. And this morning: Boundary Creek. 6/; First Chance, 12/6; Golden River, 4/. DUNEDIN EXCHANGE. Sales were effected at the following prices vesterday afternoon:—Charlton Creek, 20/; Fourteen-mile Beach, 22/3, 22/, 22/3, 22/44. 22/6: Golden River. 3/9; Halfway

House, 13/; Mairoherikia, 39/; Monte Christo, 37/, 37/6; l>«ison Creek, 59/3, 60/, 59/9. This morning's sales (the highest of Saturday last being indicated) were: —Boundary Creek, 4/; Fourteen-mile Beach, 25/, 25/ (21/9); Junction Electric, 29/9; Kelly and Casey, 7/, 7/, 7/6, 7/3; Leaning Rock, 13/6, 13/, 13/, 13/, 13/ U2/3); xMeg and Annie, 26/6 (36/); Monte Christo, 36/6, 36/6, 36/6, 36/9, 36/9, 36/9, 36/9,36/9,36/9,56/9,36/9, 36/9 36/6, 36/6, Maori, 13/, 13/9, 14/; Teviot, 5/, 5/, 4/. TITB UgiTITABLB exchange report that there were no sales on 'change to-iiay. Quotations: — Ahaura River—Sel 4/. Alpine Consols—Sel 20/. Alpine No. 2—Buy 25/6, sel 29/. Lairnmuir—Sel 15/. Central Charlton—Sel 7/6. Charlton Creek—Buy 18/6, sel 24/. Electric—Buy 31/, sel 34/. First Chance—Buy 10/6, sel 13/6. Ford's Creek—Sel 10/. Fourteen-mile Beach—Sel 24/6. Golden River—Buy 3/9, sel 4/ Great Central—Sel 10/6. Halfway House—Sel 16/. Hartley and Ri'.ey—Sel 70/. Junction Electric—Sel 30/. Kelly and Casey—Sel 7/6. Leaning Rock—Buy 13/, sel 14/ Magnetic—Sel 16/6. Mannherikia—Sel 40/. Meg and Annie—Buy 19/6, sel 27/6. Mokoia— Sel 20/. ' Monte Christo—Sel 39/6. Naumai—Sel 20/. Nelson Creek—Sel 62/6. New Alexandra—Sel'4/6. Reeves's Proprietary—Sel 18/. River Molyneux—Sel 12/6. Ruby Creek—Sel 6/ preft. Sailor's Bend—Buy 26/6, sel 30/ Second Magnetic—Sel 11/6. Spec Gully—Buy 15/, sel 21/ Waimumu—Sel 25/. Waimumu Central—Sel 15/. DUNSTAN "LEAD GOLD DREDGING COMPANY. The third annual meeting of the above was held last night. Mr Alex. Sligo (chairman of directors) presided, and there were about twenty shareholders present, and proxies representing 466 shares. The annual report presented to the meeting was' as follows : "In our first report, submitted at the annual meeting last vear, it was stated that the time originally fixed for the possible completion of the dredtre could not possibly be realised. This 'has unfortunately proved to be the case to a larger extent than was then considered probable, notwithstanding the fact that your directors have devoted a great deal of timebeyond their attendance at meetings—to endeavoring to push on. the work, and a number of the directors have at various times visited the claim for this purpose. Although the pontoons were long after the contract'time in being completed, and ample time was thus afforded for getting everything ready for the erection of machinery, great delay has occurred in placing material on the claim. This has arisen in very great measure from two causes—the dilatoriness of the consulting engineer and the difficulty experienced in getting the material promptly forwarded, especially after its arrival at Wedderburn. We claim, however, to have done all we could to push matters forward, even to the extent of sometimes feeling ashamed of our importunity. Although it is not a thing to be pleased at, there may be some measure of consolation in. the knowledge that the river has not been at all favorable for dredsring in the stream until now, when, barriwr accidents, we are about ready to start, and take advantage of the more favorable conuitions, with, we hope, satisfactory results to nil concerned. Besides the de'lay in starting, your directors are also much dissatisfied that the cost has exceeded the expectations they had been led to form up to the time of the last annual meeting, and even after that; considerable expense which they thought had been provided for having cropped up unto the very last. The course of events in connection with dredging matters, the fact that we were letting our contracts at the time when the largest amount of pressure was on, and when materials had considerably advanced in price, prepared your directors to expect that the original estimate of cost would be considerably exceeded; but it had been exceeded to an extent for which they were not prepared, believing, as they did, that every contingency had been provided for when they obtained from the engineer, prior to the last annual meeting, what they thought a liberal estimate to finish everything. The great and unprecedented size and capacity of our dredge may be held to give excuse for some miscalculations, but after making allowance for that we still think there is occasion to blame the engineer for miscalculating the cost. The end, however, has now been reached, and we hope to find our dredge capable of doing all we intended, and all we expect her to do. Being desirous of putting our costly machine into cap-.ble hands, we have been on the look-out for men whom we believed to be fitted for their positions, and have appointed Mr D. Bringans as dredge-master and Mr H. A. Blatch as engineer. As the dredge is now near completion, your directors confidently expect that dredging will be commenced before the date fixed for the meeting. We have to thank Mr H. F. Nees. 1 our co-director for having on several occasions visited the claim at his own expense, and rendered valuable assistance by his advice when difficulties cropped up; while the local director (Mr J. D. Buchanan) has been very useful in supervising and reporting to the Board. Messrs Alex. Sligo and J. D. Buchanan retire as directors from the Board by rotation, and Mr James Brown retires as auditor. All a:c eligible, and offer themselves for re-elec-tion." The report was adopted. Mr H. F. Nees's report was read; questions were answered; everyone seemed confident of the success of the dredge; votes of thanks were passed; and the meeting closed. AHAURA GOLD DREDGING COMPANY. The annual general meeting of the above was held last evening. About twenty-five shareholders were present. Mr A. Melville (the chairman), in moving the adoption of the report, said that from the time when the dredge began operations up to August 3 the ground was shallow—l6ft to 17ft—and the returns poor, but since then the depth had increased to 24ft on one side and 35ft on the other, and the returns greatly improved. In consequence of a portion only of the new shares naving been taken up. it had been found necessary to finance the company, but the appeal to shareholders for guarantees had been well responded to, and the directors had been able to arrange with the bank for an overdraft of • £I,OOO. -The motion was carried. A report was read from the local director, in which, referring to an accompanying sample of gold, he said it was lead gold, and that it could be taken as proved that a continuous run of gold passes through the claim, with a possible break of about twelve chains. After a discussion regarding the power of the engine, Messrs William Fenwick and G. M. Marshall, the retiring directors, were re-elected, as was also the auditor, Air George Blyth. In answer to questions, the Chairman said that no shares in the company had been forefeited for non-payment of calls, and that the engineer had informed him that the power of the company's boiler was horse. He thought the weekly txpenses would, in all probability, average about 12oz, the wash being easily dredgeable. The local director estimated that if the dredge could be worked to its fullest capacity the returns would run 30oz to 550z. FIRST CHANCE GOLD DREDGING COMPANY. The second annual meeting of the above was held yesterday. Five shareholders present, and Mr Alfred James (chairman) presided. The report which was submitted stated, inter alia, 'that the dredge commenced working on the 4th .July last. The machinery has worked well' from the start, and in every way is a credit to the contractors (A. and T. Burt). The first week's return of 40oz 13dwt gave promise of better results than have been

realised; still, on the whole, the results have been satisfactory, as up to the 31st July a total of 630z 13dwt 9gr had been obtained, the money value being £245 2s sd. Few dredges have done anything like so well during the first month. Satisfactory arrangements have been made in conjunction with the other companies working in the gorge to get a constant supply of coal at a reasonable rate. The directors hope before long to reach the dividend-paying stage, and trust shareholders will continue to have faith in the venture. In answer to a question by a shareholder regarding the financial position of the company, the Chairman stated that they *i 1™ ° "* addition to the mortgage of il,loo. He also remarked that 200 shares .were held in reserve. motion for the adoption of the report and balance-sheet was carried. After a short discussion, it was decided that the number of directors be increased to five, it being understood that the fifth man be a local director. j Ir ™ A- , Jaines was re-elected a director, and Mr A. Kyle was elected in place of Mr D. J. Bews. Mr A. M. Sidey, the retiring auditor, was re-elected at the same remuneration as formerly. DAVIS'S BEND DREDGING COMPANY. The first annual meeting of the above T a r< -Sl d y esterdav afternoon, when Mr J. U Thomson (chairman of directors) presided. There were six shareholders present, and proxies representing 3,589 shares. Ihe Chairman, in moving the adoption of the report and balance-sheet, said that the shareholders would recognise that the position of the company was a very satisfactory one, despite the adverse comments which had been made. As soon as they decided to place a dredge upon the claim they would be able to do so without calling up much more capital; at any rate, they would be able to manage it well within their capital, and perhaps under it. If they decided not to buy a dredge at present, but to wait a while, they might have an opportunity of having the claim tested for a very slight expenditure. The calls on the shareholders had not been heavy, and they had £B6O in the bank and £4OO to come in, making over £1,200 ?«T?, for the P nrch »se of a dredo-e. With the present trend of affairs', and the ruling pnees of dredges on the market, they had every prospect of getting to work under very satisfactory conditions. the motion was carried. Messrs T. K. Harty and J. C. Thorn, son were re-elected directors, and Mr W. E. C. Reid was re-elected auditor. DREDGE-OWNERS' INDUSTRIAL UNION. An adjourned meeting of the Otago and Southland Gold Mining Industrial Union of Employers was held yesterday afternoon at the Agricultural Hall. Mr H. North presided, and about fifteen members were present, including the following : —W. T. Talboys, J. M. E. Garrow, fi. Stokes, G. M. Grigg, J. C. Short, C. b. Reeves, J. Sim, R. S. Paterson, S. Crow, and others. Mr Garrow, secretary, reported that the Committee appointed at last meeting had met, and, as instructed, had drafted rules' of the Association. The meeting approved of the rules as drafted. Mr Talboys asked if some means could not be devised to make membership of the union "compulsory." He thought it would be a very unfair thing if a few of the mining companies joined the union while others stood out and secured all the benefits of the organisation and expenditure. , r The Chairman said the employers were in a worse position in this respect than the workmen's unions. The workmen could compel all employers to be parties to an industrial dispute, but the employers had no power to compel employers 'to band together lor a common interest. It was decided to, send a copy of the rules to the secretary of each company, with a request that they should join and support the union. , The Secretary read a telegram from Mr Jas. Kelman, of Alexandra, stating that he thought they would prefer to go' on their own lines to falling in with the union, but the matter would be decided at a meeting to be held next week. Mr Short remarked that it would be vel 7 kard if the companies represented at Alexandra did not join the union, and thus make one strong and powerful combination of it A letter was also read from Mr Brown in Wellington, asking to be advised of any matters the Association desired to be attended to, and stating what he had already done.—The Secretary said that the Conciliation Board would meet to hear the dispute with, the Dredgemen's Union, lliere were 147 companies cited as parties to the dispute, 107 having their offices m town and forty in the country.—The Board are to be asked to hear the case m Dunedin. A letter was read from the Kelly and Casey Company, enclosing a telegram from their dredge-master:—"lnspector of Mines here this morning; insists on the employment of two drivers holding first class certificates; send two strong men at once" The secretary of the company desired tie umon to take up the matter, as the supply of efficient men was not equal to the demand, and they were threatened with a prosecution.—lt was decided to refer the matter to the Board of Advice to deal with. *