MINING NEWS.

Evening Star, Issue 11681, 13 February 1902, Page 6

MINING NEWS.

The Paterson's Freehold Golds Dredging Company report 240z for last week. The Reefton gold returns are as follow: —Consolidated Gold Mining Company of New Zealand, Progress Mines, 2,1490z gold for 4,520 tons ore treated, valued at £8,790; Wealth of Nations mine, 5270z for 1,021 tons treated, value £2.168; Golden Fteece mines, 5230z for 1,286 tons stone.

valued at £2,128. Total for the month: 3,1990z for 6,827 tons of stone, valued at £13,086.

SHARE MARKET. OTAOO SXOHAKOS. The following sales were effected on the Otago Exchange this morning :•—Fourteenmile Beach, 16/6; Rise and Shine, 14/6. DDWKDIK EXGHANGU. Sales were made at the following prices yesterday afternoon :—Gold King, 6/; No Town Creek, 26/3 ; Pacioius, 36/; Rise and Shine, 14/6. This morning's sales were as follow: Cromwell, 72/; Golden River, 7/6, 7/6; Greenstone Junction, 24/6; Trafalgar, 23/. Quotations: Aldinga—Sel 19/6. Alexandra Lead—Buy 4/6. Alpine No. 2—Buy 22/, set 25/. Bendigc—Buy 13/," sel 14/6. Central Charlton—Buy 6/'. Electric Extended—Buy 6/, sel 7/. Electric—Sel 38/6. Ettrick Gold Steam—Buy 10/6, sel 11/o. First Chance—Buv 9/, sel 10/. Fourteen-mile Beach—Buy 16/, sel 17/6. Gentle Annie—Buy 16/. sel 18/. Gold King—Buy 5/9, sel 6/. Golden River—Buy 7/6, sel 7/9. Great Central—Buy 4/, sel 7/3. Greenstone Junction—Sel 26/. Hokitika River—Buy 12/6, sol 15/6. Inchdale—Sel 15/9. Leaning Rock—Buy 14/3, sel 15/. Manuherikia—Buy 33/, sel 39/. Meg and Annie—Buy 23/9, sel 25/. MoTvneux Kohinoor—Buy 3/, sel 2/ dis. Monte Christo—Buy 27/6, sel 30/9. Mosquito—Buy 20/6, sel 22/. Nelson Creek—Buy 49/, sel 54/6. New River—Sel 17/8. No Town Creek—Buy 25/, sel 25/6. Olrig—Buy 12/6. Orwell Creek—Buv 3/6, sel 6/. Poctolus—Buy 35/6. Rise and Shine—Buy 13/, sel 14/6. Royal Maori—Buy 15/6, sal 16/6. Tevioi—Buy 6/. Trafalgar—Buy 22/9, sel 23/3. Upper Magnetic—Buy 4/. sel 4/6. Victory—Buy 21/, set 23/. Vincent Extended—Buy 7/, sel 8/3. Wainiuniu—Sel 23/.

STOCK EXCHANGE NOTES. The river dropped 6iu since yesterday, and this morning registered Bft above minimum. With a little longer continuance of fine weather, now that the subsiding turn lias apparently set in, the river should be down again to the 6ft mark, at which point all our long-delayed dreefces and justly-impatient dredgemen should be in active work again.

The market to-day showed up corfiiderably better, and there wa.-s an improved inquiry for leading lines, with more disposition to do business. Thero can be little doubt that prices -will see d. general kait'eniug under the influence of approacliirg winter, and even the most conservative ancireliable brokers and dredging supporters admit that a decided revival in business may be expected under these conditions. The sentiment will bo widely re-echoed: " Let it be soon." Principal quotations this morning were:--Al-pine No. 2: Hut 22/, sel 25/; sellers holding off. Central Charlton: Buy 6/; should bo worth a shilling or two rise. Cromwell: Sale of twenty at 72/; no regular quotes; this is a big price, evio!*ntly justified by the balief of holders. Vourteer.-mile Beach: Buy 16/, sel 17/6; have still several hundred pounds to draw on for working capital, but will require gold without much loss of time. Gentle Annie: Buy 15/, sel 18/; as dredge appioaches completion prices weaken; it is ever thus. Gold King : Buy 5/9, sel 6/; a close market, which generally precedes a fall. Golden River: Sales 7/6; buv 7/6, sel 7/9; steady stock. Greenstone Junction: Sales 24/6; no quotes; these shares are being quietly picked up for holdirg purposes. Leaning Rock: Buy 14/3 sel ]5/; will make an early start. Meg' and Annie: Bny 23/9, sel 25/; have declared the promised 2/ dividend, payable neit week ; there are more to follow from all accounts. Monte Chnsto : Buy 27/6 sel 30/9; should also get to work soon. Nelson Creek: Buy 49/, sel 54/6; weaker on the last poor return. No Town Creek: Buy 26/, sel 25/6; firm. Olng: Buy 12'6; no sellers; are appreciating on their potential value. Pactolns : Buy 35/6 ■ no sellers: likewise hardening. Rise and 'Shine: Buy 13/, sel 14/6; nothing definite enough in view to keep them up. Royal Maori- Buy 15/6, sel 16/6; weaker. Trafalgar: Sales 23/; hay 22.-9. sel 23/.-,: holding up their price. Victory: Buy 21/ sel 23.'; also a firm stock. Investment Stocks.—National Bank: Buy 73' sel 80/. Bank of New Zealand : Buv 46,6, sel 50/. National Insurance : Sel" 213 Union Steam: Buy iIL, set £ll 6s 6,1. Westport Coal : Buy 79/ sel 82/6 lex div.). Oamaru Wool : Buv 30/. Donaghrs Rope: Buy £ll. sd £ll ss. We never hear much about the IsiavA riock Company, and there are many people who positively could not locate it if ruavested, yet the block itself comprises several hundred acres of the best auriferous <r-ound in tb« coimtrj-, \ym S- as it dow befow Miller's Flat and fronting the Molynfcnx. There are hig possibilities for this company in the future, and the time mav ii-.i be far distant when they will have several machines at work turning the gravel inio dollars, or will have made a handsome T/ofit by the flotation of sections of die ,-a : d block into subsidiary companies. Work tas been in progress there for some time past, but ha--, been confined to hydruu!?: sluicing, and from this source alone £2,214 10s 6d worth of gold was won last year, which must have proved an acceptable addition to the fvnipany's finances, requisitioned a* they were by the expenditure of dredge construction. The old Metallic Company s a very capable machine bought by the Island. Block Company for £1,050 and removed to her new home, is now almost complete, and will bo at work in AprL "When fitted with an elevator and altered ■where required, the dredge, complete m every respect, will have cost the company une'er £3,500, and this fact alone exemplifies the «visdom of not rushing into building contracts, but quietly awaiting favorable opportunities. While on the subject of elevators, it might, be suggested tJiat the company inquire' into the suitability < f layne and l'eck's patent centrifugal. If installed \-he cost would be several hundred pounds less than the ordinary bucket elevalo-, and from the character of the wash en the Island Block should be eminently suitable.

The unfortunate Pile-up Company ia evic*ntly on the rocks, and shareholders are to be summoned to :iu extraordinary meeting to voluntarily wind up affairs. Recni]l< toons of last meeting are still fresh m the memories of those present on that occ&s'on, and it is to be hoped that the motst j.r.ii garrulous objector to all formalities will not disturb the solemnity of the final p» oceedings. There is something particukily " fishy" in the appearance of die wiole business, since the impartial report of the gentleman deputed to bore the claim states that the ground is woitldets from a (hedging standpoint. It is not likely v> ba of value from any other point of view, vnless as a memento of public guQihiluy a?.d a gold-plated prospectus.

The Alexandra Eureka is another of our d.vidend payers, and the statement t,f a£airs for the year ended December 31 last is a satisfactory one. The amount of gold rj educed for that period was I,oscm>z, valued at £4,074 15s lid, and the expendituie in winning the same £2,721 los 9d. 7his is about 11 per cent, on the capital of the company (£12,000). The total amouut in dividends paid to date is £4,200, which in two years is not a bad record. The Waiauimu Company's record for larSt year is likewise very creditable, and evcu better things may be expected during tb«. ensuing twelve months. The value of gold won last year was £4,014 15s 9d, and th<s expenses in connection with obtaining th<j Atme was >i3,090 12s 7cL This shows a p- out of neaily £I,OOO, which ia equal ■ o o\er 14 per cent of the capital (£7,000). No iiKlttetrial investments pay like these etneerns, bat, then, many people don't ivanfc mvestmenta.