MINING NEWS.

Evening Star, Issue 11606, 17 June 1902, Page 6

MINING NEWS.

The Perseverance No. 1 report 360z 13dwt for the week ended June 14. The Upper Waipori report 270z for 138 hours. The Waitahuna report 17oz 17dwt for the week ended June 14. The Evans Flat report Boz 3dwt for the week ended June 14. The Woodstock (West Coast) report Boz 12dwt for 72 hours. The Clyde dredge resumes work this afternoon. • The dredge-master of the Lady Charlton Company reports, under date June 16, that there is a little improvement in the wash, and that he is now 26yds from the prospector’s shaft, which he expects to reach in a fortnight. The dredge is working fairly well, but the gold is still very fine. Our Christchurch special wires that Montgomery's Sluicing Company have decided to suspend work until a larger race is completed. The preparatory work done has yielded most satisfactory prospects. The Grey River Extended have decided to shnt down pending a rise in the river, when the

dredge can* get but in a few. hours. It is intended that'when the dredge gets clear of her tailings to take her direct to the Grey River Extended claim. The Old Dunstan Dredging Company, in their half-yearly report, sound a note of warning. The directors point out that “as the work cannot be carried on without funds (inter alia, it may be stated that everything has to be paid for cash down) they impress upon shareholders the necessity of not alone paying up their arrears, but a l so ' of contributing their quota of the levy, and thus aid in bringing about the result so earnestly to be desired, for there is no disguising the disagreeable fact that the alternative liquidation must follow.” THE SHARE MARKET. Tmwvniw kxcbawgs This morning’s sales were as follow: Bendigo, 9/; Halfway House, 4/. Quotations;— Al—Sol 19/. Aldinira —Sel 16/6. Alexandra Lead—Sel 6/6. Alpine No. 2—Sel 21/. Bendigo—Buy 8/6, sel 9/3. Enterprise—Sel 27/. Fairdown—Buy 9/, sel 15 j. First Chance—Sel 1/9. Fourteen-mile Beach—Buy 10/, sel 13/. Gentle Annie —Buy 11/6, se3 13/6. Gold King—Buy 4/, sel 4/9. Golden Gate —Sel 95/. Golden River—Buy 5/? i, sel 6/. Credit Woodstock—Sel 6/. Halfway House—Sel 5/6 Junction Electric—Buy 38/, sel 19/6. Leaning Rock—Sel 7/6. Majestic—Sel 15/. Manuherikia (ex div.) —Sel 38/. Molyneux Hydraulic—Sel 10/. Monte Christo—Buy 16/, sel 20/6. No Town Creek—Buy 35/, sel 36/. Old Diggings—Buy 3/3, sel 3/9, Olrig—Buy 21/, sel 22/. Pactolus—Buy 70/, sel 75/. Perseverance---Sel 62/6. Rise and S^ine —Buy 1/, sel 1/3. River Molyneux—Buy 2/, sel 2/6. Royal Maori—Buy 1/6, scl 3/. Sailor’s Bend—Sel 39/. Teviot —Buy 4/, sel 6/. Trafalgar—Buy 23/, sel 24/6. Unity—Buy 18/, sel 19/3. Waimumu Central—Buy 7/, sel 7/9. Waimumu Queen —Buy 4/, sel 5/6.

STOCK EXCHANGE NOTES. Business was not bri k on ’Change this morning, the preponderance of as compared with buyers being again particularly noticeable. Sellers reduced the prices of Al to 19/, .and AJdinga to 16/6 w thout tempting buyers to inve t. Bendigo shues are stJl ui accouatab.y low, and it is difficult to explain the faking tendency, in view of the fact that the ladder j- being raised. This stock at 9/ should be good buying. Gold King was firm at qu»t tions, but Golden R.ver eased a little, if anyth ng. In addition to the sale of Bendigos already referred to, the only other business transacted was a sale of Halfway Hou e at 4/, which represented a drop of 3/6 in sales of the same stock la t week. There were further sellers in the market at 5/6, but no buyers. Juncton Electric was steady, but Leaning Rocks were weaker. Monte Christo was slightly firmer. No Town Creek, Olr.g, Pacto'us, Rise and Shine, and Unity were unchanged, and firm at quotaFons. The return of 20oz from R ; ver Molyneux for last week raised yesterday’s sale price of 1/ up to ?/6. but buyer' would not advance bevond 2/. Trafalg’r was inquired for at 23/, but sellers a ked over that amount. There was no particular movement in other stocks. I - vestment stocks were quoted as folio w:—National Bank: Buy 78/. Bank of New Zeal md : Buy 6?/6. National Insurance: Buy 20/3, sel 21/. U.S.S Company: Buy £ll 5/. Milbum Lime and Cement: Buy 23/6, sel 27/; new issue—buy 13/, sel 14/3. , WEST COAST NOTES. HOKITIKA, June 17. The long spell of dry weather is having a most disastrous effect upon all mining operations, especially sluicing. At Back Creek, Rimu, Stafford Waimea, and a number of other places the miners have been idle for close on three months. The Government race at Kumaya and Dillman s will only last a few days longer. Very little leaks out of the doings of the Kohinonr dredge, which is reported working its way up to ground practically worked thirty years ago with great success. The Woodstock dredge is not yet over its initial troubles. At present it is working through a 9ft ridge. Whe nthrough this, much lighter ground is expected, and with better results. The Hokitika River dredge, owmg to a broken shaft and other causes, is not working. Probably the repairs will last another The Great Woodstock return of 14oz 14dwt for two weeks is deemed, satisfactory bv experts, considering that the dredge is not yet in proper ground. It should, however, reach there shortly.